12Settlements: income originating from settlors other than individuals
This
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Nodiadau Esboniadol
(1)ITTOIA 2005 is amended as follows.
(2)In section 627 (income where settlor retains an interest: exceptions), at the end insert—
“(4)The rule in section 624(1) does not apply in relation to income which—
(a)arises under a settlement, and
(b)originates from any settlor who was not an individual.”
(3)In section 645 (property or income originating from settlor), in subsection (2), for “section 644” substitute “sections 627 and 644”.
(4)The amendments made by this section have effect in relation to income arising on or after 21 March 2012.