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HMRC internal manual

Trusts, Settlements and Estates Manual

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.

This includes:

  • 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.