Section 464 | Scottish trusts

(1)This section applies if—

(a)income arises to trustees under a trust having effect under the law of Scotland,

(b)the trustees are UK resident, and

(c)a beneficiary under the trust (“B”) would have an equitable right in possession to the income if the trust had effect under the law of England and Wales.

(2)B is treated for income tax purposes as having an equitable right in possession to the income (even though B has no such right under the law of Scotland).