Introduction to trusts: supplementary deeds: reasons for supplementary deeds
About supplementary deeds
There are many names for supplementary deeds. Some do not always reflect the true nature of the deed. TSEM1815 onwards has details of various types.
A deed can affect the taxation of
Other reasons for a deed include
- ending a trust. This could have Capital Gains Tax implications. Details are at CG37300 onwards. External customers can find this guidance at http://www.hmrc.gov.uk/manuals/cgmanual/CG37300.htm.
- appointing new trustees. The new trustees may be resident outside the United Kingdom. If so, the trust could become the responsibility of HMRC Trusts & Estates Nottingham (TSEM1450)
- removing beneficiaries
- adding beneficiaries
- adding excluded persons
- transferring capital to another existing trust
- transferring income to another existing trust
- adding administrative provisions
- changing the law applying from the law of England and Wales to a foreign law If so, the trust could become the responsibility of HMRC Trusts & Estates Nottingham (TSEM1450).