Trusts (Income and Capital) Act 2013 section 3

Power to compensate income beneficiary

Section 3 gives trustees the power to compensate an income beneficiary from the trust's capital when a corporate distribution that would normally have been income has been reclassified as capital under section 2.

Access full legislation.And much more.

By becoming a member, your team gets full access to Tax World research tools and source-backed tax resources.