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Finance Act 2003
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- UK Public General Acts
- 2003 c. 14
- SCHEDULE 16
- Interests of beneficiaries under...
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Changes over time for: Cross Heading: Interests of beneficiaries under certain trusts
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Finance Act 2003, Cross Heading: Interests of beneficiaries under certain trusts is up to date with all changes known to be in force on or before 26 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Interests of beneficiaries under certain trustsU.K.
2U.K.Where property is held in trust under the law of Scotland, or of a country or territory outside the United Kingdom, on terms such that, if the trust had effect under the law of England and Wales, a beneficiary would be regarded as having an equitable interest in the trust property—
(a)that beneficiary shall be treated for the purposes of this Part as having such an interest notwithstanding that no such interest is recognised by the law of Scotland or, as the case may be, the country or territory outside the United Kingdom, and
(b)an acquisition of the interest of a beneficiary under the trust shall accordingly be treated as involving the acquisition of an interest in the trust property.
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