34 Disabled persons
Finance Act 2005 (2005 c 7) | Legislation

Qualifying trusts

34  Disabled persons

(1)     For the purposes of this Chapter where property is held on trusts for the benefit of a disabled person those trusts are qualifying trusts if they secure that the conditions in subsection (2) are met—

(a)     during the lifetime of the disabled person, or

(b)     until the termination of the trusts (if that occurs before his death).

(2)     Those conditions are—

(a)     that if any of the property is applied for the benefit of a beneficiary, it is applied for the benefit of the disabled person, and

[(b)     either—

(i)     that the disabled person is entitled to all the income (if there is any) arising from any of the property, or

(ii)

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