Part 5Miscellaneous income

Chapter 5Settlements: amounts treated as income of settlor

Rules for calculating income

623Calculation of income

1

This section applies for the purpose of calculating the liability to tax of a settlor charged under this Chapter.

2

The same deductions and reliefs are allowed as would have been allowed if the amount treated as the settlor's income as a result of this Chapter had been received by the settlor as income.