I am acting for an estate of a deceased person where the income is low. I understand that there is an exemption if the income is less than £500. Can you confirm this and advise whether a claim needs to be made, and whether the exemption also applies for the estate beneficiaries? On a more general point, can you clarify how this applies to trusts and trust beneficiaries?

Under section 24B Income Tax Act 2007 (ITA 2007) if the total estate income or trust income is no more than the de-minimis amount for a tax year then the executors and trustees are not chargeable to income tax for that tax year.

No claim is required as this is a statutory exemption.

Estates