An in-depth exploration of how business assets are treated under capital gains tax, specifically in relation to entrepreneurs' relief and the historical context of taper relief.
A Discretionary Trust is a type of trust where the shares of each beneficiary are not fixed by the settlor but can be varied at the discretion of the trustees or another appointed person.
A power, introduced by the Trustee Act 2000, that allows trustees to make any kind of investment that they could make if they were absolutely entitled to the assets of the trust fund. Previously, trustees were only permitted to make certain authorized investments. There are still some restrictions on investments in land.
A Massachusetts Trust is a business trust that confers limited liability on the holders of trust certificates, also known as a common law trust. This is a voluntary association of investors who transfer contributed cash or other property to trustees with legal authority to manage the business.
An arrangement enabling property to be held by one or more trustees for the benefit of beneficiaries, commonly used to provide for families and in commercial situations.
A trust certificate is a financial instrument issued to finance the purchase of railroad equipment. Under this arrangement, trustees hold the title to the equipment as security for the loan until the debt is fully repaid.
A trust deed is a legal document that outlines the terms and conditions of a trust, typically including the names of the trustees, the identity of the beneficiaries, the nature of the trust property, and the powers and duties of the trustees.
