Part 5 U.K. Miscellaneous income

Chapter 5 U.K. Settlements: amounts treated as income of settlor [F1 or family]

Textual Amendments

F1 Words in Pt. 5 Ch. 5 heading inserted (with effect in accordance with Sch. 10 para. 21 of the amending Act) by Finance Act 2018 (c. 3), Sch. 10 para. 3(2)

Income charged and person liable U.K.

622 Person liable U.K.

The person liable for any tax charged under this Chapter is the settlor [F2 , but this is subject to [F3 section 643A (under which a close member of the settlor’s family may instead be liable)].]

Textual Amendments

F2 Words in s. 622 inserted (with effect in accordance with Sch. 10 para. 21 of the amending Act) by Finance Act 2018 (c. 3), Sch. 10 para. 6

F3 Words in s. 622 substituted (for the tax year 2025-26 and subsequent tax years) by Finance Act 2025 (c. 8), Sch. 12 paras. 3, 70(1)