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HMRC internal manual

Trusts, Settlements and Estates Manual

Trust income and gains: the charge on trustees: standard rate band - the tax pool

ITA/S498(1) ensures that tax charged under ITA/S491 at the basic rate (but not at the dividend ordinary rate) will be included in the tax pool. So tax charged at these rates on income within the standard rate band goes into the tax pool and can be used to cover the tax credit attaching to discretionary income payments.