TSEM3315 - Trust income and gains: trusts outside the Accrued Income Scheme provisions

ICTA88/S715

Trustees are not chargeable under the Accrued Income Scheme or entitled to relief under its provisions if

• the trust is for an individual who is
• mentally disabled or
• receives an attendance allowance by virtue of being entitled to the care component at the highest or middle rate and
• the value of all accrued income securities in the trust for that year and the previous year does not exceed £5,000.

TSEM3320 has information about bare trustees.