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Income Tax Act 2007

Section 464: Scottish trusts

1346.This section concerns beneficiaries of Scottish trusts. It is based on section 118(1) of FA 1993.

1347.For certain income tax purposes, trusts under which the beneficiaries have an equitable right in possession are treated differently to discretionary trusts. Scottish law does not recognise the concept of an equitable right in possession. So this section provides for the law of England and Wales to be applied for the purpose of determining whether beneficiaries under a Scottish trust have an equitable right in possession for income tax purposes.

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