Schedule 3A, paragraph 23A(1)

A trust which— does not hold any interest in land in the United Kingdom; does not hold assets of appreciable worth with a value exceeding £2,000 in total; has not held property with a cumulative total value exceeding £10,000 since the date on which it was created; and does not have an income exceeding £5,000 per annum.

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Source: legislation.gov.uk · retrieved 2026-09-04