Part III Individuals, partnerships, trusts and collective investment schemes F2etc
Annotations:
Amendments (Textual)
Chapter II Settlements
Migration of settlements, non-resident settlements and dual resident settlements
C1C2C387CF1Sections 87 and 87A: disregard of certain capital payments
1
For the purposes of sections 87 and 87A as they apply in relation to a settlement, no account is to be taken of a capital payment (or a part of a capital payment) within subsection (2).
2
A capital payment is within this subsection if (and to the extent that) it is received (or treated as received) in a tax year from the trustees of the settlement by a company that—
a
is not resident in the United Kingdom in that year, and
b
would be a close company if it were resident in the United Kingdom,
(and is not treated under any of subsections (3) to (5) of section 96 as received by another person).
Word in Pt. 3 heading inserted (with effect in accordance with Sch. 22 para. 12 of the amending Act) by Finance Act 2009 (c. 10), Sch. 22 para. 9; S.I. 2010/670, art. 2