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Income Tax Act 2007
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465Overview of Chapter and interpretation
(1)This Chapter contains general provision about settlements and trustees.
(2)Section 466 explains what is meant by references to settled property.
(3)Sections 467 to 473 explain what is meant by references to a settlor in relation to a settlement.
(4)Sections 474 to 476 treat the trustees of a settlement as a single and distinct person and set out rules in relation to the residence and ordinary residence of that person.
(5)Section 477 relates to sub-fund elections under paragraph 1 of Schedule 4ZA to TCGA 1992.
(6)Section 478 is about references to settled property etc in regulations.
(7)For the purposes of this Chapter property is derived from other property if—
(a)it derives (directly or indirectly and wholly or partly) from that other property or any part of that other property, and
(b)in particular, if it derives (directly or indirectly and wholly or partly) from income from that other property or any part of that other property.
(8)In this Chapter “arrangements” includes any scheme, agreement or understanding, whether or not legally enforceable.
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