Part 1Income tax, corporation tax and capital gains tax
Income tax and corporation tax
7Settlor to return excess repayment to trustees etc
1
Section 646 of ITTOIA 2005 (adjustments between settlor and trustees etc) is amended as follows.
2
For subsection (4) substitute—
4
Subsection (5) applies if a settlor chargeable to tax under section 624 or 629 obtains a repayment by reason of the payment of the tax by—
a
any trustee, or
b
any other person to whom the income is payable by virtue of or as a result of the settlement.
3
In subsection (5), for “excess” substitute “
repayment
”
.
4
After subsection (6) insert—
6A
For the purpose of subsection (5), the settlor may require an officer of Revenue and Customs to provide the settlor with a certificate specifying—
a
that the settlor has obtained a repayment as mentioned in subsection (4), and
b
the amount of the repayment.
6B
A certificate provided under subsection (6A) is conclusive evidence of the facts stated in it.
5
In subsection (7), for “Any” substitute “
Subject to subsections (6A) and (6B), any
”
.
6
The amendments made by this section have effect in relation to repayments of tax for the tax year 2010-11 or any subsequent tax year.