Part 9Special rules about settlements and trustees
Chapter 1Introduction
462Overview of Part
(1)
This Part sets out special rules about settlements and trustees.
(2)
Chapter 2 contains general provision about settlements and trustees, for example, definitions of expressions relating to settlements.
(3)
Chapter 3 provides for income tax to be charged at the dividend trust rate or at the trust rate on certain amounts included in the net income of the trustees of a settlement.
(4)
Chapter 4 provides—
(a)
for expenses of the trustees of a settlement to be set against the trustees' trust rate income (see section 463(2)), and
(b)
consequentially, for the amount of the trust rate income to be reduced.
(5)
Chapter 5 qualifies section 479 (which is in Chapter 3) in the case of the trustees of F1a Schedule 2 share incentive plan.
F2(6)
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(7)
Chapter 7 deals with the treatment of payments made by the trustees of a settlement in the exercise of a discretion.
This affects the way the trustees and the recipients of such payments are taxed.
(8)
Chapter 8 deals with the treatment of expenses of the trustees of a settlement where income arising to the trustees is, before being distributed, the income of a person other than the trustees themselves.
This affects the way that other person is taxed on that income.
F3(9)
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(10)
Chapter 10 deals with heritage maintenance settlements.
(11)
See also Part 10 for special rules about charitable trusts F4 and section 838A for special provision about asbestos compensation settlements .
(12)
See also Chapter 4 of Part 2 of FA 2005 for provision about trusts with vulnerable beneficiaries.