TSEM8783 - Trust management expenses: allowable expenses: specific items: trustees’ fees: the Public Trustee

There is specific statute on the Public Trustee’s fees. The current fees order is the Public Trustee (Fees) Order SI 1999 No. 855. That provides that all fees are payable out of capital except those specified in the Order.

In trusts administered by the Public trustee, only those fees specifically chargeable to income by statute are allowable for tax purposes.