Carver v Duncan (H.M. Inspector of Taxes); Bosanquet v Allen (H.M. Inspector of Taxes).  BTC 248
House of Lords.
Judgments delivered 16 May 1985.
Discretionary trusts – Additional rate tax – Whether trustees’ expenditure on life assurance premiums and fees paid to investment advisers deductible in ascertaining amount of trust income liable to additional rate tax – Whether expenses ‘properly chargeable to income’ – Finance Act 1973, sec. 16(2).