TSEM10135 - Non-resident trusts: new non-resident trust: completed form 50FS not received -

If a form 50FS is not received, HMRC can issue a formal notice requiring such particulars for the purpose of considering liabilities which may arise on the settlors or beneficiaries of the trust under the transfer of assets legislation (ITA/s748) or from the attribution of trust gains to beneficiaries (TCGA 1992/s98).

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