Textual Amendments
F1Sch. 4C inserted (with effect in accordance with s. 92(5) of the amending Act) by Finance Act 2000 (c. 17), s. 92(4), Sch. 26 Pt. I
Modifications etc. (not altering text)
C1Sch. 4C modified (21.7.2008) by Finance Act 2008 (c. 9), Sch. 7 paras. 152-155
C2Sch. 4C applied (with modifications) by Income and Corporation Taxes Act 1988 (c. 1), s. 762(3) (as substituted (with effect in accordance with Sch. 7 para. 98 of the amending Act) by Finance Act 2008 (c. 9), Sch. 7 para. 93(3))
C3Sch. 4C applied (with modifications) (with effect in accordance with art. 1(2)(3), Sch. 1 of the affecting S.I.) by The Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001), regs. 1(1), 20(3)
4(1)If the transfer of value is made in a year of assessment during which the trustees of the transferor settlement are [F2at no time resident F3... in the United Kingdom] the chargeable amount is computed under this paragraph.U.K.
(2)Where this paragraph applies the chargeable amount is the amount on which the trustees would have been chargeable to tax under section 2(2) by virtue of Schedule 4B if they had been [F4resident F5... in the United Kingdom] in the year [F6(and had made the disposals which Schedule 4B treats them as having made)].]
Textual Amendments
F2Words in Sch. 4C para. 4(1) substituted (with effect in accordance with Sch. 12 para. 36(3) of the amending Act) by Finance Act 2006 (c. 25), Sch. 12 paras. 36(1)(2)(b), 41
F3Words in Sch. 4C para. 4(1) omitted (with effect in accordance with Sch. 46 para. 112 of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 46 para. 107(3)(a)
F4Words in Sch. 4C para. 4(2) substituted (with effect in accordance with Sch. 12 para. 34(3) of the amending Act) by Finance Act 2006 (c. 25), Sch. 12 para. 34(1)(2)(f)
F5Words in Sch. 4C para. 4(2) omitted (with effect in accordance with Sch. 46 para. 112 of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 46 para. 107(3)(b)
F6Words in Sch. 4C para. 4(2) inserted (with effect in accordance with Sch. 7 para. 147 of the amending Act) by Finance Act 2008 (c. 9), Sch. 7 para. 134 (with Sch. 7 para. 155)