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I5.1120 Settlor charged to income tax—generally

For the latest New Development, see ND.2796.

Anti-avoidance legislation provides that in the following circumstances a settlor is chargeable to income tax¹:

1. Ìý

   (a)ÌýÌýÌýÌý on the income arising under a settlement where he retains an interest in the settlement (see I5.1125–I5.1129)

2. Ìý

   (b)ÌýÌýÌýÌý on income of a settlement paid to an unmarried minor child of his (see I5.1130, I5.1131)

3. Ìý

   (c)ÌýÌýÌýÌý on certain capital payments (including loans) to him (see I5.1135–I5.1140)

4. Ìý

   (d)ÌýÌýÌýÌý on otherwise untaxed benefits provided by the trustees to the settlor or a close family member of the settlor out of protected foreign-source income (see I5.1141), and

5. Ìý

   (e)ÌýÌýÌýÌý on onward gifts to the settlor or a close family member of benefits provided by the trustees out of protected foreign-source income (see I5.1146)

The person liable