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HMRC internal manual

Trusts, Settlements and Estates Manual

HM Revenue & Customs
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Trust management expenses: accumulation/discretionary trusts: introduction

TSEM8210+ explains what trust management expenses are allowable for accumulation/discretionary trusts in the light of tax law and the relevant case law. It also explains the method of taking TMEs into account when computing the income tax liability of accumulation/discretionary trustees.