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).