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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
, see all updates

Disposals by trustees: expenses: fees of corporate trustees

HMRC publish a scale of charges that will be allowed as a deduction for incidental costs incurred by personal representatives of deceased persons and by corporate trustees. The latest version is SP02/04 and applies to acquisitions and disposals made by corporate trustees on or after 6 April 2004. It replaces SP8/94 which applied to disposals made on or after 6 April 1993. These charges have been agreed with the representative bodies but trustees are not required to use them. They may claim the allowable expenditure actually incurred.