CHAPTER 2

Initial levy on discretionary trusts

14 Interpretation (Chapter 2)

Summary

This section is an interpretation section.

Details

There are 2 definitions in this section—

• “object” means a person who may at any time derive a benefit from the capital or income or part of the capital or income of the trust,
• “principal objects” means the spouse/civil partner, children/children of civil partners and children of a pre-deceased child/child of a civil partner of the disponer.

Relevant Date: Finance Act 2015