»Ê¹ÚÌåÓýapp

»Ê¹ÚÌåÓýapp election must contain the following:-

• A declaration by each trustee of the principal settlement that he or she consents to the election.
• A statement by the trustees that the four conditions are satisfied.
• Such information as HMRC may require.
• A declaration by the trustees that the information given is correct.

»Ê¹ÚÌåÓýapp two declarations and the statement are incorporated in the body of form SFE1 and there are spaces for the information. »Ê¹ÚÌåÓýapp form specifically asks for details of the trustees of the sub-fund settlement (identifying any who will remain, for the time being, trustees of the principal settlement), details of the trusts, property, settlors and beneficiaries.

A notice may be issued to any one of the trustees, settlors and/or the beneficiaries of the principal or sub-fund settlements requiring information to be provided to establish whether any of the four conditions are met.