A4.418 Trustees

Trustees of a discretionary or accumulation trust or an interest in possession trust are not entitled to complete certificates in respect of beneficiaries who are ordinarily resident in the UK. Trustees of a bare trust are only entitled to complete certificates in respect of a minor child or an adult who is mentally incapacitated1.

If the beneficiary is not ordinarily resident in the UK and the trustees make the necessary declaration, interest may be paid without deduction of tax.

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