TSEM3655 - Trust income and gains: relief for overseas tax: beneficiary entitled to trust income
These instructions apply to taxed overseas trust income that is treated as a beneficiary바카라 사이트™s income as it arises.
The trustees can claim, and receive, tax credit relief on behalf of the beneficiary. The amount is based on the beneficiary바카라 사이트™s marginal rate and residence status. INTM367730+ onwards has instructions about tax credit relief.
If the trustees do not claim relief, the overseas income chargeable is the net amount after deduction of overseas tax.
A paying agent may have allowed provisional tax credit relief on overseas income. If that provisional relief is excessive, the beneficiary accounts for the excessive relief.