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Where Taxpayers and Advisers Meet

use of income in a discretionary trust

strawn
Posts:96
Joined:Fri Jun 01, 2012 10:11 am
use of income in a discretionary trust

Postby strawn » Thu Feb 03, 2022 12:20 am

A trust has finished its accumulation period. Am I right to assume that it is legitimate to use some of its income for (i) fees for professional advice, (ii) payment of interest on debt, and (iii) repayment of principal of debt?

Do any of these uses lead to a reduction in the trust's tax bill on the income?

Return to “Inheritance Tax, IHT, Trusts & Estates, Capital Taxes”

cron