PART II RETURNS OF INCOME AND GAINS
Income tax
C1C28AF1 Trustee’s return.
F21
For the purpose of establishing the amounts in which F3the relevant trustees of a settlement, and the settlors and beneficiaries, are chargeable to income tax and capital gains tax for a year of assessment, F6and the amount payable by him by way of income tax for that year, an officer of the Board may by a notice given to F4any relevant trustee require the trustee—
a
to make and deliver to the officer, on or before the day mentioned in subsection (1A) below, a return containing such information as may reasonably be required in pursuance of the notice, and
b
to deliver with the return such accounts, statements and documents, relating to information contained in the return, as may reasonably be so required;
and a notice may be given to any one trustee or separate notices may be given to each trustee or to such trustees as the officer thinks fit.
1A
The day referred to in subsection (1) above is—
a
the 31st January next following the year of assessment, or
b
where the notice under this section is given after the 31st October next following the year, the last day of the period of three months beginning with the day on which the notice is given
F7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F81AA
For the purposes of subsection (1) above—
a
the amounts in which a person is chargeable to income tax and capital gains tax are net amounts, that is to say, amounts which take into account any relief or allowance a claim for which is included in the return; and
b
the amount payable by a person by way of income tax is the difference between the amount in which he is chargeable to income tax and the aggregate amount of any income tax deducted at source and any tax credits to which F9section 397(1) of ITTOIA 2005 applies.
2
Every return under this section shall include a declaration by the person making the return to the effect that the return is to the best of his knowledge correct and complete.
3
A notice under this section may require different information, accounts and statements for different periods or in relation to different descriptions of source of income.
4
Notices under this section may require different information, accounts and statements in relation to different descriptions of settlement.
F55
The following references, namely—
a
references in section 9 or 28C of this Act to a person to whom a notice has been given under this section being chargeable to tax; and
b
references in section 29 of this Act to such a person being assessed to tax,
shall be construed as references to the relevant trustees of the settlement being so chargeable or, as the case may be, being so assessed.