Pradip Dattani
Joined: 3/26/2024
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Allowable expenses for a discretionary trust
We formed a discretionary trust which holds our rental property. Trust beneficiaries are the grandchildren. Trust was formed with the help of a firm of solicitors. Can the cost of setting up the trust be considered as an allowable expense for the Trust when filling in the self assessment? Please can someone help clarify this? Thank you in advance.