§ 80. Lieut.-Colonel Bromley-Davenport
asked the Chancellor of the Exchequer whether it is his intention that in the event of trust funds purchasing Premium Bonds any prizes which may accrue can be enjoyed tax-free by the life tenant, or whether it will be necessary for the prize to be treated as capital and revert to the trust.27W
§ Mr. H. Macmillan
I agree that there is a point here to be considered. But it would be premature to express an opinion at the present stage when the terms of the security have yet to be decided. In any particular case the terms of the particular trust in question would, of course, also be relevant.