Part II Income Tax, Corporation Tax and Capital Gains Tax
Chapter I General
Miscellaneous
118 Scottish trusts.
1
Where—
a
any of the income of a trust having effect under the law of Scotland is income to which a beneficiary of the trust would have an equitable right in possession if that trust had effect under the law of England and Wales, and
b
the trustees of that trust are resident in the United Kingdom,
the rights of that beneficiary shall be deemed for the purposes of the Income Tax Acts to include such a right to that income notwithstanding that no such right is conferred according to the law of Scotland.
2
This section shall have effect in relation to the income of any trust for the year 1993–94 or any subsequent year of assessment.