Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Settlement definition

What does Settlement mean? In financial markets practice, settlement is the completion of a securities trade by delivering the securities to the buyer and paying the price to the seller, usually on a scheduled date after the trade (for example, T+2) and commonly on a delivery versus payment (DvP) basis. It is a descriptive market term rather than a single statutory definition, but is governed by legislation and market rules (including the UK onshored CSDR regime and the EU CSDR in Ireland, the Uncertificated Securities Regulations, the Settlement Finality Regulations, and central securities depository and CCP rulebooks). Key features include trade matching/affirmation, allocation of settlement...

UK tax: non-resident trusts—matching capital payments to gains (TCGA 1992 ss 87–87B), 2018 anti-avoidance, supplementary charge and UK property disposals

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Practice notes

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STOP PRESS: Abolition of non-dom regime and introduction of residence-based IHT regime

Finance Act 2025 (FA 2025), which obtained Royal Assent on 20 March 2025, introduces legislation to end the remittance basis and bring in a residence-based system from 6 April 2025. FA 2025 also replaces domicile as the principal determinant of inheritance tax liability.

Additional measures include: revisions to the rules for excluded property status, the removal of protected Settlement status for offshore trusts, and alterations to overseas workday relief.

For detailed guidance, see Practice Notes: The abolition of the remittance basis of taxation from 2025–26 and A new residence-based regime for IHT from 2025–26. See also: Finance Bill Tracking Service: Key dates (Finance Bill 2025) and Finance Act 2025.

Major reforms to the taxation of offshore trusts took effect in 2017 and 2018, summarised in Practice Note: Changes to the taxation of offshore trusts from 6 April 2017. An offshore trust is a trust or settlement where the trustees are not resident in the UK for tax purposes. For information on how settlement residence is established, refer to Practice Note: Tax position of non-resident trusts...

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Web page updated on 21/05/2026

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