| 释义 |
beneficial interest
The rights of a beneficiary in respect of the property held in trust for him. Taxation is (generally) concerned with beneficial ownership and not with legal title. Thus, if the name of A appears on the Land Registry certificate, but A is holding the land on behalf of C, D and E, income arising from the land is assessed on C, D, and E; capital gains tax is charged on C, D, and E when the land is sold. See also bare trust; equitable interests. |