Back to Basics Trusts - Income Tax

The objective of this course is to look at the income tax computations necessary for trust compliance of both interest in possession trusts and discretionary trusts.

This course is aimed at members of staff who require a basic understanding of trusts and how income tax applies to trusts.  This course will also be suitable for staff members who deal with the tax compliance of trusts but who have come to rely on computer software to get things right.

The course is not suitable for those new to the profession as participants require a working knowledge of income tax.

Content will include:

• Types of trust for income tax
• The calculation of income tax for an interest in possession trust
• The calculation of income tax for a discretionary trust
• The taxation of distributions to beneficiaries - including tax pools
• Trustee expenses
• Settlor interest trusts
• Trust Registration Service

The above content relates to 2023 only.