Valid from 06/04/2006
[F1686EApplication of section 686D where settlor has made more than one settlementU.K.
(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.]
Textual Amendments
F1S. 686E inserted (6.4.2006) by Finance Act 2006 (c. 25), Sch. 13 para. 4(2)(3)