SDLTM31700 - Application
Trusts and powers: Introduction FA03/S105 and FA03/SCH16
FA03/S105 and FA03/SCH16 set out the responsibilities of
trustees and how stamp duty land tax applies in relation to
interests in trusts and to the acquisition of a chargeable interest
through the exercise of a power of appointment or a discretion.
The responsibilities of the trustee and beneficiaries in
stamp duty land tax depend on the kind of trust in which the land
is held.
There are two basic types for the purposes of stamp duty land
tax
- bare trusts which include nominee arrangements. See SDLTM31710
- settlements. See SDLTM31720
