OpenLegislation

Paragraph 8A C1C2C3F1F2

(1)

This paragraph specifies what settlements are relevant settlements in relation to a Schedule 4C pool.

(2)

The transferor and transferee settlements in relation to the original transfer of value are relevant settlements.

(3)

If the trustees of any settlement that is a relevant settlement in relation to a Schedule 4C pool—

(a)

make a transfer of value to which Schedule 4B applies, or

(b)

make a transfer of settled property to which section 90 applies,

any settlement that is a transferee settlement in relation to that transfer is also a relevant settlement in relation to that pool.

(4)

If the trustees of a settlement that is a relevant settlement in relation to a Schedule 4C pool make a transfer of value to which Schedule 4B applies, any other settlement that is a relevant settlement in relation to that pool is also a relevant settlement in relation to the Schedule 4C pool arising from the further transfer.

Annotations

Textual amendments

F1

Sch. 4C inserted (with effect in accordance with s. 92(5) of the amending Act) by Finance Act 2000 (c. 17), s. 92(4), Sch. 26 Pt. I

F2

Sch. 4C paras. 8, 8A-8C, 9 and cross-headings substituted for Sch. 4C paras. 8, 9 (10.7.2003) by Finance Act 2003 (c. 14), Sch. 29 para. 4(1) (with s. 163(4)-(6))

Modifications

C1

Sch. 4C para. 8A applied (21.7.2008) by Finance Act 2008 (c. 9), Sch. 7 para. 126(4)

C2

Sch. 4C modified (21.7.2008) by Finance Act 2008 (c. 9), Sch. 7 paras. 152-155

C3

Sch. 4C applied (with modifications) by Income and Corporation Taxes Act 1988 (c. 1), s. 762(3) (as substituted (with effect in accordance with Sch. 7 para. 98 of the amending Act) by Finance Act 2008 (c. 9), Sch. 7 para. 93(3))

Notes on Schedule 4C

Modifications

C3

Sch. 4C applied (with modifications) (with effect in accordance with art. 1(2)(3), Sch. 1 of the affecting S.I.) by The Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001), regs. 1(1), 20(3)