782-750 Taxation of Unauthorised Unit Trusts: Exempt Unauthorised Unit Trusts (EUUT)
The tax treatment of EUUTs after 6 April 2014 is governed by the Unauthorised Unit Trusts (Tax) Regulations 2013 (SI 2013/2819) (the Regulations). Only the rules applying from 6 April 2014 are considered here; all subsequent references are to the Regulations unless otherwise stated.
Basic requirements for approval as a EUUT
An unauthorised unit trust (UUT) is an exempt unauthorised unit trust (EUUT) where:
Aits trustees are UK resident for the relevant period of account;
Ball of its unit holders are eligible investors (¶782-770) throughout the period of account;