Paragraph 22A F1

(1)

Sub-paragraphs (2) and (3) have effect for the purposes of paragraph 22(2)(d).

(2)

A person who is a trustee of a trust has links to the United Kingdom if—

(a)

any property subject to the trust is situated in the United Kingdom,

(b)

a trustee of the trust enters into a business, professional or commercial relationship with a relevant person, or

(c)

the income of the trust includes income which, directly or indirectly, is from a source in the United Kingdom.

(3)

A person who is a trustee of a trust also has links to the United Kingdom if—

(a)

at least one other person is a trustee of the trust,

(b)

the other trustee (or at least one of the other trustees if the trust has more than two trustees) is resident in the United Kingdom, and

(c)

a person makes, at a time when the person is resident in the United Kingdom, a gift of property which becomes subject to the trust.

(4)

In this paragraph “property” has the meaning given by section 436 of the Insolvency Act 1986.

Annotations

F1: Sch. 2 para. 22A inserted (1.7.2021) by Financial Services Act 2021 (c. 22), ss. 34(3), 49(4); S.I. 2021/739, reg. 3(r)