
Print Options
PrintThe Whole
Act
PrintThe Whole
Part
PrintThe Whole
Chapter
PrintThis
Cross Heading
only
Changes over time for: Cross Heading: Trustees


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Version Superseded: 19/07/2006
Status:
Point in time view as at 07/04/2005.
Changes to legislation:
There are currently no known outstanding effects for the Income Tax (Trading and Other Income) Act 2005, Cross Heading: Trustees.

Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
TrusteesU.K.
568Special rule for certain income of trusteesU.K.
(1)This section applies if the profits or gains charged under this Chapter and arising to trustees do not meet any of conditions A to C.
(2)Condition A is that the profits or gains fall to be treated for income tax purposes as income of a settlor.
(3)Condition B is that the profits or gains arise under a trust established for charitable purposes.
(4)Condition C is that the profits or gains are from property held for the purposes of a superannuation fund to which section 615(3) of ICTA applies.
(5)The profits or gains are to be treated for income tax purposes as if they were income to which section 686 of ICTA applies (accumulation and discretionary trusts: special rates of tax).
(6)In this section “trustees” does not include personal representatives, but where, during or at the end of the administration period, personal representatives pay trustees any sum representing profits or gains to which this section would apply if the personal representatives were trustees, that sum is treated as—
(a)being paid as income, and
(b)having borne income tax at the applicable rate.
(7)In subsection (6)—
(a)“administration period” has the meaning given by section 653, and
(b)“the applicable rate” means the rate referred to in section 663(1) (the applicable rate for grossing up basic amounts of estate income).
Back to top