Finance Act 2006 Schedule 20
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The comments of HMRC to the questions on FA 2006 Sch 20, submitted jointly by CIOT and STEP on 7 September 2006, are available to download here in Adobe (pdf) format. The current version is updated to 3 October 2008. The Sch 20 letter was originally posted on this website in May 2007. A revised version was published on 6 August 2008 to reflect the fact that HMRC have indicated that they are actively reconsidering the response they previously gave to question 37(2) relating to additions to settlements. Updating comments in relation to questions 6, 9 and 25 were also made then.
The 3 October 2008 changes have been made throughout to reflect the provisions of section 141 FA 2008 and to add a note after HMRC’s response to question 6 regarding whether an interest in possession arises where a beneficiary's entitlement to capital is deferred.
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