1105. Trustees.

Every person who:

  1.  

    (1)     is liable as trustee of a settlement1 for inheritance tax on the value transferred by a transfer of value2, or would be so liable if tax were chargeable on that value3; or

  2.  

    (2)     is liable as trustee of a settlement for tax on an occasion on which tax is chargeable under the provisions relating to settlements without an interest in possession4, or would be so liable if tax were chargeable on the occasion5,

must deliver to the Commissioners for Her Majesty's Revenue and Customs an account