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HMRC internal manual

Trusts, Settlements and Estates Manual

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HM Revenue & Customs
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Settlements legislation: capital sum paid to settlor: outline of ITTOIA/S641

ITTOIA/S641

The legislation in ITTOIA/S641 extends the provisions of ITTOIA/S633 to situations where a close company, whose participators include the trustees of a settlement, pays a capital sum to the settlor, spouse or civil partner.

Payments made by a company controlled by a close company, whose participators include the trustees of the settlement, are also included.