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HMRC internal manual

Trusts, Settlements and Estates Manual

Trust income and gains: Accrued Income Scheme trusts outside the provisions - bare trustees


The Accrued Income Scheme does not apply to bare trustees.

The beneficiary of a bare or simple trust has the right to take actual possession of the trust property. Bare or simple trustees are ‘names’ or ‘dummies’ for the true owner. They are often known as nominees, especially if the assets are shares in a limited company.