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Blind trust

14 September 2010
Issue: 4272 / Categories: Forum & Feedback
To avoid any conflict of interest, actual or perceived, government ministers must place their investments in a blind trust. Superficially, this seems straightforward, but what are the practicalities?

One of our clients has become a cabinet minister. As a result the Cabinet Office has advised that a blind trust has become necessary for his investments. All that side of things – the trusteeship etc. – we can deal with but the question arises about a tax return for the trust notifying HMRC etc.

Do Taxation readers have any general guidance please?

We can’t help feeling that to make it completely ‘blind’ we should be completing a trust tax return to give effect (somehow) to our client’s marginal tax rates on the income and gains and not actually putting anything at all on his personal self-assessment tax return even though it is a bare trust.

Any clarification or advice would be very welcome.

Query 17 666 – J

Reply from KS

The nature of a trust (which determines how it is...

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