TSEM4207 - Settlement legislation: settlor retains an interest - exceptions - gifts to charities

ITTOIA/S628

The rule that where the settlor has retained an interest in property in a settlement the income arising is treated as the settlor바카라 사이트™s income for all tax purposes (TSEM4200) does not apply to qualifying income which arises under a UK settlement if

  • it is given by the trustees to a charity in the tax year in which it arises, or
  • it is income to which a charity is entitled under the terms of the trust.

바카라 사이트˜Qualifying income바카라 사이트™ is defined in the legislation.

A UK settlement for this purpose means a settlement where the trustees are UK resident.