Part 2Income tax, corporation tax and capital gains tax
Chapter 4Trusts with vulnerable beneficiary
Capital gains tax
30Qualifying trusts gains: special capital gains tax treatment
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,
c
the trustees are either resident in the United Kingdom during any part of the tax year or ordinarily resident in the United Kingdom during the tax year, and
d
a claim for special tax treatment under this Chapter for the tax year is made by the trustees.
F11A
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
Special capital gains tax treatment applies for the tax year in accordance with—
a
section 31 (vulnerable person UK resident during the tax year), or
b
section 32 (vulnerable person non-UK resident during 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.
F23A
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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).
5
For the purposes of this section and sections 31 and 32 whether a vulnerable person is UK resident or non-UK resident during a tax year is to be determined in accordance with section 41(2).