2007-01-25 02:45:08 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United Kingdom
Firstly, Trusts don't make gifts.
Any distribution to you as a beneficiary is taxable at your normal rate of tax.
Capital distributions may be taxable, depending on the type of trust, how and when it was established etc. Normally however the Trustees would account for
any tax laibility.
2007-01-28 09:10:14 · answer #1 · answered by Do not trust low score answerers 7 · 0⤊ 0⤋
There are ways around it if its a one off lump sum. You need to see a solicitor and set up a once in a lifetime tax free gift.
2007-01-25 10:54:33 · answer #2 · answered by sarah c 7 · 0⤊ 0⤋
Below link is the TOP HIT on Yahoo.search (& I bet it would be near top on Google)
Are you REALLY incapable of making ANY attempt to find out for yourself ?
2007-01-25 12:13:02 · answer #3 · answered by Steve B 7 · 0⤊ 0⤋