Section 18C(5)

For the purposes of paragraphs (1) and (2), trust services are provided for the benefit of a person (“B”) where— B is a beneficiary of a trust or similar arrangement, B is referred to as a potential beneficiary in a document from the settlor relating to a trust or similar arrangement (such as a letter of wishes), or having regard to all the circumstances, B might reasonably be expected to obtain, or to be able to obtain, a significant financial benefit from the trust or similar arrangement.

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Source: legislation.gov.uk · retrieved 2026-08-30