SCHEDULE 8TRUSTS
Overview
1
(1)
This Schedule makes provision about the application of this Act and TCMA in relation to trusts.
(2)
This Schedule is arranged as follows—
(a)
paragraph 2 defines key terms;
(b)
paragraph 3 makes provision about transactions involving bare trusts;
(c)
paragraphs 4 to 10 make provision about transactions involving settlements and the responsibilities of trustees of a settlement;
(d)
paragraph 11 makes provision about the treatment of the interests of beneficiaries under certain trusts.