Trust tax rates 2024/25


I noticed in next year's tax rates that the £1,000 starting rate for trusts is being abolished in favour of a £500 de minimis level. When income is less than £500 no tax is due, then everything over will be trust rates on everything.

Does anyone have a link of a more detailed statement about this, as I only saw it in the updated HMRC rates and allowances tables following the budget. I'm left wondering if I missed a wider raft of changes to trust taxation or if this was a simple one-off.

Benjamin Fabi 


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