Oral trust tax charge: trustee-held income for a beneficiary is taxed at the maximum marginal rate. Where a trustee receives or is entitled to receive any income on behalf of or for the benefit of any person under an oral trust, tax shall be charged on ... Summary
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Oral trust tax charge: trustee-held income for a beneficiary is taxed at the maximum marginal rate.
Where a trustee receives or is entitled to receive any income on behalf of or for the benefit of any person under an oral trust, tax shall be charged on such income at the maximum marginal rate; "oral trust" has the statutory meaning ascribed in the related explanation.
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