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Finance Act 2005
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Finance Act 2005, Section 30 is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Changes and effects yet to be applied to Section 30:
- Sch. 1A para. 1(cb) inserted by S.I. 2025/224 art. 9(2)
- Sch. 1A para. 3B inserted by S.I. 2025/224 art. 9(3)
Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- Sch. 1A para. 1(cb) inserted by S.I. 2025/224 art. 9(2)
- Sch. 1A para. 3B inserted by S.I. 2025/224 art. 9(3)
30Qualifying trusts gains: special capital gains tax treatmentU.K.
(1)This section has effect in relation to a tax year if—
(a)in the tax year chargeable gains accrue to the trustees of a settlement from the disposal of settled property which is held on qualifying trusts for the benefit of a vulnerable person (“the qualifying trusts gains”),
(b)the trustees would (apart from this Chapter) be chargeable to capital gains tax in respect of those gains,
[F1(c)the trustees are resident in the United Kingdom during any part of the tax year, and]
(d)a claim for special tax treatment under this Chapter for the tax year is made by the trustees.
F2(1A). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2)Special capital gains tax treatment applies for the tax year in accordance with—
(a)section 31 (vulnerable person UK resident [F3for] the tax year), or
(b)section 32 (vulnerable person non-UK resident [F3for] the tax year).
(3)But this section does not have effect in relation to the tax year if the vulnerable person dies during that year.
F4(3A). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)The reference in subsection (1)(a) to chargeable gains accruing to the trustees from the disposal of settled property includes a reference to chargeable gains treated as accruing to them under section 13 of TCGA 1992 (attribution of gains to members of non-resident companies).
F5(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1S. 30(1)(c) substituted (with effect in accordance with Sch. 46 para. 133(2) of the amending Act) by Finance Act 2013 (c. 29), Sch. 46 para. 133(1)
F2S. 30(1A) omitted (with effect in accordance with Sch. 2 para. 22 of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 2 para. 15
F3Word in s. 30(2)(a)(b) substituted (17.7.2013) by Finance Act 2013 (c. 29), Sch. 45 para. 151(3)(a)
F4S. 30(3A) omitted (with effect in accordance with Sch. 2 para. 22 of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 2 para. 15
F5S. 30(5) omitted (17.7.2013) by virtue of Finance Act 2013 (c. 29), Sch. 45 para. 151(3)(b)
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