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HMRC internal manual

Trusts, Settlements and Estates Manual

From
HM Revenue & Customs
Updated
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Tax Cases: Reid's Trustees v CIR 14 TC 512

Summary

Trustees of an estate received untaxed war loan interest.

Decision

They were assessable on the interest as the persons receiving or entitled to the income. It did not matter that they might treat it as capital, or might pay it to beneficiaries as income.

TSEM references

TSEM3011