[F128ADisapplication of section 629 of ITTOIA 2005U.K.
(1)In a case where this section applies, section 629(1) of ITTOIA 2005 shall not apply in respect of a payment by the trustees of a settlement to a beneficiary under the settlement.
(2)This section applies if in a year of assessment—
(a)the trustees make a payment to a vulnerable person,
(b)the payment is made out of qualifying trusts income,
(c)the vulnerable person is a relevant child (within the meaning given by section 629 of ITTOIA 2005) of a settlor in relation to the settlement, and
(d)the trustees have made a successful claim for special income tax treatment under section 25.]
Textual Amendments
F1S. 28A inserted (with effect in accordance with Sch. 13 para. 36(2) of the amending Act) by Finance Act 2006 (c. 25), Sch. 13 para. 36(1)