Tax Pool 2016/2017 - dividend rate

[Dowland]

If we assume that a discretionary trust has dividend income for 2016/2017 of £1,100, savings income of £341 and that it pays allowable Trust Management expenses of £260 should the 7.5% tax chargeable on the grossed up TMEs equivalent to £21.08 (£260/92.5% x 7.5%) go into the tax pool and be available to frank payments to beneficiaries.

I realise that there were issues with the FB 2016 relating to the trust dividend rate and whether credits would enter the tax pool.

I have used my third party software and this seems to exclude the tax at 7.5% on the grossed up TMEs. Looking at HMRC's tax calculation sheet I cannot see any relief for this.

Tax is payable on this part of the income so I do not understand why it is not entering the tax pool.

Can anyone point me in the right direction?

[maths]

The grossed up TMEs equals 281.

Dividends = 1100 - 281 = 819.

Tax charge:

341 @ 20% = 68
659 @ 7.5% = 49
[819 - 659] @ 38.1% = 61

Tax pool = 178