I5.1141 The charge to tax on benefits
For 2018/19 onwards, otherwise untaxed benefits provided by the trustees of a settlement to the settlor or a close family member (see I5.1142) out of protected foreign-source income (see I5.1220) are treated as income of the settlor or family member1.
The treatment applies if an individual has an untaxed benefits total for a settlement for a tax year (see I5.1143). The amount treated as income is so much of that total as does not exceed the settlement's available protected income (see I5.1144) up to the end of the year. If the individual is UK resident for the year (and is not chargeable on the remittance basis, see E6.324A), the said amount
To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to Tolley+™ Research or register for a free trial
Web page updated on 17 Mar 2025 16:19