The following Trusts and Inheritance Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
The terms of a trust may require the payment of an annuity to a beneficiary. Alternatively, discretionary trustees may decide to pay a fixed annual sum to a beneficiary for a pre-determined period. In both cases, the beneficiary has a right to the annuity, and effectively has an interest in possession in a fixed portion of the income.
The tax treatment of annuities arises from three separate provisions in the legislation:
**Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason.
Access this article and thousands of others like it free for 7 days with a trial of TolleyGuidance.
Read full article
Already a subscriber? Login
To view our latest tax guidance content, sign in to Tolley® Guidance or register for a free trial.