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Discretionary Trusts

Discretionary Trusts

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Good Afternoon I have a number of clients who have set up Discretionary Trusts and the beneficiaries have taken loans out of the trust with the full agreement of the trustees. These loans therefore form an asset in the trust. If the trust agrees to write off these loans are the beneficiaries taxed on the loan write off at their marginal rate in the year of write off.

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