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Trusts and Succession (Scotland) Bill: business and regulatory impact assessment

This business and regulatory impact assessment (BRIA) considers the impact of the Trusts and Succession (Scotland) Bill.


Footnotes

1. Heritable Reversionary Co Ltd v Millar (1892) 19 R (HL) 43. See also the Bankruptcy (Scotland) Act 2016, s88(1)(c).

2. Allan's Trs v Lord Advocate 1971 SC (HL) 45.

3. The Report can be accessed at https://www.scotlawcom.gov.uk/files/7112/7989/7451/rep215.pdf

4. The consultation can be accessed at https://www.webarchive.org.uk/wayback/archive/20150828184326/http://www.gov.scot/Publications/2015/06/7518/downloads

5. R & J Dempster Ltd v Motherwell Bridge and Engineering Co Ltd 1964 SC 308, 332 (IH).

6. The National Outcomes can be accessed at https://nationalperformance.gov.scot/national-outcomes

7. https://nationalperformance.gov.scot

8. This can be accessed at https://nationalperformance.gov.scot/national-outcomes/economy

9. This can be accessed at https://nationalperformance.gov.scot/national-outcomes/fair-work-and-business

10. These figures are taken from the Report accessed at https://www.oscr.org.uk/media/4280/599187_sct0421394204-001_oscr_sector-overview-report_final.pdf

11. Accessed July 2022.

12. Some trusts have a registered income of £0 (or no value) which accounts for the difference between the total number of registered charitable trusts and the figures provided.

13. These figures are available at https://www.gov.uk/government/statistics/trust-statistics/trusts-statistics-october-2021--2

14. These figures are available at https://www.ons.gov.uk/peoplepopulationandcommunity/populationandmigration/populationestimates/datasets/populationestimatesforukenglandandwalesscotlandandnorthernireland

15. These figures are available at https://www.nrscotland.gov.uk/files//statistics/population-estimates/mid-20/mid-year-pop-est-20-report.pdf

16. Changes in trust income and taxation for the tax year ending 2021 may have been affected by the economic impacts of the COVID-19 pandemic, therefore a larger degree of change may be observed for this tax year compared to previous years.

17. SLC Discussion Paper on Moveable Transactions (DP No 151, 2011), Appendix C, para 3.

18. The Discussion Paper is available at https://www.scotlawcom.gov.uk/files/1012/7885/3181/dp136.pdf

19. The Report is available at https://www.scotlawcom.gov.uk/files/7112/7989/7451/rep215.pdf

20. The consultation can be accessed at https://www.webarchive.org.uk/wayback/archive/20150828184326/http://www.gov.scot/Publications/2015/06/7518/downloads

21. Scots law "may prove to be of particular interest to civilians considering the implementation of the trust in their domestic law", D J Hayton, S C J J Kortmann and H L E Verhagen (eds), Principles of European Trust Law, (1999), p4.

Contact

Email: michael.paparakis@gov.scot

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