Non-resident trusts: trustees’ chargeability: Income Tax - accumulation and discretionary trusts
If the trustees of a non-resident trust have power to:
- accumulate income or
- pay income at their discretion or
- accumulate income and pay income at their discretion
then the amount of UK source income on which the trustees are chargeable to tax is charged at special rates under ITA/S479.
The trustees are also taxable at the special trust rates on certain receipts that are deemed to be income under ITA/Ss481-482 - see TSEM3201.
See TSEM3041 for trust tax rates