Taxation of UK trusts: overview
An overview of the taxation of UK resident trusts set up by UK individuals. The note outlines how inheritance tax, capital gains tax and income tax apply to trusts, including special rules for trusts from which the settlor may benefit and trusts for vulnerable beneficiaries. It deals briefly with stamp taxes. There are links to more detailed information, including information about specific taxes.
We are reviewing this note in the light of draft Finance Bill 2014 clauses published on 10 December 2013 relating to the taxation of vulnerable beneficiary trusts. To follow this measure, see Private client tax legislation tracker 2013-14: Taxation of vulnerable beneficiary trusts.