Part 5Miscellaneous income

Chapter 5Settlements: amounts treated as income of settlor or family

Rules for calculating income

623Calculation of income

(1)

This section applies for the purpose of calculating the liability to tax of F1an individual charged under this Chapter.

(2)

The same deductions and reliefs are allowed as would have been allowed if the amount treated as F2the individual's income as a result of this Chapter had been received by F2the individual as income.