TSEM7023 | Tax Cases: Cunard's Trustees v CIR 27 TC 122

Summary

Under the terms of a trust, the trustees were required to make payments out of capital to supplement the income of the beneficiary.

Decision

The payments were income when received by the beneficiary. The payments were a new source of income.

TSEM references

TSEM3756, TSEM3759, TSEM3787