782-760 Taxation of Unauthorised Unit Trusts after 6 April 2014: 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). The Regulations come into force on 6th April 2014 subject to certain provisions which come into effect on 1 November 2013 (see reg. 1(2)). 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) if:
(1)its trustees are UK resident for the relevant period of account;
(2)all of its unit holders are eligible investors (¶782-770) throughout the period of account;