This section applies if a chargeable gain accrues to the trustees of a settlement on the disposal by them of an asset in a year of assessment and the trustees—
are within the charge to capital gains tax in that year of assessment, but
are non-UK resident at the time of the disposal.
Where this section applies, nothing in any double taxation relief arrangements shall be read as preventing the trustees from being chargeable to capital gains tax (or as preventing a charge to tax arising, whether or not on the trustees) by virtue of the accrual of that gain.
For the purposes of this section the trustees of a settlement are within the charge to capital gains tax in a year of assessment—
if, during any part of that year of assessment, they are resident ... in the United Kingdom and not Treaty non-resident, ...
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For the purposes of this section the trustees of a settlement are non-UK resident at a particular time if, at that time,—
they are not resident in the United Kingdom, or
they are resident ... in the United Kingdom but are Treaty non-resident.
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