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HMRC internal manual

Trusts, Settlements and Estates Manual

Trust income and gains: the charge on trustees - annuity as charge on trust

An annuity is normally regarded as a charge on the trust income generally. See Trust & Estate return boxes 10.2A - 10.4A.

Sometimes an annuity is legally secured on the income of a particular part of the trust fund. If so, it is a charge on that income only.