What advisers need to know: Trust and trustees' tax position

What does the Autumn Statement mean for trustees?

clock • 6 min read

In the final technical article of the series, Neil Macleod explores the post-Autumn Statement position of trusts and their trustees in light of tax allowance changes

The announcement in the Autumn Statement that the dividend allowance and annual exempt amount are going to half from April 2023 and then again from April 2024 is not welcome news for those investors directly invested in OEICs or shares. A lot has been said already about the tax implications for individuals but what does this mean for trustees? Dividend Nil Rate Trusts fall into three main categories when it comes to income tax: Bare Discretionary Interest in possession. A bare trust is not technically a settlement because the underlying beneficiary is fully-entitled to...

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