SCHEDULES

SCHEDULE 46Ordinary residence

PART 2Income tax: arising basis of taxation

ITA 2007

56

1

Section 475 (residence of trustees) is amended as follows.

2

For subsection (1) substitute—

1

This section applies for income tax purposes and explains how to work out, in relation to the trustees of a settlement, whether or not the single person mentioned in section 474(1) is UK resident.

3

In subsection (2), for “both UK resident and ordinarily UK resident” substitute “ UK resident ”.

4

In subsection (3), for “both non-UK resident and not ordinarily UK resident” substitute “ non-UK resident ”.