If in a tax year income arises (or is treated as arising) to trustees of a settlement from property held on qualifying trusts1 for the benefit of a vulnerable person2 ('qualifying trusts income') and a vulnerable person election3 is in place, the following provisions apply if a claim for special tax treatment is made by the trustees4.
The effect of the claim is to reduce the trustees' liability to that which would be paid by the vulnerable person if the income were his
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.
EXISTING USER? SIGN IN
TAKE A FREE TRIAL
0330 161 1234