TSEM3665 - Trust income and gains: relief for overseas tax: trust income deemed not to be the beneficiary's
For tax purposes, income may be deemed to be that of someone other than a beneficiary. Forexample, the anti-avoidance provisions may treat trust income as that of the settlor. »Ê¹ÚÌåÓýapptrustees can claim tax credit relief on the income.
If the trustees do not claim relief, the overseas income chargeable is the net amountafter deduction of overseas tax.