Skip Navigation


Trusts & Trustees Advance Access originally published online on March 8, 2009
Trusts & Trustees 2009 15(3):166-170; doi:10.1093/tandt/ttp007
This Article
Right arrow Full Text
Right arrow Full Text (PDF)
Right arrow All Versions of this Article:
15/3/166    most recent
ttp007v1
Right arrow Alert me when this article is cited
Right arrow Alert me if a correction is posted
Services
Right arrow Email this article to a friend
Right arrow Similar articles in this journal
Right arrow Alert me to new issues of the journal
Right arrow Add to My Personal Archive
Right arrow Download to citation manager
Right arrowRequest Permissions
Google Scholar
Right arrow Articles by Gibbon, M.
Right arrow Search for Related Content
Social Bookmarking
Add to CiteULike   Add to Connotea   Add to Del.icio.us  
What's this?

© The Author (2009). Published by Oxford University Press. All rights reserved.

Apportioning trust expenses between income and capital

Commissioners for HM Revenue & Customs v Trustees of the Peter Clay Discretionary Trust [2008] EWCA Civ 1441

Michael Gibbon*

*Michael Gibbon, Maitland Chambers, 7 Stone Buildings, Lincoln's Inn, London WC2A 3SZ, UK. Tel: +44-20-7406-1200; www.maitlandchambers.com

One of the central challenges faced by a trustee is frequently the balance he or she must strike between the interests of income and capital beneficiaries. This case concerned the treatment of certain expenses incurred by a United Kingdom resident discretionary trust, which the trustees had charged to income in the year 2000–01, but HMRC alleged should all have been charged to capital. It goes some way to providing clarification for trustees as to how expenses should be treated, and what evidence the courts will require to justify the treatment adopted.


Add to CiteULike CiteULike   Add to Connotea Connotea   Add to Del.icio.us Del.icio.us    What's this?




Disclaimer: Please note that abstracts for content published before 1996 were created through digital scanning and may therefore not exactly replicate the text of the original print issues. All efforts have been made to ensure accuracy, but the Publisher will not be held responsible for any remaining inaccuracies. If you require any further clarification, please contact our Customer Services Department.