Trust income and gains: securities go into trust: Accrued Income Scheme - securities go into trust
When securities go into trust there is a transfer, for Accrued Income Scheme purposes. The transfer is from the settlor to the trustee.
- a settlor creates a new trust by transferring securities to the trustee
- a person who holds securities for his own benefit declares he will in future hold them as trustee
- at the end of an administration period, a personal representative starts to hold securities as trustee of a will trust.