5N.I.In any circumstances in which apart from this paragraph a person would—
(a)under section 72 of the M1Taxes Management Act 1970 be assessable and chargeable to Class 4 contributions as trustee, guardian, tutor, curator, or committee of an incapacitated person in respect of the profits F1... of a trade, profession or vocation, or
(b)by virtue of [F2section 8 of ITTOIA 2005] be assessed and charged to such contributions in respect of profits F3... received or receivable by him in the capacity of trustee,
such contributions shall not be payable either by him or by any other person.
Textual Amendments
F1Words in Sch. 2 para. 5(a) repealed (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 425(5)(a), Sch. 3 (with Sch. 2)
F2Words in Sch. 2 para. 5(b) substituted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 425(5)(b)(i) (with Sch. 2)
F3Words in Sch. 2 para. 5(b) repealed (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 425(5)(b)(ii), Sch. 3 (with Sch. 2)
Marginal Citations