PART XIU.K. MISCELLANEOUS AND SUPPLEMENTAL

Modifications etc. (not altering text)

C1Pt. XI modified (with effect in accordance with s. 117(4)(5) of the amending Act) by Finance Act 1998 (c. 36), Sch. 18 para. 39(2)(a) (with Sch. 18 para. 59(2)); S.I. 1998/3173, art. 2

C2Pt. XI: power to apply conferred (with effect in accordance with s. 114(2) of the amending Act) by Finance Act 1999 (c. 16), Sch. 17 para. 17(b)

[F1SettlementsU.K.

Textual Amendments

F1S. 107A and cross-heading inserted (with effect in accordance with s. 103(7) of the amending Act) by Finance Act 1995 (c. 4), s. 103(5)

107A Relevant trustees.U.K.

(1)Subject to the following provisions of this section, anything which for the purposes of this Act is done at any time by or in relation to any one or more of the relevant trustees of a settlement shall be treated for those purposes as done at that time by or in relation to the other or others of those trustees.

(2)Subject to subsection (3) below, where the relevant trustees of a settlement are liable—

(a)to a penalty under section F2... 12B, 93 F3... of this Act or paragraph 2A of Schedule 1A to this Act [F4or Schedule 24 to the Finance Act 2007] [F5or Schedule 41 to the Finance Act 2008], or to interest under section 103A of this Act on such a penalty;

(b)to make a payment in accordance with an assessment under section 30 of this Act, or to make a payment under section 59A or 59B of this Act;

(c)to a surcharge under section 59C of this Act, or to interest under that section on such a surcharge; or

(d)to interest under section 86 of this Act,

the penalty, interest, payment or surcharge may be recovered (but only once) from any one or more of those trustees.

(3)No amount may be recovered by virtue of subsection (2)(a) or (c) above from a person who did not become a relevant trustee until after the relevant time, that is to say—

(a)in relation to so much of a penalty under section 93(3) F6... of this Act as is payable in respect of any day, or to interest under section 103A of this Act on so much of such a penalty as is so payable, the beginning of that day;

(b)in relation to a penalty under any other provision of this Act mentioned in subsection (2)(a) above, or to interest under section 103A of this Act on such a penalty, the time when the relevant act or omission occurred; and

(c)in relation to a surcharge under subsection (2) or (3) of section 59C of this Act, or to interest under that section on such a surcharge, the beginning of the day mentioned in that subsection;

and in paragraph (b) above “the relevant act or omission” means the act or omission which caused the penalty to become payable.

(4)In a case where—

(a)subsection (2)(a) above applies in relation to a penalty under section 93 of this Act, or

(b)subsection (2)(c) above applies in relation to a surcharge under section 59C of this Act,

subsection (8) of section 93 or, as the case may be, subsection (9) of section 59C of this Act shall have effect as if the reference to the taxpayer were a reference to each of the relevant trustees.]

Textual Amendments

F3Words in s. 107A(2) omitted (1.4.2009) by virtue of the combined effect of The Finance Act 2008, Schedule 40 (Appointed Day, Transitional Provisions and Consequential Amendments) Order 2009 (S.I. 2009/571), art. 1(1), Sch. 1 para. 4(a); Finance Act 2008 (c. 9), s. 113(2), Sch. 36 para. 75(2) (with Sch. 36 para. 38); S.I. 2009/404, art. 2 (with arts. 3, 5)

F6Words in s. 107A(3)(a) omitted (1.4.2009) by virtue of Finance Act 2008 (c. 9), s. 113(2), Sch. 36 para. 75(3) (with Sch. 36 para. 38); S.I. 2009/404, art. 2 (with arts. 3, 5)

Modifications etc. (not altering text)

C3S. 107A applied (with modifications) (with effect in accordance with reg. 1(2) of the amending S.I.) by The Stamp Duty (Collection and Recovery of Penalties) Regulations 1999 (S.I. 1999/2537), regs. 1(1), 3(1), Sch. Pt. I