INTM166040 | UK residents with foreign income or gains: trusts: Foreign tax

Where foreign tax has been paid on trust income (including, in the case of dividends, any underlying tax where, exceptionally credit for such tax is due under the terms of an agreement - see INTM164410), it is the practice, in the case of a trust of a type referred to in INTM166030, to allow credit relief to beneficiaries, other than annuitants, for that foreign tax. Credit relief is given in the same way and to the same extent as if each beneficiary were entitled to his proportionate share of the underlying investments of the trust.