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Finance Act 1948

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This is the original version (as it was originally enacted).

66Provisions as to National Trust

(1)Where under a , settlement any property (whether real or personal) was for the whole or any part of the year 1947-48 held upon trust for the National Trust subject only to a life interest of the settlor or to life interests of the settlor and his wife or her husband, whether jointly or in succession, any income arising from the property during that year or the part thereof in question shall be disregarded for the purposes of this Part of this Act :

Provided that nothing in this section shall affect the ascertainment of the amount of an individual's total income.

(2)In this section the expression " National Trust " means the National Trust for Places of Historic Interest or Natural Beauty incorporated by the National Trust Act, 1907, or the National Trust for Scotland for Places of Historic Interest or Natural Beauty incorporated under the National Trust for Scotland. Order Confirmation Act, 1935.

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