I have a question about property-co ownerships where the trustees also hold a bank account (and potentially other investments), and whether these are considered to constitute separate trusts for the purpose of the TRS.
For example, I have the following two situations:
- A&B hold a property for the benefit of B&C. There is a also a bank account held by A&B for the benefit of B&C, which receives rent from the property and pays tax and expenses.
- The same as example 1), but additionally, A&B hold an investment portfolio for the benefit of B&C.
I believe that in the case of example (1) there will only be one trust to register (being the property and an account pertaining to it), but I am less sure about example (2)?