The Trustees of a UK resident A&M trust buy for £1000 an electric bicycle which is loaned to the mother[not herself in the class of beneficiaries] to enable her to take an infant beneficiary to school. Is there a taxable benefit to the child? Nothing in the SA 600 refers to use of chattels.
12th Sep 2020
UK resident A&M trust, use of chattels
A&M trust buys electric bike for parent to take infant beneficiary to school. Any taxable benefit?
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