Finance Act 2013 (c. 29)

SCHEDULES

SCHEDULE 46 U.K. Ordinary residence

PART 2 U.K. Income tax: arising basis of taxation

ITA 2007 U.K.

56 (1) Section 475 (residence of trustees) is amended as follows. U.K.

(2) For subsection (1) substitute—

“(1) This section applies for income tax purposes and explains how to work out, in relation to the trustees of a settlement, whether or not the single person mentioned in section 474(1) is UK resident.”

(3) In subsection (2), for “both UK resident and ordinarily UK resident” substitute “ UK resident ”.

(4) In subsection (3), for “both non-UK resident and not ordinarily UK resident” substitute “ non-UK resident ”.