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HMRC internal manual

Trusts, Settlements and Estates Manual

Legal background to trusts & estates: splitting an absolute interest

 

A person with an absolute legal interest can create beneficial interests over that asset. He can

  • retain the legal interest, or
  • pass the legal interest to trustees, or
  • transfer the legal interest to a nominee while retaining the beneficial interest.

TSEM6213 explains how this division can create a trust