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Where Taxpayers and Advisers Meet

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by jrullion
Thu May 21, 2020 12:09 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Disc Trust provides a loan to beneficiary (Tax Implications?)
Replies: 15
Views: 973

Re: Disc Trust provides a loan to beneficiary (Tax Implications?)

Thank you to all who have commented. Could I pose two scenarios? Scenario 1 – Trust makes a loan of £100K to a beneficiary. Since the loan is given interest free the beneficiary will need to declare the benefit on their tax return to HMRC and pay an interest charge to HMRC, in 20/21, of 2.25%. In th...
by jrullion
Wed May 20, 2020 3:29 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Disc Trust provides a loan to beneficiary (Tax Implications?)
Replies: 15
Views: 973

Disc Trust provides a loan to beneficiary (Tax Implications?)

Discretionary Trust provides a loan to a Trust beneficiary (Tax Implications??) Under a discretionary trust deed, as trustees, we are able to make loans to the Trust beneficiary’s. If we were to do this we would produce a formal loan agreement. Our desire would be to make a loan to the beneficiary o...

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