637 Qualifications to section 636
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

637  Qualifications to section 636

(1)     Section 636(2) does not apply—

(a)     to any interest paid by the trustees of the settlement, or

(b)     to any sums paid to—

(i)     a body corporate connected with the settlement, or

(ii)     the trustees of another settlement made by the settlor or by the trustees of the settlement.

(2)     Section 636(4) applies to any [relevant] interest paid by the trustees of the settlement subject to subsections (3) to (7).

(3)     The whole of any [relevant] interest paid by the trustees of the settlement

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