Section 510 — Income Tax Act 2007: Sums applied for property maintenance purposes

Sums applied for property maintenance purposes 510 1 This section applies if—

a income arises from the heritage maintenance property comprised in a heritage maintenance settlement in a tax year in respect of which no election is made under section 508, b the income is treated under Chapter 5 of Part 5 of ITTOIA 2005 as income of the settlor, and c a sum in excess of the income is applied for a property maintenance purpose in the year.

2 Any such sum which is so applied in that year, which would otherwise be treated for income tax purposes as the income of a person—

a because of the person's interest in (or occupation of) the property in respect of which the sum is applied, or b under section 633 of ITTOIA 2005 (capital sums paid to settlor by trustees of settlement), is not to be so treated.