IHTM42604 - Foreign element: offshore trust declaration IHTA84/S218
Under IHTA84/S218, where any person, in the course ofÌýa trade or profession carried on by them, other than the profession of a barrister, has been concerned with the making of a settlement and knows or has reason to believe Ìý
that the settlor was long-term UK resident (IHTM47000) (from 6 AprilÌý2025) or was domiciled (IHTM13000) in the United KingdomÌý(to 6 April 2025), and Ìý
that the trustees of the settlement are not or will not be resident in the United Kingdom, Ìý
that person must, within three months of the making of the settlement, make a return to the Board statingÌýthe names and addresses of the settlor and of the trustees of the settlement. Ìý
S218 does not apply if the trust is made by will or if an account IHT100 regardingÌýthe creation of the trust has been delivered to us. Ìý
A penalty arises under IHTA84/S245A (1) if a person fails toÌýmake a return under S218 within 3 months. (IHTM36010)Ìý