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Contents

Official guidance
Trusts, Settlements and Estates Manual

TSEM8200 · Trust management expenses: accumulation/discretionary trusts

  • TSEM8205 · Introduction
  • TSEM8210 · Basic rate, etc tax
  • TSEM8215 · Relief against the special trust rates
  • TSEM8220 · Legislation: ITA/S484: Trustees’ expenses to be set against trustees’ trust rate income
  • TSEM8225 · ITA/S484: ‘expenses of the trustees’
  • TSEM8230 · Trust deed
  • TSEM8235 · Difference between trust law and ITA/S484
  • TSEM8240 · Trust management expenses: how expenses are taken into account: accumulation/discretionary trusts: ITA/S484: basis of allowance
  • TSEM8245 · Grossing up
  • TSEM8250 · Order of set-off
  • TSEM8255 · Grossing up and order of set-off example
  • TSEM8260 · Relief against the special trust rates: deemed income
  1. Trust management expenses: accumulation/discretionary trusts: contents
  2. Trust management expenses: accumulation/discretionary trusts: introduction

TSEM8205 | Trust management expenses: accumulation/discretionary trusts: introduction

From HM Revenue & Customs · Trusts, Settlements and Estates Manual

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.

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