Settlor’s interest; Overseas gains; Gifts to Ireland; Textile trouble
Send us your queries and responses We pay £40 for each full reply published in print. Contributions may be identified by name or pseudonym. |
Settlor’s interest
Is a trust settlor interested and how should income be declared and taxed?
A director/shareholder of a trading company has transferred his shares into a discretionary trust that was set up for the benefit of his three minor children. A dividend has been paid into the trust but no distributions have been made out of it.
Our dilemma is how we should deal with the tax reporting requirement. It appears that the trust is “settlor interested” by virtue of the...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.