Commentary

I5.1136 Capital sums paid by trustees

IHT, trusts and estates

I5.1136 Capital sums paid by trustees

I5.1136 Capital sums paid by trustees

Any capital sum paid directly or indirectly in any tax year by the trustees to the settlor (see I5.1135) is treated as the income of the settlor for that year to the extent that it does not exceed the amount of settlement income available up to the end of that year1. As regards the amount of settlement income available, see I5.1137.

If the capital sum exceeds the income available for the tax year in which it is paid, the excess is treated as income of the settlor for the following tax year to the extent

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