Trust management expenses : ‘properly chargeable to income’: apportionment and tax: recording and evidence: expense separately recorded
The invoice etc. should clearly show that it refers exclusively to income.
Invoice states ‘Accountancy services - reconciling income receipts’.
Invoice states ‘Data inputting - income transactions’.
Bank statement shows a separate charge that the trustees can identify as relating to transfer of income to beneficiaries
An annual statement shows an insurance premium for property occupied by a beneficiary that falls within TSEM8729.
A quarterly or annual statement shows rent paid by the trustees for a property occupied by a beneficiary that falls within TSEM8755.