Section 28A | Disapplication of section 629 of ITTOIA 2005

(1)In a case where this section applies, section 629(1) of ITTOIA 2005 shall not apply in respect of a payment by the trustees of a settlement to a beneficiary under the settlement.

(2)This section applies if in a year of assessment—

(a)the trustees make a payment to a vulnerable person,

(b)the payment is made out of qualifying trusts income,

(c)the vulnerable person is a relevant child (within the meaning given by section 629 of ITTOIA 2005) of a settlor in relation to the settlement, and

(d)the trustees have made a successful claim for special income tax treatment under section 25.