Point in time view as at 12/02/2019.
Taxation of Chargeable Gains Act 1992, Paragraph 5 is up to date with all changes known to be in force on or before 07 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
[F15(1)This paragraph applies if settlement is not a settlement for the benefit of a disabled person for a tax year.U.K.
(2)Section 1K applies in relation to the trustees of the settlement for the year as it applies in relation to an individual for the year but as if the annual exempt amount for the year were one-half of the amount available for the individual for the year.
(3)This paragraph needs to be read be with—
(a)paragraph 6 (cases where settlement is qualifying UK settlement comprised in a group), and
(b)paragraph 8 (sub-fund settlements).]
Textual Amendments
F1Sch. 1C inserted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 16
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