The shift from an inclusionary to an exclusionary focus: the relatively late appearance of beneficial ownership in UK tax statutes

Publication Type

Book Chapter

Publication Date

10-2025

Abstract

Beneficial ownership is a prominent method of attribution used today, applied in situations where it is necessary to connect an asset to a person for various purposes across different areas of law such as equity and trusts, tax, property, and anti-money laundering. Much has been written about the concept in tax law in modern times, though perhaps less about the historical origins and development of the concept. This chapter seeks to fill a gap in the literature discussing the history of the concept, utilising as its primary method of analysis the study of historical statutes and how they evolved over time. It starts with the modern conception of beneficial ownership as a concept inextricable from the law of equity, with its core being the idea that a person has a legal duty to hold assets for the benefit of another (to the exclusion of its own benefit).

Keywords

Tax Law

Discipline

Tax Law

Research Areas

Corporate, Finance and Securities Law

Publication

Studies in the history of tax law volume 12

Editor

HARRIS, Peter; DE COGAN, Dominic

First Page

189

Last Page

204

Publisher

Hart

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