Income Tax Act 2007 (c. 3)

Part 9 U.K. Special rules about settlements and trustees

Chapter 10 U.K. Heritage maintenance settlements

Application of property for non-heritage purposes: charge to tax U.K.

515 Rate of tax U.K.

Tax is charged under section 512 at the rate found by—

(a) taking the [F1 additional rate] for the tax year during which the charge arises, and

(b) reducing it by the trust rate for that year.

Textual Amendments

F1 Words in s. 515(a) substituted (with effect in accordance with Sch. 2 para. 25 of the amending Act) by Finance Act 2009 (c. 10), Sch. 2 para. 7