Taxes Management Act 1970

28 Non-resident companies and trusts

(1) A person holding shares or securities in a company which is not resident or ordinarily resident in the United Kingdom, or who is interested in settled property under a settlement the trustees of which are not resident or ordinarily resident in the United Kingdom, may be required by a notice by the Board to give such particulars as the Board may consider are required to determine whether the company or trust falls within section 41 (non-resident companies) or section 42 (non-resident trusts) of the Finance Act 1965, and whether any chargeable gains have accrued to that company, or to the trustees of that settlement, in respect of which the person to whom the notice is given is liable to capital gains tax under the said section 41 or the said section 42.

(2) In this section " settled property " has the meaning given by section 45(1) of the Finance Act 1965, and " company " and " shares " shall be construed in accordance with subsections (1) and (8) of that section.