TSEM6281 | Legal background to trusts and estates: unit trust

This manual does not cover the tax treatment of, or what is meant by, trusts established as unit trust schemes. Advice on unit trust schemes is at:

• IFM02000 onwards for authorised unit trust schemes

• IFM10000 onwards for unauthorised unit trusts

• IFM12000 onwards for foreign unit trusts.

Business Tax (Unit & Investment Trusts) can supply additional advice on

• the taxation of unit trust schemes

• any question about whether a trust is a unit trust scheme.

The taxation of participants depends on the character and nature of the scheme in which the interest is held. This applies to

• income from unit trusts

• gains on disposal of interests in unit trusts.

Information about this is in the above guidance and also at CG57680