Assume that a discretionary trust has the same income and expenses in 2020-21 as the trust described

Question:

Assume that a discretionary trust has the same income and expenses in 2020-21 as the trust described in the above example. Assume also that a payment of £5,500 was made to a beneficiary during the year.

(a) Compute the trustees' income tax liability for 2020-21.

(b) Show how the £5,500 received by the beneficiary will be treated in his or her personal tax computation.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: