Section 218 — Inheritance Tax Act 1984: Non-resident trustees.

Non-resident trustees. 218 1 Where any person, in the course of a trade or profession carried on by him, other than the profession of a barrister, has been concerned with the making of a settlement and knows or has reason to believe—

a that the settlor was a long-term UK resident , and b that the trustees of the settlement are not or will not be resident in the United Kingdom, he shall, within three months of the making of the settlement, make a return to the Board stating the names and addresses of the settlor and of the trustees of the settlement.

2 A person shall not be required to make a return under this section in relation to—

a any settlement made by will, or b any other settlement, if such a return in relation to that settlement has already been made by another person or if an account has been delivered in relation to it under section 216 above.

3 For the purposes of this section trustees of a settlement shall be regarded as not resident in the United Kingdom unless the general administration of the settlement is ordinarily carried on in the United Kingdom and the trustees or a majority of them (and, where there is more than one class of trustees, a majority of each class) are for the time being resident in the United Kingdom.