Section 157 Non-residents’ bank accounts.

any qualifying foreign currency account of his, and

subject to subsection (3) below, any qualifying foreign currency account of the trustees of settled property in which he is beneficially entitled to an interest in possession.

the trustees are resident in the United Kingdom immediately before the beneficiary’s death,

the settlor is alive and is a long-term UK resident immediately before the beneficiary’s death,

the settlor died on or after 6 April 2025 and was F5... a long-term UK resident immediately before they died, or

the settlor died before 6 April 2025 and was F6... domiciled in the United Kingdom when the property became comprised in the settlement.

the question whether a person is resident F8... in the United Kingdom shall, subject to paragraph (b) below, be determined as for the purposes of income tax; but

the trustees of a settlement shall be regarded as not resident F9... in the United Kingdom unless the general administration of the settlement is ordinarily carried on in the United Kingdom and the trustees or a majority of them (and, where there is more than one class of trustees, a majority of each class) are resident ... there.

“foreign currency account” means any account other than one denominated in sterling, F12. . .

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