http://www.legislation.gov.uk/ukpga/2007/3/section/474Income Tax Act 2007An Act to restate, with minor changes, certain enactments relating to income tax; and for connected purposes.texttext/xmlenStatute Law Database2024-09-06Expert Participation2024-09-03 Part 9Special rules about settlements and trusteesChapter 2General provision about settlements and trustees<Emphasis>Trustees</Emphasis>Trustees of settlement to be treated as a single and distinct person4741For the purposes of the Income Tax Acts (except where the context otherwise requires), the trustees of a settlement are together treated as if they were a single person (distinct from the persons who are the trustees of the settlement from time to time).2If different parts of the settled property in relation to a settlement are vested in different bodies of trustees, subsection (1) and sections 475 and 476 apply in relation to the different bodies as if they were all one body.3The cases covered by subsection (2) include cases where settled land (within the meaning of the Settled Land Act 1925 (c. 18)) is vested in the tenant for life and investments representing capital money are vested in the trustees of the settlement.Pt. 9 Ch. 2 applied (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), ss. 1169(1), 1184(1) (with Sch. 2)
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<Title>Special rules about settlements and trustees</Title>
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<Text>For the purposes of the Income Tax Acts (except where the context otherwise requires), the trustees of a settlement are together treated as if they were a single person (distinct from the persons who are the trustees of the settlement from time to time).</Text>
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<Text>The cases covered by subsection (2) include cases where settled land (within the meaning of the Settled Land Act 1925 (c. 18)) is vested in the tenant for life and investments representing capital money are vested in the trustees of the settlement.</Text>
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Pt. 9 Ch. 2 applied (with effect in accordance with s. 1184(1) of the amending Act) by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2010/4" id="crolu63j2-03664" Class="UnitedKingdomPublicGeneralAct" Year="2010" Number="4" Title="Corporation Tax Act 2010">Corporation Tax Act 2010 (c. 4)</Citation>
,
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,
<CitationSubRef id="crolu63j2-03666" CitationRef="crolu63j2-03664" URI="http://www.legislation.gov.uk/id/ukpga/2010/4/section/1184/1" SectionRef="section-1184-1">1184(1)</CitationSubRef>
(with
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)
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