Even if, which is doubtful, the trustees of a particular trust
could be said to form an association, that would simply be the
result of and incidental to their compliance with the trustee
functions. It would not be correct to say that the trustees were
carrying out those functions as an association rather than as
trustees. The profits would still accrue to them in a fiduciary or
representative capacity for the purposes of ICTA88/S8 (2).
On the other hand, an unincorporated association that has
income arising from assets may well vest legal ownership in
trustees. Clubs with substantial assets often do this to overcome
any problems with lack of legal personality. In this case the club
is chargeable to CT with allowance for any IT that may have been
deducted by the trustees.
