Commentary

I5.1131 Retained and accumulated income

IHT, trusts and estates

I5.1131 Retained and accumulated income

I5.1131 Retained and accumulated income

The general rule described in I5.1130 is modified as regards income of a settlement created after 8 March 1999 or arising from property added to an existing settlement after that date, where payments are made to a relevant child out of accumulated income of the settlement1.

Where the trustees retain or accumulate income and in a subsequent year make a payment to or for the benefit of a child of the settlor who is unmarried and is not in a civil partnership, the payment is treated as income of the settlor of the year in which

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