[SCHEDULE 1C Annual Exempt Amount in Cases Involving Settled Property]
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

[SCHEDULE 1C Annual Exempt Amount in Cases Involving Settled Property]

[Introductory

1

(1)     This Schedule provides for the application of section 1K (in some cases with modifications) in relation to the trustees of a settlement for a tax year.

(2)     The application of this Schedule depends on (among other things) whether or not—

(a)     a settlement is for the benefit of a disabled person, and

(b)     a settlement is a qualifying UK settlement.

(3)     For the definitions of those expressions, see paragraphs 3 and 7 respectively.

(4)     In this Schedule any reference to the application of section 1K in relation to an individual for a tax year is to its application in relation to an individual who is resident and domiciled in the United Kingdom for the year.

Settlements for the benefit of disabled persons

2

(1)     In the case of a settlement for the benefit of a disabled person for a tax year, section 1K applies in relation to the trustees of the settlement for the year as it applies in relation to an individual for the year.

(2)     This paragraph needs to be read with—

(a)     paragraph 6 (cases where settlement is a qualifying

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