Related Commentary  Related CasesRelated HMRC Manuals

71(1)  Subject to subsections (1A) to (2) below, this section applies to settled property if–

(a)one or more persons (in this section referred to as beneficiaries) will, on or before attaining a specified age not exceeding eighteen, become beneficially entitled to it, and

(b)no interest in possession subsists in it and the income from it is to be accumulated so far as not applied for the maintenance, education or benefit of a beneficiary.

71(1A)  This section does not apply to settled property at any particular time on or after 22nd March 2006 unless this section–

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.