Taxation of Chargeable Gains Act 1992 Schedule 1C paragraph 5

Other settlements

Schedule 1C paragraph 5 sets out the reduced annual exempt amount that applies to settlements which are not for the benefit of a disabled person.

• This rule applies to any settlement that is not classified as a settlement for the benefit of a disabled person in a given tax year.
• Trustees of such settlements receive an annual exempt amount equal to half the amount available to an individual for that year.
• Where the settlement is a qualifying UK settlement that forms part of a group, further special rules apply which may reduce the exempt amount further.
• Additional special rules also apply where the settlement involves sub-fund arrangements.