SCHEDULES

SCHEDULE 13Settlements: amendments to ICTA and ITTOIA 2005 etc

Part 2Minor and consequential amendments

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1

The following provisions of ITTOIA 2005 shall cease to have effect—

a

section 457(4), and

b

section 568(5).

2

In section 457(5) of ITTOIA 2005 for “(2) to (4)” substitute “ (2) and (3) ”.

3

In section 467(7) of that Act for paragraph (b) substitute—

b

at the rate applicable by virtue of section 686A of ICTA (payments treated as income) in any other case.

4

This paragraph shall have effect in relation to payments made on or after 6th April 2006 to the trustees of a settlement (whenever created).