Income Tax (Trading and Other Income) Act 2005 (c. 5)

Part 5 U.K. Miscellaneous income

Chapter 5 U.K. Settlements: amounts treated as income of settlor [F1 or family]

Textual Amendments

F1 Words in Pt. 5 Ch. 5 heading inserted (with effect in accordance with Sch. 10 para. 21 of the amending Act) by Finance Act 2018 (c. 3), Sch. 10 para. 3(2)

Income charged and person liable U.K.

621 Income charged U.K.

Tax is charged under this Chapter on all [F2 income, capital sums and benefits] to which section 619(1) applies.

Textual Amendments

F2 Words in s. 621 substituted (with effect in accordance with Sch. 10 para. 21 of the amending Act) by Finance Act 2018 (c. 3), Sch. 10 para. 5

622 Person liable U.K.

The person liable for any tax charged under this Chapter is the settlor [F3 , but this is subject to sections 643A and 643I to 643M.]

Textual Amendments

F3 Words in s. 622 inserted (with effect in accordance with Sch. 10 para. 21 of the amending Act) by Finance Act 2018 (c. 3), Sch. 10 para. 6