TRSM23080 - Types of trust that need to be registered: contents: excluded express trusts: contents: trusts where a disabled person is the beneficiary

Trusts where a disabled person is the beneficiary are excluded from registration as express trusts during the lifetime of the disabled person (Sch3A(22) of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017).

This includes trusts established under the statutory provisions for trusts for disabled persons at s89 IHTA 1984 and Sch1C(3) TCGA 1992.

Definition of disabled person

‘Disabled person’ has the meaning given by Schedule 1A to the Finance Act 2005.

This defines a disabled person as any of the following:

  • a person who is by reason of mental disorder, within the meaning of the Mental Health Act 1983, incapable of administering their own property or managing their own affairs
  • a person in receipt of attendance allowance
  • a person in receipt of a disability living allowance by virtue of entitlement to either the care component at the highest or middle rate, or the mobility component at the higher rate
  • a person in receipt of personal independence payment
  • a person in receipt of an increased disablement payment
  • a person in receipt of constant attendance allowance
  • a person in receipt of armed forces independence payment
  • a person who is in receipt of an attendance allowance under S64 of the Social Security Contributions & Benefits Act 1992 or of the Social Security Contributions & Benefits (Northern Ireland) Act 1992
  • a person who is in receipt of a disability living allowance under S71 of those Acts by virtue of entitlement to the care component at the highest or middle rate.

More information on this can be found at IHTM42805.