TSEM1150 - Introduction to trusts: legal background – tax law: table of destinations

Use the tables to find the Income Tax Act 2007 (ITA 2007) equivalent for the Income and Corporation Taxes Act 1988 (ICTA 1988) sections 685A to 694.


Section 685A: Meaning of ‘settled property’ 

ICTA 1988 sections 
ITA 2007 sections 
Section 685A(1)  
Section 466(1), (2), (3), (4) 
Section 685A(2)  
Section 466(1), (5), (6) 


Section 685B: Meaning of ‘settlor’

ICTA 1988 sections 
ITA 2007 sections 
Section 685B(1) Section 467(1), (2) 
Section 685B(2) 
Section 467(3), (4) 
Section 685B(3) 
Section 467(5) 
Section 685B(4) 
Section 467(6) 
Section 685B(5) 
Section 467(4), 468(1), (2), (3), (4), (5) 
Section 685B(6) 
Section 469(1), (2) 
Section 685B(7) 
Section 465(7) 
Section 685B(8) 
Section 465(8) 


Section 685C: Transfer between settlements: Identification of ‘settlor’

ICTA 1988 sections 
ITA 2007 sections 
Section 685C(1) 
Section 470(1) 
Section 685C(2) 
Section 470(3) 
Section 685C(3) 
Section 471(1), (2), (3) 
Section 685C(4) 
Section 471(1), (4) 
Section 685C(5) 
Section 471(5) 
Section 685C(6) 
Section 471(2) 
Section 685C(7) 
Section 471(4) 


Section 685D: Variation of will or intestacy, etc: Identification of 'settlor'

ICTA 1988 sections           
ITA 2007 sections 
Section 685D(1)
Section 472(1), 473(1)
Section 685D(2)
Section 472(2)
Section 685D(3)
Section 472(3)
Section 685D(4)
Section 472(4), (5)
Section 685D(5)
Section 473(2), (3)
Section 685D(6)
Section 473(4)
Section 685D(7)
Section 473(5)
Section 685D(8)
Section 473(6)

Section 685E: Trustees of settlements

ICTA 1988 sections
ITA 2007 sections
Section 685E(1)
Section 474(1)
Section 685E(2)
Section 475(1), (2)
Section 685E(3)
Section 475(4)
Section 685E(4)
Section 475(5), 476(2), (3)
Section 685E(5)
Section 476(2), (3), (4), (5)
Section 685E(6)
Section 475(6)
Section 685E(7)
Section 475(3)
Section 685E(8)
Section 474(2), (3)
Section 685E(9)
Repealed 


Section 685F: Application of section 739 and 740

ICTA 1988 sections
ITA 2007 sections
Section 685F(1)
Schedule (Sch) 2 paragraph 134(1), (2), (3), (4)
Section 685F(2)
Sch 2 pargraph 135(1), (2), (3), (4), (5)


Section 685G: Sub-funds

ICTA 1988 sections
ITA 2007 sections
Section 685G(1)
Section 477(1), (2), (3), (4), (5), (6)
Section 685G(2)
Section 477(2), (4), (6), (7)
Section 685G(3)
Section 477(7)

Section 686: Accumulation and discretionary trusts: Special rates of tax

ICTA 1988 sections
ITA 2007 sections
Section 686(1)
Section 479(1), (2), 481 (2)
Section 686(1AA)
Section 479(3), (4), 481(3), (4)
Section 686(1A)
Section 9(1), (2)
Section 686(2)
Section 479(1), 480(1), (2), (3), (4)
Section 686(2AA)
Section 484(1), (2), (4), (5), 486(1), Sch 2, paragraph 102
Section 686(2A)
Section 487(1), (2), (3), (4), 1023
Section 686(2B)
Section 487(5), (6)
Section 686(5A)
Section 479(3), 481(3)
Section 686(5B)
Section 19(3)
Section 686(6)
Section 463(1), 483(1), (2), (3)
Section 686(6A)
Section 480(4)
Section 686(6ZA)
Section 480(3), (5)
Section 686(6ZB)
Section 480(6)


Section 686A: Receipts to be treated as income to which section 686 applies

ICTA 1988 sections
ITA 2007 sections
Section 686A(1)
Section 481(1), (2), (3), (4)
Section 686A(2)
Section 482

