SDLTM31700 - Application: Trusts and powers: Introduction FA03/S105 and FA03/SCH16
FA03/S105 and FA03/SCH16 set out the responsibilities of trustees and how Stamp Duty Land Tax (SDLT) applies in relation to interests in trusts and to the acquisition of a chargeable interest through the exercise of a power of appointment or a discretion.
»Ê¹ÚÌåÓýapp responsibilities of the trustee and beneficiaries in SDLT depend on the kind of trust in which the land is held.
»Ê¹ÚÌåÓýappre are two basic types for the purposes of SDLT
- bare trusts which include nominee arrangements. See SDLTM31710
- settlements. See SDLTM31720