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Old 22.04.2020, 12:21
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Re: The Brexit referendum thread: potential consequences for GB, EU and the Brits in

Quote:
I know how the UK tax system works - I've never had a trust fund though, admittedly. I didn't eay they aren't liable for taxation. I said they hadn't actively contributed to the system.

Yep. They receive it. Don't earn it.

It is lovely you think I sound authoritative though.
Fund is liable to CGT with lower allowance than an individual. IHT is paid at 40% at the death of the life Tennant. All income received or not is liable to tax in the UK.

They pay the tax, it does not matter where the income came from.
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