Commentary on Sections Paragraph 13 of schedule 2A – Deemed ownership: beneficiaries under certain trusts
65.Paragraph 13 concerns beneficiaries under bare trusts and certain other settlements, which are trusts other than bare trusts. In the case of a bare trust and a settlement having a relevant interest (as defined in paragraph 20) in trust property comprising a dwelling, the beneficiary will be treated as the owner of the dwelling for the purposes of considering whether the additional amount of LBTT applies to a chargeable transaction.
66.Interpretative provisions of the 2013 Act relevant to Paragraph 13—