Can anyone recommend a practical textbook for trusts which specifically covers liferent trusts, and also explains how to prepare the Trust Tax Return?
It would also be helpful if it could cover the set-up of the trust, the treatment of administration costs etc, the distribution of trust funds following the death of the settlor and the wind-up of the trust etc.
All the texts I have seen seem to cover mainly Discretionery Trusts and Accumulation & maintenance trusts.
The trust I am interested in will be set-up by the settlor who will have the liferent of the property settled. The trustees will then distribute trust income to various causes specified in the trust deed, following the death of the settlor.
Many thanks
Gavin Mowat
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Tolleys and IR guide as a starter
You may wish to look at 2 tolleys publications as a starting point.
Mathew Hutton "UK Taxation of Trusts" currently in its 13th edition
and
"Tax Advisers Guide to Trusts" by Nigel Eastaway and Ian Richards
The Inland Revenue's "SA Trust and EState Tax Return Guide - A reference guide for IR Staff and Tax Practitioners" free from the orderline is also worth a read.