Corporation Tax Act 2010 section 1169

Settlements and trustees

Section 1169 provides that the income tax rules on settlements and trustees also apply for corporation tax purposes, ensuring consistent definitions across both tax codes.

• The income tax rules in Chapter 2 of Part 9 of the Income Tax Act 2007 dealing with settlements and trustees apply equally for corporation tax purposes.
• The term "settled property" takes its meaning from the income tax definition, ensuring a consistent interpretation across both income tax and corporation tax.
• The term "settlor" in relation to a settlement is defined by reference to the income tax provisions, covering sections 467 to 473 of the Income Tax Act 2007.
• This approach avoids the need for separate corporation tax definitions and ensures that settlements and trustees are treated in the same way regardless of whether income tax or corporation tax applies.