Finance Act 2013

109 (1) Schedule 5A (settlements with foreign element: information) is amended as follows. U.K.

(2) In paragraph 2(1)—

(a) in paragraph (c), for “neither resident nor ordinarily resident” substitute “ not resident ”, and

(b) in paragraph (d), omit “and ordinarily resident”.

(3) In paragraph 3—

(a) in sub-paragraph (1)—

(i) in paragraph (a), for “neither resident nor ordinarily resident” substitute “ not resident ”, and

(ii) in paragraph (b), omit “and ordinarily resident”, and

(b) in sub-paragraph (3), for “either resident or ordinarily resident” substitute “ resident ”.

(4) In paragraph 4—

(a) in sub-paragraph (1)—

(i) in paragraph (a), for “neither resident nor ordinarily resident” substitute “ not resident ”, and

(ii) in paragraph (b), omit “and ordinarily resident”, and

(b) in sub-paragraph (3), for “either resident or ordinarily resident” substitute “ resident ”.

(5) In paragraph 5(1)—

(a) in paragraph (a), for the words from “become” to “ordinarily resident” substitute “ cease at any time (the relevant time) on or after the commencement day to be resident ”, and

(b) in paragraph (b), omit “and ordinarily resident”.

(6) The amendments made by this paragraph apply as follows—

(a) the amendments made by sub-paragraph (2) apply in relation to transfers of property made on or after 6 April 2013,

(b) the amendments made by sub-paragraphs (3) and (4) apply in relation to settlements created on or after that date, and

(c) the amendments made by sub-paragraph (5) apply to changes in the residence status of trustees on or after that date.