SolvedSection 26 | Amount of relief
From legislation.gov.uk
(1)The trustees' liability to income tax for the tax year is to be reduced by an amount equal to—
Formula
where—
TQTI is an amount determined in accordance with section 27 (income tax liability of trustees in respect of qualifying trusts income), and
VQTI is an amount determined in accordance with section 28 (extra income tax to which vulnerable person would be liable if qualifying trusts income were income of his).
(2)The tax reduction is given effect at Step 6 of the calculation in section 23 of ITA 2007.