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The Child Trust Funds Regulations 2004
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- UK Statutory Instruments
- 2004 No. 1450
- PART 3
- Regulation 25
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Tax liabilities and reliefs—account provider to act on behalf of the named childU.K.
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25.—(1) An account provider may under these Regulations make tax claims, conduct appeals and agree on behalf of the named child (or of the registered contact in respect of the child) liabilities for and reliefs from tax in respect of an account.
(2) Tax claims shall be made to the Board in accordance with the provisions of regulations 26 and 27.
(3) Where any relief or exemption from tax previously given in respect of an account has by virtue of these Regulations become excessive, in computing the relief due on any claim there shall be deducted (so that amounts equal to that excess are set-off or repaid to the Board, as the case may be) notwithstanding that those amounts have been invested, any other amount of tax due to the Board by the account provider in respect of any tax liability in respect of account investments under an account including (but without prejudice to the making of an assessment under that Schedule) any amount falling due in respect of a liability under [F1Chapter 9 of Part 15 of ITA 2007].
Textual Amendments
F1Words in reg. 25(3) substituted (6.4.2010) by The Child Trust Funds (Amendment) Regulations 2010 (S.I. 2010/582), regs. 1, 13
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