Accumulations of income

Accumulations of income

Author: Bob Sheasby (2000)

Bob Sheasby – HSBC Trust Company (UK) Limited
(taken from Isssue No 11 –  April 2000)

Late one night I sat down to read the notes produced by the Inland Revenue (as one does!) on how to fill in the Trust and Estate tax Return.

When turning to question 13, which deals with the tax treatment of discretionary payments of income made to beneficiaries, I noticed that the Revenue consider that ` …. payments out of capital or accumulated income are not to be regarded as the income of a beneficiary irrespective of the purposes for which they are made ….`

Trust Quarterly Review

Trust Quarterly Review

The Trust Quarterly Review is published in partnership with STEP, it discusses matters of interest to trustees and executors with a focus on the particular interests of trust corporations in mind

TACT members

Upcoming TACT meetings and events

Upcoming TACT meetings and events

Talk to TACT

For more information fill out the form below or contact Scott Clayton on
020 3576 3516 or email scott.clayton@tactweb.org.

  By submitting your details, you consent to their use as set out in our Privacy Policy.