Section 465 — Income Tax Act 2007: Overview of Chapter and interpretation

Overview of Chapter and interpretation 465 1 This Chapter contains general provision about settlements and trustees.

2 Section 466 explains what is meant by references to settled property.

3 Sections 467 to 473 explain what is meant by references to a settlor in relation to a settlement.

4 Sections 474 to 476 treat the trustees of a settlement as a single and distinct person and set out rules in relation to the residence ... of that person.

5 Section 477 relates to sub-fund elections under paragraph 1 of Schedule 4ZA to TCGA 1992.

6 Section 478 is about references to settled property etc in regulations.

7 For the purposes of this Chapter property is derived from other property if—

a it derives (directly or indirectly and wholly or partly) from that other property or any part of that other property, and b in particular, if it derives (directly or indirectly and wholly or partly) from income from that other property or any part of that other property.

8 In this Chapter “ arrangements ” includes any scheme, agreement or understanding, whether or not legally enforceable.