HMRC has published a comprehensive manual explaining how trusts and settlements are assessed for tax purposes, covering both income and capital gains generated by these arrangements. The guidance sets out the tax obligations and regulatory framework that trustees and estate administrators must follow when dealing with trust income and distributions. This resource provides clarity on HMRC’s approach to trust taxation and will assist compliance professionals in understanding their responsibilities when handling trust-related customs and tax matters.
Source: HMRC (GOV.UK) – Read the original