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HMRC internal manual

Capital Gains Manual

Trusts: definition: trustees

There must be one or more TRUSTEES. They are the legal owners of the property. They areresponsible to the beneficiaries for ensuring that the terms of the trust are compliedwith. They may have been given considerable discretion by the settlor to decide who shouldbenefit in particular circumstances.

For example they may have POWERS OF APPOINTMENT under which property may be transferred tobeneficiaries or new trusts may be declared.