The following Private Client guidance note provides comprehensive and up to date legal information covering:
The tables below provide a very brief summary of some of the main provisions relating to the income tax, capital gains tax and inheritance tax treatment of settlor interested trusts. For more detail on the rules applying to settlor interested trusts, see Practice Note: Taxation of trusts—settlor interested trusts. The table has been split into three below to show the income tax, capital gains tax and inheritance tax treatment in separate tables. To view a summary of all of the taxes side-by-side (for easy comparison), see the attached excel spreadsheet.
Side-by-side summary of tax treatment of settlor interested trusts.
The provisions which affect offshore trusts have been included in the table for reference only and provide only a high-level summary of the main rules. For detailed guidance on these provisions, see Practice Notes: Offshore trusts—attribution of income to settlors and Offshore trusts—attribution of gains to settlors.
All references in the tables below to spouse are to be read to include civil partner and references to marriage are to be read to include civil partnerships.
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