Income Tax (Trading and Other Income) Act 2005 section 621

Income charged

Section 621 establishes the scope of income chargeable to tax under the settlements legislation, covering all amounts treated as the settlor's income.

• All income arising under a settlement that is treated as the settlor's income is chargeable to tax
• Capital sums paid to the settlor or received in connection with the settlement are also within the charge
• Benefits received from the settlement are equally subject to the income tax charge
• The charge applies to every form of amount caught by the settlements anti-avoidance rules in section 619(1)