# Income Tax (Trading and Other Income) Act 2005, Section 458: Non-UK resident trustees


(1) Tax is not charged under this Chapter if the disposal is made by the trustees of a settlement and they are non-UK resident.
(2) The following provisions do not apply if the disposal falls within subsection (1)—
section 446 (strips of government securities: relief for losses), and
section 454 (listed securities held since 26th March 2003: relief for losses).
(3) In this section “settlement” has the same meaning as in Chapter 5 of Part 5 (see section 620).

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Source: https://www.legislation.gov.uk/ukpga/2005/5/section/458 (the official version)
Page: https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-458
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.