TSEM10230 - Non-resident trusts: trustees� chargeability: Income Tax - Accrued Income Scheme
Guidance on trusts and the Accrued Income Scheme is at TSEM3300+.
If a trust is non-resident throughout a tax year, the trustees are not chargeable to Income Tax on accrued income profits for that year.
»Ê¹ÚÌåÓýapp amount of such profits may be treated as income of the settlor (ITA07/S667(2) and(3)) in accordance with ITTOIA 2005, Chapter 5, Part 5 (TSEM4000+).
If the trust is a non-resident trust for only part of a tax year, see TSEM3340