Chapter 11 Flashcards
1
Q
What are the types of trusts
A
Discretionary, Bare, intrest in possesion, Vulerable trust
2
Q
How is a discretionary trust taxed
A
45%
3
Q
How is an IIP taxed
A
4
Q
How is a bare trust taxed
A
as soon turned 18 they have it - its theres
5
Q
do trusts have dividence allowance
A
no
6
Q
any trust taht has any icneom what is the allownace
A
500 fpr the tax year
7
Q
A
8
Q
bare trusts - who pays the icnome
A
the parents
9
Q
interst in possesion trust taxation
A
dividend - 8.754 20% at otehr income
10
Q
discretionary
A
