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Trust Income & Adjusted Net Income for Personal Allowance

dscott23
Posted Fri, 16 Aug 2024 11:39:12 GMT by dscott23
Does income from a discretionary trust being received by a beneficiary (net of the 45% tax credit) count towards their adjusted net income for Personal Allowance purposes? I.e. £100k gross salary plus £15,000 trust income being received, would this impact their Personal Allowance?
HMRC Admin 20 Response
Posted Thu, 29 Aug 2024 15:14:35 GMT by HMRC Admin 20 Response
Hi, 
Yes, trust income would affect the recipients Adjusted Net Income Personal Allowances: adjusted net income
Thank you.

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