Untangling Beneficial Ownership & Entitlement in UK Tax

Introduction

Determining who truly owns an asset for tax purposes is not always straightforward. Legal ownership and beneficial ownership can differ, particularly where trusts, informal arrangements, or equitable principles apply.

During this new virtual classroom seminar, expert speaker Chris Thorpe will explore how beneficial ownership and entitlement operate in a UK tax context and why identifying them correctly is essential for accurate tax treatment and compliance.

Designed for tax practitioners, accountants, and advisers dealing with property, trusts, and complex ownership structures, this session will provide the insight needed to understand how beneficial ownership impacts UK tax obligations.

What You Will Learn

This live and interactive session will cover the following:

• Why beneficial ownership is important for tax
• The distinction between legal ownership and beneficial ownership
• Key implications for income tax, capital gains tax, and inheritance tax
• Express trusts and implied trusts
• What are express trusts?
• Circumstances in which implied trusts arise without formal documentation
• The main types of implied trusts, including resulting and constructive trusts
• Practical examples of where these arrangements arise in property, family, and business contexts
• Proprietary estoppel and its interaction with implied trusts
• The core principles of proprietary estoppel
• How promises, reliance, and detriment can give rise to equitable interests in property
• The relationship between proprietary estoppel and constructive trusts
• Situations in which proprietary estoppel may affect beneficial ownership and tax outcomes

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.