Related Commentary  Related HMRC Manuals

480(1)  Income is accumulated or discretionary income so far as–

(a)it must be accumulated, or

(b)it is payable at the discretion of the trustees or any other person,

and it is not excluded by subsection (3).

480(2)  The cases covered by subsection (1)(b) include cases where the trustees have, or any other person has, any discretion over one or more of the following matters–

(a)whether, or the extent to which, the income is to be accumulated,

(b)the persons to whom the income is to be paid, and

(c)how much of the income is to be paid to any person.

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