Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Trust definition

What does Trust mean? A trust is a legal arrangement in which one or more trustees hold and manage property (the trust property) for the benefit of beneficiaries. It is primarily defined by case law rather than a single statute, though key rules appear in legislation (for example, writing requirements and trustee powers). Trusts arise by express declaration (usually by a settlor), by operation of law (resulting or constructive trusts), or under statute, and are used in private client, commercial, pension and charitable contexts. Core features include: the trustee’s fiduciary duties to act loyally, prudently and in accordance with the trust terms; control...

Offshore trusts settled pre-deemed domicile: UK income tax, CGT and IHT rules on protected settlements, tainting and beneficiary benefits for deemed domiciled settlors (6 April 2017–5 April 2025)

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Practice notes

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ARCHIVED:

This archived PrACTice Note offers a brief overview of the income tax and Capital gains tax regime introduced by the Finance (No 2) Act 2017, relevant to offshore Trusts settled by non-UK domiciliaries before they became Deemed domiciled in the UK, applying from 6 April 2017 until 5 April 2025.

It outlines the income tax and capital gains tax (CGT) rules for non-UK resident trusts established by non-UK domiciliaries prior to becoming deemed domiciled in the UK from 6 April 2017, operating under section 835BA of the Income Tax Act 2007 (ITA 2007), a provision brought in by the Finance (No 2) Act 2017 (F(No 2)A 2017).

This Note does not cover the inheritance tax (IHT) treatment of residential property held through such trusts; see Practice Note: IHT on UK residential property held indirectly by non-domiciliaries from 6 April 2017.

For guidance on when a trust is treated as non-UK resident, refer to Practice Note: Tax position of non-resident trusts. For more on the changes to the deemed domicile rules, including the history of the proposals, see Practice Note: Deemed domicile for tax from 6 April 2017...

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Web page updated on 22/05/2026

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