Paragraph 82

United Kingdom

The references in section 454(4) and (5) to trustees include any person who, had the loss been a profit—

(a)

would have been eligible for relief from tax for the tax year in which the loss is sustained as a result of F1any of sections 521(4), 522(5), 523(5), 524, 529 to 533, 536 and 537 of ITA 2007 (certain exemptions: special rules about charitable trusts) , or

(b)

would have been so eligible but for section F2541 of that Act (restrictions on exemptions: attributing items of income to the non-exempt amount) .

Annotations

Textual amendments

F1: Words in Sch. 2 para. 82(a) substituted (6.4.2007 with effect as stated in s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), ss. 1027, 1034, Sch. 1 para. 589(2) (with transitional provisions and savings in Sch. 2)
F2: Words in Sch. 2 para. 82(b) substituted (6.4.2007 with effect as stated in s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), ss. 1027, 1034, Sch. 1 para. 589(3) (with transitional provisions and savings in Sch. 2)