Part 2

Income tax, corporation tax and capital gains tax
Chapter 4

Trusts with vulnerable beneficiary

Introductory

Introduction
23
1
This Chapter contains tax provision in connection with—
a
income arising to the trustees of a settlement from property held on qualifying trusts for the benefit of a vulnerable person, and
b
chargeable gains accruing to the trustees of a settlement from the disposal of such property.
2
Section 24 contains provision as to the making of claims for special tax treatment under this Chapter.
3
Sections 25 to 29 contain provision relating to income tax.
4
Sections 30 to 32 contain provision relating to capital gains tax.
5
Sections 34 to 36 apply for the purpose of determining whether trusts on which property is held for the benefit of a vulnerable person are qualifying trusts.
6
In this Chapter “vulnerable person election” means an election under section 37.
7
In this Chapter “vulnerable person” means—
a
a disabled person (see section 38), or
b
a relevant minor (see section 39).
Words in s. 23(1)(a) substituted (retrospective to 6.4.2006) by Finance Act 2006 (c. 25), Sch. 13 para. 35(2)(a)(7)
Words in s. 23(1)(b) substituted (retrospective to 6.4.2006) by Finance Act 2006 (c. 25), Sch. 13 para. 35(2)(a)(7)
Word in s. 23(4) substituted (with effect in accordance with Sch. 2 para. 22 of the amending Act) by Finance Act 2008 (c. 9), Sch. 2 para. 12