TSEM8105 - Trust management expenses: ‘properly chargeable to income’ in general trust law: introduction

The main cases on trust management expenses are Carver v Duncan [1985] STC 356 (‘Carver v Duncan’) and H M Revenue & Customs v Trustees of the Peter Clay Discretionary Trust [2009] STC 469 (‘HMRC v Peter Clay’).

Sections TSEM8110 - 8115 give details of Carver v Duncan.

Sections TSEM8120 - 8150 give details of HMRC v Peter Clay.