TSEM3022 - Trust income and gains: the charge on trustees: the tax pool - credit to beneficiaries

When a discretionary income payment is made to a beneficiary of a non-settlor - interested trust, it carries a credit at the trust rate, 40% in 2009-2010 and 50% in 2010-2011 see TSEM3756. Such credits reduce the amount available in the ‘tax pool’ - see TSEM3020.