631 Retained and accumulated income
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

631  Retained and accumulated income

(1)     This section applies if—

(a)     the trustees of a settlement retain or accumulate income arising under the settlement, and

(b)     a payment is subsequently made in connection with the settlement to, or for the benefit of, [a child of the settlor who is unmarried or not in a civil partnership].

(2)     The payment is treated for the purposes of section 629(1) as a payment of income, but only so far as there is retained or accumulated income available.

(3)     For the purposes

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