SCHEDULE 18Trusts

PART 2Treatment of trusts and beneficiaries generally

Interests of beneficiaries under certain trusts

2

Paragraphs 3 and 4 apply where property is held in trust—

(a)

under the law of Scotland, or

(b)

under the law of a country or territory outwith 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.