Example sentences of "set up [art] trust [to-vb] " in BNC.
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| 1 | In general terms this means that if one sets up a trust to accumulate income , and the settlor has not completely divested himself of the trust property , he will be chargeable to income tax on the trust income . |
| 2 | In a profit sharing scheme ( s 186 , ICTA 1988 ) , the company sets up a trust to buy shares on behalf of employees . |
| 3 | Under an employee share ownership plan or ESOP ( ss 67 to 74 , Finance Act 1989 ) , the company sets up a trust to buy shares for distribution to employees . |
| 4 | Before he died my father set up a trust to endow the Sherman Field Museum of Natural History in Washington . |
| 5 | But in 1985 , after the Sino-British settlement was announced , he resigned , declaring the move to be a protest against Britain 's withholding of full citizenship from Hong Kong passport holders , and set up a trust to advise would-be emigrants on alternative rights of abode . |
| 6 | However , there is no exclusion from the application of Part XV similar to that contained in TA 1988 , s741 , ie it applies whether or not the taxpayer set up the trust to avoid tax and whether or not the transaction was a bona fide commercial transaction . |