Part 1 Bare Trusts
Finance Act 2018 (2018 c 3) | Legislation

SCHEDULE 6 Partnerships

Section 18

Part 1 Bare Trusts

1

In ITTOIA 2005, after section 848 insert—

“848A Bare trusts

(1)     This section applies if—

(a)     a partner in a firm is partner as trustee for a beneficiary who is absolutely entitled to the partner's share of the profits of the firm, and

(b)     the beneficiary is chargeable to tax on those profits.

(2)     References

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