SCHEDULES
F1SCHEDULE 4BTransfers of value by trustees linked with trustee borrowing
Ordinary trust assets
7
(1)
The following are “ordinary trust assets” for the purposes of this Schedule—
(a)
shares or securities;
(b)
tangible property, whether movable or immovable, or a lease of such property;
(c)
property not within paragraph (a) or (b) which is used for the purposes of a trade, profession or vocation carried on—
(i)
by the trustees, or
(ii)
by a beneficiary who has an interest in possession in the settled property;
(d)
any right in or over, or any interest in, property of a description within paragraph (b) or (c).
(2)
In sub-paragraph (1)(a) “securities” has the same meaning as in section 132.