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Trading Trusts

There are uses for trusts in protecting the family business and assisting in its passing smoothly down the generations, while also protecting the interests of some members of the family who, for one reason or another, are vulnerable. This, however, would normally be achieved by having the trust own the shares in companies that trade rather than having the trust itself enter into a trade. There is a misconception that the income of trading trusts in the Isle of Man is not subject to tax.