Paragraph 45

Section 735B (settlor charge: remittance-basis users) is amended as follows.

For the heading substitute “Historical liability under section 733A where remittance basis applied”.

For subsection (1) substitute—

“(1)

This section applies in relation to income if—

(a)

the income was treated under section 732 as arising to an individual (“the beneficiary”) for any of the tax years 2017-18 to 2024-25,

(b)

the settlor was under section 733A(2) or (3) (as it had effect for that tax year) liable for tax on the income, and

(c)

section 809B, 809D or 809E (remittance basis) applied to the settlor for that year.”