Revenue updated the manual on special trusts for permanently incapacitated individuals.

The tax and duty manual – Special trusts for permanently incapacitated individuals – has been updated to:

• provide clarification on the interaction of the exemptions provided for under section 189 and section 189A TCA 1997,
• provide further guidance on the meaning of “incapacitated individual”,
• improve clarity on the exemption of tax on income and gains for trustees and individuals, including DWT, DIRT etc.,
• include a “worked example” demonstrating how section 189A TCA 1997 operates in practice.