Schedule 5A | Settlements with foreign element: information ^F1

From legislation.gov.uk

(1)In this Schedule “the commencement day” means the day on which the Finance Act 1994 was passed.^F1

(1)This paragraph applies if—^F1

(a)a settlement was created before 17th March 1998,^F1F2

(b)on or after the commencement day a person transfers property to the trustees otherwise than under a transaction entered into at arm’s length and otherwise than in pursuance of a liability incurred by any person before that day,^F1

(c)the trustees are not resident in the United Kingdom at the time the property is transferred, and^F1F3F4

(d)the transferor knows, or has reason to believe, that the trustees are not so resident ... .^F1F5F6

(2)Before the expiry of the period of twelve months beginning with the relevant day, the transferor shall deliver to the Board a return which—^F1

(a)identifies the settlement, and^F1

(b)specifies the property transferred, the day on which the transfer was made, and the consideration (if any) for the transfer.^F1

(3)For the purposes of sub-paragraph (2) above the relevant day is the day on which the transfer is made.^F1

(1)This paragraph applies if a settlement is created on or after the commencement day, and at the time it is created—^F1

(a)the trustees are not resident in the United Kingdom, or^F1F7F8

(b)the trustees are resident ... in the United Kingdom but fall to be regarded for the purposes of any double taxation relief arrangements as resident in a territory outside the United Kingdom.^F1F9F10

(2)Any person who—^F1

(a)is a settlor in relation to the settlement at the time it is created, and^F1

(b)at that time fulfils the condition mentioned in sub-paragraph (3) below,^F1

shall, before the expiry of the period of three months beginning with the relevant day, deliver to the Board a return specifying the particulars mentioned in sub-paragraph (4) below.

(3)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.^F1F11F12F13

(3A)Repealed^F14F1

(4)The particulars are—^F1

(a)the day on which the settlement was created;^F1

(b)the name and address of the person delivering the return;^F1

(c)the names and addresses of the persons who are the trustees immediately before the delivery of the return.^F1

(5)For the purposes of sub-paragraph (2) above the relevant day is the day on which the settlement is created.^F1

(1)This paragraph applies if a settlement is created on or after 19th March 1991, and at the time it is created—^F1

(a)the trustees are not resident in the United Kingdom, or^F1F15F16

(2)Any person who—^F1F19

(a)is a settlor in relation to the settlement at the time it is created,^F1

(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,^F1F20

(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,^F1F20

(c)first fulfils the condition mentioned in sub-paragraph (3A) below at a time falling on or after 6 April 2025,^F1F21F22

shall, before the expiry of the period of twelve months beginning with 31 January after the end of the tax year in which the relevant day falls, deliver to the Board a return specifying the particulars mentioned in sub-paragraph (4) below.

(3)The condition is that the person concerned is domiciled in the United Kingdom and is resident in the United Kingdom.^F1F23

(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.^F1F24

(4)The particulars are—^F1

(a)the day on which the settlement was created;^F1

(b)the name and address of the person delivering the return;^F1

(c)the names and addresses of the persons who are the trustees immediately before the delivery of the return.^F1

(5)For the purposes of sub-paragraph (2) above the relevant day is the day on which the person first fulfils the condition as mentioned in paragraph (c) of that sub-paragraph.^F1

(1)This paragraph applies if—^F1

(a)the trustees of a settlement cease at any time (the relevant time) on or after the commencement day to be resident in the United Kingdom, or^F1F25

(b)the trustees of a settlement, while continuing to be resident ... in the United Kingdom, become at any time (the relevant time) on or after the commencement day trustees who fall to be regarded for the purposes of any double taxation relief arrangements as resident in a territory outside the United Kingdom.^F1F26

(2)Any person who was a trustee of the settlement immediately before the relevant time shall, before the expiry of the period of twelve months beginning with the relevant day, deliver to the Board a return specifying—^F1

(a)the day on which the settlement was created,^F1

(b)the name and address of each person who is a settlor in relation to the settlement immediately before the delivery of the return, and^F1

(c)the names and addresses of the persons who are the trustees immediately before the delivery of the return.^F1

(3)For the purposes of sub-paragraph (2) above the relevant day is the day when the relevant time falls.^F1

(1)Nothing in paragraph 2, 3, 4 or 5 above shall require information to be contained in the return concerned to the extent that—^F1

(a)before the expiry of the period concerned the information has been provided to the Board by any person in pursuance of the paragraph concerned or of any other provision, or^F1

(b)after the expiry of the period concerned the information falls to be provided to the Board by any person in pursuance of any provision other than the paragraph concerned.^F1

(2)Nothing in paragraph 2, 3, 4 or 5 above shall require a return to be delivered if—^F1

(a)before the expiry of the period concerned all the information concerned has been provided to the Board by any person in pursuance of the paragraph concerned or of any other provision, or^F1

(b)after the expiry of the period concerned all the information concerned falls to be provided to the Board by any person in pursuance of any provision other than the paragraph concerned.^F1

