Grange
15-09-2005, 06:20 PM
A property is held in an A&M trust for the benefit of two persons in their 20s.
One of these persons lives in a part of that property.
1. Does in the income of an A&M trust belong to the individuals or to the trust? So, if say a separate garage is sold, does the trust have the benefit of the two CGT AEs?
2. Does living in a property that is held in trust count for PPR exemption?
One of these persons lives in a part of that property.
1. Does in the income of an A&M trust belong to the individuals or to the trust? So, if say a separate garage is sold, does the trust have the benefit of the two CGT AEs?
2. Does living in a property that is held in trust count for PPR exemption?