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14 December 2010
Income received from US trusts; the gain on inherited house; POAT on gift of property; VAT on DVDs sold by charity’s trading subsidiary
US grantor trusts
I have a client who is a US citizen and has been living in the UK for more than two years. He is a non-UK domicile with a US grantor trust and also US non-grantor trust. Sometimes he is in receipt of income from both trusts but there have been years that he has not been.
My questions are as follows.
- How is the US grantor trust treated as a UK resident but filing on a remittance basis?
- How is the US non-grantor trust treated as a UK resident but filing on a remittance basis?
- How is the US grantor trust treated as a UK resident if filing on an arising basis?
- How is the US non-grantor trust treated as a UK resident if filing on an arising basis?
- If...
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