Section 291 — Finance Act 2014: Trusts with vulnerable beneficiary: meaning of “disabled person”

Trusts with vulnerable beneficiary: meaning of “disabled person” 291 1 Schedule 1A to FA 2005 (meaning of “disabled person”) is amended as follows.

2 In paragraph 1—

a for paragraph (c) substitute—

c a person in receipt of a disability living allowance by virtue of entitlement to—

i the care component at the highest or middle rate, or ii the mobility component at the higher rate,”, and b in paragraph (d), omit “by virtue of entitlement to the daily living component”.

3 In paragraph 3, after “rate” insert “ , or to the mobility component at the higher rate, ” .

4 In paragraph 4, omit “by virtue of entitlement to the daily living component”.

5 The amendments made by this section have effect—

a for the purposes of sections 89, 89A and 89B of IHTA 1984, in relation to property transferred into settlement on or after 6 April 2014, and b for all other purposes, for the tax year 2014-15 and subsequent tax years.