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H Reynold Galbraith, SCOTTISH TRUSTS: A DRAFTING GUIDE Edinburgh: W Green & Son (http://www.wgreen.co.uk), 2006. xii and 258 pp. ISBN 9780414015999. £69.

Document Cited authorities 4 Cited in Related
Vincent
DOI10.3366/E1364980908240229
AuthorSimon A Mackintosh
Pages159-160
Published date01 January 2008
Date01 January 2008

The title of this book fails to do justice to the breadth of material contained within it. Its target audience is wide, including solicitors and others involved with drafting trust deeds, insurance companies, bank trustee departments, and financial advisers. The parts on the tax treatment of trusts and problem solving are intended to help chartered accountants in Scotland and in the rest of the UK; it is also hoped that students may benefit as well as the general reader looking for a “ready short treatment of the law of trusts in Scotland”.

Unluckily, the Finance Act 2006, with its major changes to the taxation of trusts, was being enacted as the book was going to press. Given the last-minute nature of some of the changes which it made, it is, on reflection, a pity that publication was not delayed a little longer, to allow the author to review the text against the final version of the Finance Act 2006.

The rushed nature of some of the revisals necessitated by the legislative changes is clear in some areas – for example para 9-03 which, under the general heading of the Charities and Trustee Investment (Scotland) Act 2005, covers not only the Charity Register, but also the legislation on “modernising the tax system for trusts” and the Civil Partnership Act 2004.

Some aspects of the book could usefully be expanded – for example the paragraph dealing with the uses of accumulation and maintenance trusts under the old inheritance tax legislation; and I found it surprising that the impact of the Trusts (Scotland) Act 1961 was dealt with in only three sentences, that Act (as amended) being of critical importance in the examination of accumulation...

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