PART XV SETTLEMENTS
CHAPTER 1C LIABILITY OF TRUSTEES
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F1686EApplication of section 686D where settlor has made more than one settlement
(1)
If a settlor in relation to a settlement has made more than one settlement, section 686D shall have effect in relation to each settlement made by him with the following modification.
(2)
The reference in subsection (3) to £1000 shall be treated as a reference to—
(a)
£200, or
(b)
such amount as may be obtained by dividing £1000 by the total number of settlements in the class, provided that the amount is not less than £200.
(3)
If there is more than one settlor in relation to a settlement, the amount shall be the amount obtained under subsection (2)(b) in relation to the largest class of settlements.
(4)
In this section a reference to a class of settlements is a reference to the class of settlements which were made by a settlor and which are in existence during any part of the year of assessment.