(1)In this Part—
“other income” means income which is [F1not property income, dividends income or] savings income, and
“the trustees of a settlement” does not include personal representatives.
(2)References in this Part to the trust rate income for a tax year of the trustees of a settlement are references to the trustees' net income for the tax year so far as it includes amounts on which income tax is charged at [F2the property trust rate, the savings trust rate or] the dividend trust rate or at the trust rate (ignoring Chapters 4 and 6).
Textual Amendments
F1Words in s. 463(1) substituted (for the tax year 2027-28 and subsequent tax years) by Finance Act 2026 (c. 11), s. 6(8), Sch. 1 para. 23(a)
F2Words in s. 463(2) inserted (for the tax year 2027-28 and subsequent tax years) by Finance Act 2026 (c. 11), s. 6(8), Sch. 1 para. 23(b)