Paragraph 5

England, Wales and Scotland

In any circumstances in which apart from this paragraph a person would—

F1(a)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b)

by virtue of F2section 8 of ITTOIA 2005 be assessed and charged to F3Class 4 contributions in respect of profits F4... received or receivable by him in the capacity of trustee,

such contributions shall not be payable either by him or by any other person.

Annotations

Textual amendments

F1: Sch. 2 para. 5(a) and word omitted (with effect for the tax year 2012-13 and subsequent tax years) by virtue of Finance Act 2012 (c. 14), s. 222(4)(c)(i) (with s. 222(5))
F2: Words in Sch. 2 para. 5(b) substituted (6.4.2005 with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 422(5)(b)(i) (with Sch. 2)
F3: Words in Sch. 2 para. 5(b) substituted (with effect for the tax year 2012-13 and subsequent tax years) by virtue of Finance Act 2012 (c. 14), s. 222(4)(c)(ii) (with s. 222(5))
F4: Words in Sch. 2 para. 5(b) repealed (6.4.2005 with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 422(5)(b)(ii), Sch. 3 (with Sch. 2)