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Income Tax Act 2007

Section 474: Trustees of settlement to be treated as a single and distinct person

1372.This section provides that the trustees of a settlement are collectively regarded as a single person distinct from the persons who are the trustees from time to time. It is based on section 685E(1) and (8) of ICTA.

1373.The rule is the same rule as in section 69 of TCGA.

1374.This rule is of particular significance in relation to the determination of the trustees’ residence for income tax purposes.

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