What is the difference between legal and beneficial ownership? How are the different forms of ownership taxed? 

Joint ownership

Married couples etc

Married couples and civil partners are taxed by default 50:50 on income from property held in joint names regardless of their beneficial interests, although there are some specific rules for certain assets.

Trusts and estates

Transfer of ownership

Anti-avoidance

Useful guides on this topic

Joint property: Legal v beneficial ownership 
What is the difference between legal and beneficial ownership? What are the tax consequences? Are the rules different for married couples?

Joint property elections
When property is held in joint names it is taxed according to beneficial ownership. There is an exception where married couples and civil partnerships hold joint property.

UK Trusts
What is a trust? What types of trust are there? How are UK trusts taxed?

Trusts: Tax Planning
How can trusts be used in tax planning? What are the advantages and what are the pitfalls?

Settlement provisions
What are the settlement anti-avoidance rules? How do these rules catch some common family tax planning? What are the rules for spouses and other family members?

 


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