SCHEDULES
SCHEDULE 6 Taxation of savings at the lower rate
The Taxes Act 1988
17
In section 698A of that Act (taxation at the lower rate of the income of beneficiaries)—
a
in subsection (1), for the words from “section 207A” to the end there shall be substituted “
section 1A shall have effect as if that income were income to which that section applies.
”
; and
b
in subsection (2), for the words from “section 207A” to the end there shall be substituted “
section 1A shall have effect as if the payment made to the trustee were income of the trustee to which that section applies.
”