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Home / Simons-Taxes /IHT, trusts and estates /Part I5 Settled property /Division I5.11 Income tax and CGT for settlors /Capital sums treated as income of the settlor / I5.1139 Capital sums paid by a company connected with the settlement
Commentary

I5.1139 Capital sums paid by a company connected with the settlement


IHT, trusts and estates

A company is connected with a settlement in any tax year in which at any time:

  1. Ìý

    (a)ÌýÌýÌýÌý it is a close company (or would be if resident in the UK) and the participators include the trustees of the settlement, or

  2. Ìý

    (b)ÌýÌýÌýÌý it is controlled by a company within (a)1

Where a capital sum is paid to a settlor by a company connected with his settlement, and the trustees have made an associated payment to the company, the payment by the company is deemed to have been made by

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