[685A Settlor-interested settlements]
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

[685A  Settlor-interested settlements]

[(1)     This section applies if—

(a)     a person receives an annual payment in respect of income from the trustees of a settlement,

(b)     the payment is made in the exercise of a discretion (whether of the trustees of the settlement or any other person), and

(c)     a settlor is charged to tax under section 619(1) on the income arising to the trustees of the settlement (whether in the current year of assessment or in a previous year of assessment) out of which the annual payment is made.

(2)     This section applies only in respect of that proportion of the annual payment which corresponds

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Pre-trial and case management hearings in the Crown Court

Pre-trial and case management hearings in the Crown CourtCoronavirus (COVID-19): This Practice Note contains guidance on subjects impacted by the Coronavirus Act 2020 (CA 2020). CA 2020, among other measures, makes provision for the extended use of live links and audio links in criminal proceedings.

LEXISNEXIS

Common financial covenants

Common financial covenantsThis Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing ratio•leverage ratio (or debt to equity ratio)•current ratio (or acid test ratio)•cashflow ratio•interest cover ratio, and•loan

LEXISNEXIS

Possession of a bladed article

Possession of a bladed articleThe offence of possession of a bladed articleThe offence of having a bladed article in a public place can be tried in either the magistrates' court or the Crown Court. The magistrates' court will decline jurisdiction in those cases where it appears that its powers of

LEXISNEXIS

Arbitration agreements—definition, purpose and interpretation

Arbitration agreements—definition, purpose and interpretationThis Practice Note considers the nature and scope of arbitration agreements with a particular focus on arbitration agreements pursuant to the law of England and Wales, although it also discusses the concept from an international