# Finance Act 2025, Paragraph 20: Trust reporting requirements

Extent: E+W+S+N.I.

(1) Schedule 5A to TCGA 1992 (settlements with foreign element: information) is amended in accordance with sub-paragraphs (2) and (3).
(2) In paragraph 3—
(a) in sub-paragraph (3) omit “is domiciled in the United Kingdom and”;
(b) at the end of sub-paragraph (3) insert “and is not a qualifying new resident within the meaning of Schedule D1”;
(c) omit sub-paragraph (3A).
(3) In paragraph 4—
(a) for sub-paragraph (2)(b) substitute—
“(b) where that time was before 6 April 2025, did not fulfil the condition mentioned in sub-paragraph (3) below at that time or at any time before 6 April 2025,
(ba) where that time was on or after 6 April 2025, does not fulfil the condition mentioned in sub-paragraph (3A) below at that time,”;
(b) in sub-paragraph (2)(c)—
(i) for “that condition” substitute “the condition mentioned in sub-paragraph (3A) below”;
(ii) for “the commencement day” substitute “6 April 2025”;
(c) in the closing words of sub-paragraph (2), for “the relevant day” substitute “31 January after the end of the tax year in which the relevant day falls”;
(d) after sub-paragraph (3) insert—
“(3A) The condition is that the person concerned is resident in the United Kingdom and is not a qualifying new resident within the meaning of Schedule D1.”
(4) Sub-paragraph (5) applies where a settlor fulfils the condition in paragraph 4(3A) of Schedule 5A to TCGA 1992 (settlements with foreign element: information) on 6 April 2025.
(5) For the purposes of paragraph 4(2)(c) of that Schedule, the settlor is to be treated as first fulfilling that condition on 6 April 2025.

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Source: https://www.legislation.gov.uk/ukpga/2025/8/schedule/9/paragraph/20 (the official version)
Page: https://openlegislation.uk/finance-act-2025/schedule-9/paragraph-20
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.