Trusts

Featured guidance
Trusts guidance:

FORTHCOMING CHANGE: As originally announced at Autumn Budget 2017 and followed up by written statement after Spring Statement 2018, plus an announcement in Budget 2018,...

Practice Note

Increasingly, UK trustees hold foreign assets as part of trust property. This may be because: • they have been put into trust by the original settlor • they form part of...

Practice Note

Powers to invest Trustees' powers to administer a trust are set out in statute, mainly the Trustee Act 1925 and the Trustee Act 2000 (TrA 2000) as supplemented by the...

Practice Note

Commercial property Commercial property is that which is intended to produce a financial return for its owner by being used or occupied by businesses. That return can...

Practice Note

Before purchasing a residential property trustees should instruct a surveyor to carry out a valuation and building survey. The surveyor should be a member of the Royal...

Practice Note

Where agricultural land is an investment asset for trustees, they should have an understanding of the main factors affecting its performance. There are many factors that...

Practice Note

Letting of agricultural land Agricultural tenancies The Agricultural Tenancies Act 1995 (ATA 1995) introduced farm business tenancies (FBTs) to replace the old-style...

Practice Note

This Practice Note was originally drafted by Christopher Kerr-Smiley, Legal Director at Womble Bond Dickinson, but is now maintained by Lexis®PSL Private Client....

Practice Note

The Variation of Trusts Act 1958 (VTA 1958) gives the court the jurisdiction to approve variations to the terms of a trust on behalf of beneficiaries who are unable to...

Practice Note

This Practice Note considers the meaning of 'bare trust' and the inheritance tax (IHT) treatment of such a trust. For information on the income tax and capital gains tax...

Practice Note

This Practice Note explains how trustees of bare trusts are treated for income tax and capital gains tax (CGT) purposes. Although a bare trust is, in equity, a type of...

Practice Note

FORTHCOMING CHANGE: The fifth anti-money laundering directive (5MLD) was published in the EU official journal on 19 June 2018 and came into force on 9 July 2018. The...

Practice Note

This Practice Note outlines Bermuda trust law and focuses upon its unique features and recent reforms, such as Bermuda's regime for private trust companies (PTCs) and...

Practice Note

This Practice Note discusses the impact of Brexit on the general processing of personal data under the General Data Protection Regulation, Regulation (EU) 2016/679...

Practice Note

Capacity to sell Trustees of land have all the powers of an absolute owner in relation to the land which is subject to the trust. A buyer from trustees of land is not...

Practice Note

Co-ownership Where property is purchased in the joint names of two or more co-owners a statutory ‘trust of land’ arises. Trustee Act 1925, s 34(2) limits the number of...

Practice Note