Paragraph 55

Section 86 (attribution of gains to settlors with interest in non-resident or dual resident settlements) is amended as follows.

In subsection (1)(c), omit “is domiciled in the United Kingdom at some time in the year and”.

Omit subsection (3A).

In subsection (4), omit paragraph (b) and the “and” before it.

At the end insert—

“(6)

See also paragraph 3 of Schedule D1 (foreign gain claims: foreign gains and losses of the trustees ignored for the purposes of subsection (1)(e)).”