Charitable donation by discretionary trust

Charitable donation by discretionary trust

Postby silver on Tue Mar 02, 2010 1:42 pm

The trustees of a discretionary trust wish to make a payment of income to a charity, which is a beneficiary of the trust. Can the charity reclaim the 40% tax credit?
silver
 
Posts: 19
Joined: Wed Aug 06, 2008 3:49 pm

Re: Charitable donation by discretionary trust

Postby maths on Tue Mar 02, 2010 5:47 pm

As the trustees will have paid income tax on the trust income, on payment of the income to the charity the latter are able to reclaim the income tax paid thereon.
maths
 
Posts: 4314
Joined: Wed Aug 06, 2008 3:25 pm


Return to Trusts and Estates

Dorifor Internet Marketing Dorifor Tax Group - our portfolio of tax sites:

UK's largest independent tax portal All the tax books on one site Global tax jobs portal List of UK recruitment agencies and employers Movers & Shakers in the global tax market