SolvedTSEM7010 | Tax Cases: CIR v Hamilton of Dalzell (Lord) 10 TC 406
From HM Revenue & Customs · Trusts, Settlements and Estates Manual
Summary
The taxpayer had a life interest in the trust income after expenses. The trust deed allowed him to receive the full income and pay the expenses himself.
Decision
His income for surtax purposes was the income after expenses.