My share of my inheritence was taken as a testamentary trust from my mothers will. I am the trustee and the appointer of the trust.
I would now like to wind up the trust as I have now retired. Is the capital ( mostly cash) from the trust when transferred to the beneficiaries tax free?
My accountant has done annual tax returns and the income has been distrubuted each year and tax paid on that income.If the shares in the trust are transferred as shares what is the tax implications? Thank you for answering these questions.