Finance Act 2005 (c. 7)

Part 2 U.K. Income tax, corporation tax and capital gains tax

Chapter 4 U.K. Trusts with vulnerable beneficiary

Introductory U.K.

24 Entitlement to make claim for special tax treatment U.K.

A claim for special tax treatment under this Chapter for a tax year may be made by [F1 the trustees of a settlement] if—

(a) in the tax year they hold property on qualifying trusts for the benefit of a vulnerable person, and

(b) a vulnerable person election has effect for all or part of the tax year in relation to those trusts and that person.

Textual Amendments

F1 Words in s. 24(1) substituted (retrospective to 6.4.2006) by Finance Act 2006 (c. 25), Sch. 13 para. 35(2)(b)(7)