CG18050 - Annual exempt amount: settlements for disabled persons
TCGA92/SCH1/PARA1
Subject to CG18070 the main exemption is given to trustees of settlements under the terms of which income, and any capital applied, must be applied mainly for the benefit during their lifetime of
- a mentally disabled person
- a person in receipt of attendance allowance
- a person in receipt of disability living allowance by virtue of entitlement to the care component at the highest or middle rate.
The conditions for the main exemption to be given to the trustees are not as strict as those that apply to a vulnerable beneficiaries election. See CG35500+. If the settlement meets the qualifying conditions to make a vulnerable beneficiaries election it is very likely the trustees will qualify for the main exemption.