Section 686B: Share incentive plans: distributions in respect of unappropriated shares

ICTA 1988 sections
ITA 2007 sections
Section 686B(1)
Section 488(1)
Section 686B(2)
Section 488(2), (3), (4)
Section 686B(3)
Section 489(2), (3), (5), (7)
Section 686B(4)
Section 489(2), (4), (5), (7)
Section 686B(5)
Section 489(6), (7)
Section 686B(6)
Section 488(5)
Section 686B(7)
Section 490(3)
Section 686B(8)
Sch 2 paragraph 103(1), (3), (4), (5), (6)

Section 686C: Interpretation of section 686B

ICTA 1988 sections
ITA 2007 sections
Section 686C(1)
Section 490(1)
Section 686C(2)
Section 490(2)
Section 686C(3)
Section 488(6)
Section 686C(4)
Section 489(7)
Section 686C(5)
Section 489(8)


Section 686D: Special trust rates not to apply to first slice of trust income

ICTA 1988 sections
ITA 2007 sections
Section 686D(1)
Section 491(1), (2)
Section 686D(2)
Section 491(1), (2)
Section 686D(3)
Section 491(1), (2)
Section 686D(4)
Section 491(3), (4)
Section 686D(5)
Section 491(3)
Section 686D(6)
Section 491(3)
Section 686D(7)
Section 491(3)
Section 686D(8)
Section 491(3), (5)


Section 686E: Application of section 686D where settlor has made more than one settlement

ICTA 1988 sections
ITA 2007 sections
Section 686E(1)
Section 492(1)
Section 686E(2)
Section 492(2), (3)
Section 686E(3)
Section 492(1), (4)
Section 686E(4)
Section 492(5)


Section 687: Payments under discretionary trusts

ICTA 1988 sections
ITA 2007 sections
Section 687(1)
Section 493(1), (2), (3) 899 (5)
Section 687(2)
Section 23, 30(2), 494(1), (2), (3), (4), 496(1), (2), (3), (4), (5)
Section 687(3)
Section 497(1), (2), (3), 498(1), (2)
Section 687(3A)
Section 498(1)
Section 687(4)
Section 463(1)
Section 687(5)
Section 493(5)


Section 689A: Disregard of expenses where beneficiary non-resident

ICTA 1988 sections
ITA 2007 sections
Section 689A(1)
Section 499(1), 501(1), 502(1), 1023
Section 689A(2)
Section 501(2), (3)
Section 689A(3)
Section 501(4)
Section 689A(4)
Section 501(5)
Section 689A(5)
Section 502(2), (3)


Section 689B: Order in which expenses to be set against income

ICTA 1988 sections
ITA 2007 sections
Section 689B(1)
Section 484(2), 486(1), 503(2)
Section 689B(2)
Section 486(1), (2), 503(2), (3)
Section 689B(2A)
Section 486(1), 503(2)
Section 689B(3)
Section 486(1), 503(2)


Section 690: Schedule 4 directions

ICTA 1988 sections
ITA 2007 sections
Section 690Section 507(2)

Section 691: Certain income not to be income of settlor etc

ICTA 1988 sections
ITA 2007 sections
Section 691(1)
Section 507(2), 508(1)
Section 691(2)
Section 508(1), (2), (3), (4)
Section 691(3)
Section 510(1), (2)
Section 691(4)
Section 508(5)
Section 691(5)
Section 509(1), (3), (4)


Section 692: Reimbursement of settlor

ICTA 1988 sections
ITA 2007 sections
Section 692(1)
Section 507(2), 511(1)
Section 692(2)
Section 511(2)

Section 693: Severance of settled property for certain purposes

ICTA 1988 sections
ITA 2007 sections
Section 693Section 507(2) (3)


Section 694: Trustees chargeable to income tax in certain cases at higher rate reduced by rate applicable to trusts

ICTA 1988 sections
ITA 2007 sections
Section 694(1)
Section 507(2), 512(1), (2), (3), (4)
Section 694(2)
Section 513(1), (2)
Section 694(2A)
Section 515
Section 694(3)
Section 517(1), (2)
Section 694(4)
Section 513(3), (4), 514
Section 694(5)
Section 512(1), (5), (6)
Section 694(6)
Section 516(1), (2), (3)
Section 694(7)
Section 516(4)