563. Trusts for the benefit of vulnerable persons.

A claim for special tax treatment for a tax year1 may be made by trustees of a settlement2 if in the tax year they hold property on qualifying trusts3 for the benefit of a vulnerable person and a vulnerable person election has been made with effect for all or part of the tax year in relation to those trusts and to that person4. A 'vulnerable person' is defined as: (1) a disabled person5; or (2) a relevant minor6.

The vulnerable person election must be made jointly by the trustees and the vulnerable person, in such form as the Commissioners for