The provisions in this article apply from 6 April 2014, unless the UUT is a mixed trust (D8.186) in which case the provisions at D8.175 continue to apply.
An unauthorised unit trust (UUT) can either be an exempt unauthorised unit trust (EUUT), or a non-exempt unauthorised unit trust (NEUUT).
Exempt unauthorised unit trust
In order to be an EUUT the following conditions must be satisfied1:
- Ìý
•ÌýÌýÌýÌý its trustees are UK resident for the period
- Ìý
•ÌýÌýÌýÌý throughout the period all of its unit holders are eligible investors (ie exempt from UK CGT or corporation tax for reasons other than residence2, although for the purposes of this condition no account is taken of the possibility of a charge to corporation tax on income in respect of a gain accruing on a disposal by an insurance company or a friendly society3). In determining whether all unit holders are eligible investors no account is taken of units acquired by the managers of the trust (in that capacity)
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Web page updated on 17 Mar 2025 13:39