Commentary

I5.1122 More than one settlor (income tax and CGT)

IHT, trusts and estates

I5.1122 More than one settlor (income tax and CGT)

I5.1122 More than one settlor (income tax and CGT)

Where a settlement has more than one settlor, each settlor is to be treated as the only settlor of a deemed separate settlement, with rules as to the property and income which is to be treated as belonging to that separate settlement1.

In relation to a particular settlor, property comprised in a settlement means property originating from that settlor and income arising under the settlement means only income originating from that settlor2.

Property originating from a settlor means3:

  1.  

    (a)     property which that settlor has provided directly or indirectly for the purposes of the

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial