Finance Act 2005
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Change 1
28A Disapplication of section 629 of ITTOIA 2005
(1) In a case where this section applies, section 629(1) of ITTOIA 2005 shall not apply in respect of a payment by the trustees of a settlement to a beneficiary under the settlement. (2) This section applies if in a year of assessment— (a) the trustees make a payment to a vulnerable person, (b) the payment is made out of qualifying trusts income, (c) the vulnerable person is a relevant child (within the meaning given by section 629 of ITTOIA 2005) of a settlor in relation to the settlement, and (d) the trustees have made a successful claim for special income tax treatment under section 25.
28A Disapplication of section 629 of ITTOIA 2005
(1) In a case where this section applies, section 629(1) of ITTOIA 2005 shall not apply in respect of a payment by the trustees of a settlement to a beneficiary under the settlement. (2) This section applies if in a year of assessment— (a) the trustees make a payment to a vulnerable person, (b) the payment is made out of qualifying trusts income, (c) the vulnerable person is a relevant child (within the meaning given by section 629 of ITTOIA 2005) of a settlor in relation to the settlement, and (d) the trustees have made a successful claim for special income tax treatment under section 25.
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