Related Commentary  Related HMRC Manuals

201(1)  The persons liable for the tax on the value transferred by a chargeable transfer made under Part III of this Act are–

(a)the trustees of the settlement;

(b)any person entitled (whether beneficially or not) to an interest in possession in the settled property;

(c)any person for whose benefit any of the settled property or income from it is applied at or after the time of the transfer;

(d)where the transfer is made during the life of the settlor and the trustees are not for the time being resident in the United Kingdom, the settlor.

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