Taxation of Chargeable Gains Act 1992 Schedule 4B paragraph 7

Ordinary trust assets

Section 7 of Schedule 4B defines what counts as an "ordinary trust asset" for the purposes of the Schedule, covering shares, securities, tangible property, business-use property, and related rights or interests.

• Shares and securities are ordinary trust assets.
• Tangible property (whether movable or immovable) and leases of such property qualify as ordinary trust assets.
• Other property used for a trade, profession or vocation carried on by the trustees or by a beneficiary with an interest in possession in the settled property also qualifies.
• Any rights in or over, or interests in, tangible property or business-use property are included as ordinary trust assets.