Simple trust

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simple trust

n. a trust which requires that all income be distributed each year and not accumulated. (See: trust)

SIMPLE TRUST. A simple trust corresponds with the ancient use, and is where property is simply vested in one person for the use of another, and the nature of the trust, not being qualified by the settler, is left to the construction of law. It differs from a special trust. (q.v.) 2 Bouv. Inst. n. 1896.

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"If that trust is established as a bare trust it will be able to access the child's tax rates and allowances.
There are many different types of trust but the most common are: A Bare trust is where there is a beneficiary chosen at the outset who cannot be changed and is entitled to all of the capital and income from the trust fund once they reach 18.
Treasury will undertake further consultation on the scope of potential changes, for example, in defining the core characteristics of a bare trust for taxation purposes.
Therefore, a trust can be a 'bare trust' where a trustee holds the property in trust for a single beneficiary.
It further identifies a bare trust a "which has a single beneficiary" a as one in which "the beneficiary has an identifiable, equitable interest in some property." The response states that the case against Imran "involves a bare trust."
It further identifies a bare trust 'which has a single beneficiary' as one in which 'the beneficiary has an identifiable, equitable interest in some property.' The response states that the case against Imran 'involves a bare trust.'
It further identifies a bare trust which has a single beneficiary as one in which the beneficiary has an identifiable, equitable interest in some property.
A trust can be a 'bare trust' where a trustee holds the property in trust for a single beneficiary, the PML-N leader stated in his submissions.
NRAM declared a bare trust in favour of the seller over the beneficial interest of the mortgage portfolio.
These shares in Fastnet Hydrocarbons have been transferred into a bare trust established for the benefit of shareholders on the register of the company as at the close of business on 16 December 2015, pro rata to their shareholdings in Fastnet at that date.
If it is a bare trust or an absolute trust, then the tax will be levied upon the beneficiaries.