667 Trustees' accrued income profits treated as settlement income
Income Tax Act 2007 (2007 c 3) | Legislation

667  Trustees' accrued income profits treated as settlement income

(1)     If the trustees of a settlement are treated as making qualifying accrued income profits, those profits are to be taken to be income arising under the settlement for the purposes of Chapter 5 of Part 5 of ITTOIA 2005 (settlements: amounts treated as income of settlor).

(2)     Subsection (3) applies if the trustees of a settlement—

(a)     are non-UK resident or domiciled outside the United Kingdom throughout a tax

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