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Discretionary trust income from abroad
danceclothears
Posts: 1 Newbie
in Cutting tax
My wife is lucky enough to be the (probable!) beneficiary from a discretionary trust in Guernsey (set up that way because the deceased lived on Sark rather than for nefarious tax avoidance reasons). I'm finding it very hard to work out how the money will be taxed when it is transferred to her - is it likely to count as income, or a capital gain, or something completely different?
0
Comments
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She will be the beneficiary of income from an offshore trust?
http://www.hmrc.gov.uk/worksheets/sa904-notes.pdf
http://www.hmrc.gov.uk/offshoredisclosure/guernsey-faqs.pdf0 -
It will almost certainly be counted as income, from which tax will be paid in the same way as other earned income.0
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