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624(1)  Income which arises under a settlement is treated for income tax purposes as the income of the settlor and of the settlor alone if it arises–

(a)during the life of the settlor, and

(b)from property in which the settlor has an interest.

624(1A)  If the settlement is a trust, expenses of the trustees are not to be used to reduce the income of the settlor.

624(2)  For more on a settlor having an interest in property, see section 625.

624(3)  For exceptions to the rule in subsection (1), see–

section 626 (exception for outright gifts between spouses or civil partners),

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