Paragraph 52
(1)
Section 715 (interest from FOTRA securities held on trust) is amended as follows.
(2)
In subsection (1)(b), for “person not ordinarily UK resident” substitute “ non-UK resident person ”.
(3)
In subsection (2)—
(a)
for “person not ordinarily UK resident” substitute “ non-UK resident person ”, and
(b)
for “is ordinarily UK resident at the time when” substitute “ is UK resident for the tax year in which ”.
(4)
In relation to a FOTRA security issued before 6 April 2013, the amendments made by this paragraph apply only if the security was acquired by the trust on or after that date.