»Ê¹ÚÌåÓýapp

This chapter gives details of the provisions that are in place to stop settlements, etc being used to gain tax advantages.

»Ê¹ÚÌåÓýapp settlements legislation was originally enacted in the 1930s. »Ê¹ÚÌåÓýapp legislation, which is now contained within ITTOIA/ Chapter 5 Part 5 applies from 2005-2006 onwards. This is a rewrite of what was previously in ICTA88/Part XV, Chapter 1A and 1B (sections 660A to 660G, 677, 678 and 682A).

»Ê¹ÚÌåÓýapp legislation applies not only to trusts but can also apply to other situations involving individuals, companies and partnerships. »Ê¹ÚÌåÓýapp guidance in this chapter refers to ITTOIA but in substance applies equally to the previous legislation enacted in 1995, which applied to the years 1995-1996 to 2004-2005.

Where you are dealing with income arising under a settlement for tax years up to 5 April 2005 you will need to use the ICTA 1988 legislation. A table of the ICTA origins of the ITTOIA sections can be found at TSEM4003.

If internal users need guidance on the application of the legislation for years before 1995-1996, they should contact Trusts Technical, see TSEM11100.