Notes

F1
Sch. 5A inserted (3.5.1994) by Finance Act 1994 (c. 9), s. 97(3)
F2
Words in Sch. 5A para. 2(1)(a) substituted (with effect in accordance with s. 131(4) of, Sch. 22 para. 5(2) of the amending Act) by Finance Act 1998 (c. 36), Sch. 22 para. 5(1)
F3
Words in Sch. 5A para. 2(1)(c) substituted (with effect in accordance with Sch. 12 para. 30(5) of the amending Act) by Finance Act 2006 (c. 25), Sch. 12 para. 30(1)(2)(c)
F4
Words in Sch. 5A para. 2(1)(c) substituted (with effect in accordance with Sch. 46 para. 112 of the amending Act) by Finance Act 2013 (c. 29), Sch. 46 para. 109(2)(a) (with Sch. 46 para. 109(6))
F5
Words in Sch. 5A para. 2(1)(d) substituted (with effect in accordance with Sch. 12 para. 30(5) of the amending Act) by Finance Act 2006 (c. 25), Sch. 12 para. 30(3)
F6
Words in Sch. 5A para. 2(1)(d) omitted (with effect in accordance with Sch. 46 para. 112 of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 46 para. 109(2)(b) (with Sch. 46 para. 109(6))
F7
Words in Sch. 5A para. 3(1)(a) substituted (with effect in accordance with Sch. 12 para. 30(6) of the amending Act) by Finance Act 2006 (c. 25), Sch. 12 para. 30(1)(2)(c)
F8
Words in Sch. 5A para. 3(1)(a) substituted (with effect in accordance with Sch. 46 para. 112 of the amending Act) by Finance Act 2013 (c. 29), Sch. 46 para. 109(3)(a)(i) (with Sch. 46 para. 109(6))
F9
Words in Sch. 5A para. 3(1)(b) substituted (with effect in accordance with Sch. 12 para. 34(4) of the amending Act) by Finance Act 2006 (c. 25), Sch. 12 para. 34(1)(2)(g)
F10
Words in Sch. 5A para. 3(1)(b) omitted (with effect in accordance with Sch. 46 para. 112 of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 46 para. 109(3)(a)(ii) (with Sch. 46 para. 109(6))
F11
Words in Sch. 5A para. 3(3) omitted (for the tax year 2025-26 and subsequent tax years) by virtue of Finance Act 2025 (c. 8), s. 40(4), Sch. 9 para. 20(2)(a) (with Sch. 9 para. 20(4)(5))
F12
Word in Sch. 5A para. 3(3) substituted (with effect in accordance with Sch. 46 para. 112 of the amending Act) by Finance Act 2013 (c. 29), Sch. 46 para. 109(3)(b) (with Sch. 46 para. 109(6))
F13
Words in Sch. 5A para. 3(3) inserted (for the tax year 2025-26 and subsequent tax years) by Finance Act 2025 (c. 8), s. 40(4), Sch. 9 para. 20(2)(b) (with Sch. 9 para. 20(4)(5))
F14
Sch. 5A para. 3(3A) omitted (for the tax year 2025-26 and subsequent tax years) by virtue of Finance Act 2025 (c. 8), s. 40(4), Sch. 9 para. 20(2)(c) (with Sch. 9 para. 20(4)(5))
F15
Words in Sch. 5A para. 4(1)(a) substituted (with effect in accordance with Sch. 12 para. 30(6) of the amending Act) by Finance Act 2006 (c. 25), Sch. 12 para. 30(1)(2)(c)
F16
Words in Sch. 5A para. 4(1)(a) substituted (with effect in accordance with Sch. 46 para. 112 of the amending Act) by Finance Act 2013 (c. 29), Sch. 46 para. 109(4)(a)(i) (with Sch. 46 para. 109(6))
F17
Words in Sch. 5A para. 4(1)(b) substituted (with effect in accordance with Sch. 12 para. 34(4) of the amending Act) by Finance Act 2006 (c. 25), Sch. 12 para. 34(1)(2)(g)
F18
Words in Sch. 5A para. 4(1)(b) omitted (with effect in accordance with Sch. 46 para. 112 of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 46 para. 109(4)(a)(ii) (with Sch. 46 para. 109(6))
F19
Words in Sch. 5A para. 4(2) substituted (for the tax year 2025-26 and subsequent tax years) by Finance Act 2025 (c. 8), s. 40(4), Sch. 9 para. 20(3)(c) (with Sch. 9 para. 20(4)(5))
F20
Sch. 5A para. 4(2)(b)(ba) substituted for Sch. 5A para. 4(2)(b) (for the tax year 2025-26 and subsequent tax years) by Finance Act 2025 (c. 8), s. 40(4), Sch. 9 para. 20(3)(a) (with Sch. 9 para. 20(4)(5))
F21
Words in Sch. 5A para. 4(2)(c) substituted (for the tax year 2025-26 and subsequent tax years) by Finance Act 2025 (c. 8), s. 40(4), Sch. 9 para. 20(3)(b)(i) (with Sch. 9 para. 20(4)(5))
F22
Words in Sch. 5A para. 4(2)(c) substituted (for the tax year 2025-26 and subsequent tax years) by Finance Act 2025 (c. 8), s. 40(4), Sch. 9 para. 20(3)(b)(ii) (with Sch. 9 para. 20(4)(5))
F23
Word in Sch. 5A para. 4(3) substituted (with effect in accordance with Sch. 46 para. 112 of the amending Act) by Finance Act 2013 (c. 29), Sch. 46 para. 109(4)(b) (with Sch. 46 para. 109(6))
F24
Sch. 5A para. 4(3A) inserted (for the tax year 2025-26 and subsequent tax years) by Finance Act 2025 (c. 8), s. 40(4), Sch. 9 para. 20(3)(d) (with Sch. 9 para. 20(4)(5))
F25
Words in Sch. 5A para. 5(1)(a) substituted (with effect in accordance with Sch. 46 para. 112 of the amending Act) by Finance Act 2013 (c. 29), Sch. 46 para. 109(5)(a) (with Sch. 46 para. 109(6))
F26
Words in Sch. 5A para. 5(1)(b) omitted (with effect in accordance with Sch. 46 para. 112 of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 46 para. 109(5)(b) (with Sch. 46 para. 109(6))