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HMRC internal manual

Trusts, Settlements and Estates Manual

From
HM Revenue & Customs
Updated
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Trust management expenses: ‘properly chargeable to income’ in general trust law: apportionment and tax

For tax purposes, the onus is on the trustees

  1. to show that expenses were incurred exclusively for the benefit of the income beneficiary, and
  2. to identify the relevant expenses, considering apportionment if necessary.