Point in time view as at 15/09/2016.
Taxation of Chargeable Gains Act 1992, Paragraph 4 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.
4(1)This paragraph applies where for the purposes of section 86(1)(d) the settlor has no interest in the settlement at any time in the year except for one of the following reasons, namely, that—U.K.
(a)property is, or will or may become, applicable for the benefit of or payable to one of the persons falling within paragraph 2(3)(b) to [F1(db)] above,
(b)income is, or will or may become, applicable for the benefit of or payable to one of those persons, or
(c)one of those persons enjoys a benefit from property or income.
(2)This paragraph also applies where sub-paragraph (1) above is fulfilled by virtue of 2 or all of paragraphs (a) to (c) being satisfied by reference to the same person.
(3)Where this paragraph applies, section 86 does not apply if the person concerned dies in the year.
(4)In a case where—
(a)this paragraph applies, and
(b)the person concerned falls within paragraph 2(3)(b)[F2, (d) or (db)] above,
section 86 does not apply if during the year the person concerned ceases to be married to[F3, or a civil partner of,] the settlor[F4, child or grandchild] concerned (as the case may be).
Textual Amendments
F1Word in Sch. 5 para. 4(1)(a) substituted (with effect in accordance with s. 131(4) of the amending Act) by Finance Act 1998 (c. 36), Sch. 22 para. 3(1)
F2Words in Sch. 5 para. 4(4)(b) substituted (with effect in accordance with s. 131(4) of the amending Act) by Finance Act 1998 (c. 36), Sch. 22 para. 3(2)(a)
F3Words in Sch. 5 para. 4(4) inserted (5.12.2005) by The Tax and Civil Partnership Regulations 2005 (S.I. 2005/3229), regs. 1(1), 126(4)
F4Words in Sch. 5 para. 4(4) substituted (with effect in accordance with s. 131(4) of the amending Act) by Finance Act 1998 (c. 36), Sch. 22 para. 3(2)(b)
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