Part 9Special rules about settlements and trustees
C1Chapter 2General provision about settlements and trustees
Trustees
476How to work out whether settlor meets condition C
1
This section applies for the purpose of working out whether a settlor (“S”) in relation to a settlement meets condition C at a time.
2
If—
a
the settlement arose on S's death (whether by S's will, on S's intestacy or in any other way), and
b
immediately before S's death, S was UK resident F1... or domiciled in the United Kingdom,
then S meets condition C from the time of S's death until S ceases to be a settlor in relation to the settlement.
3
If—
a
the settlement is not within subsection (2)(a), and
b
at a time when S made the settlement (or is treated for the purposes of the Income Tax Acts as making the settlement), S was UK resident F2... or domiciled in the United Kingdom,
then S meets condition C from that time until S ceases to be a settlor in relation to the settlement.
4
Further, if—
a
there is a transfer of property in relation to which section 471 applies,
b
S is a settlor in relation to settlement 2 as a result of that section, and
c
immediately before the disposal by the trustees of settlement 1, S meets condition C as a settlor in relation to settlement 1 as a result of subsection (2) or (3) or this subsection,
then S meets condition C as a settlor in relation to settlement 2 from the time S becomes such a settlor until S ceases to be such a settlor.
5
“Settlement 1” and “settlement 2” are to be read in accordance with section 470(1).
Pt. 9 Ch. 2 applied (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), ss. 1169(1), 1184(1) (with Sch. 2)