Self assessment question for trusts
Discussion
A quick question for my self assessment that i should have done ages ago...!
I received money from a trust fund and that trust had a 'chargeable event gain' and a certain amount was already taken for the 20% tax band. I assume this is fairly simple to declare, just unsure which fields on the trusts pages to put it under?
I'll try calling the help line, but thought i'd see if anyone could advise whilst i wait for them to answer the phone.
Thanks
I received money from a trust fund and that trust had a 'chargeable event gain' and a certain amount was already taken for the 20% tax band. I assume this is fairly simple to declare, just unsure which fields on the trusts pages to put it under?
I'll try calling the help line, but thought i'd see if anyone could advise whilst i wait for them to answer the phone.
Thanks
You seem to suggest that the surrender took place in the trust, in which case it will be one of two outcomes. Is this a discretionary trust? If so and the settlor is alive then it is theirs to report or if the settlor is dead and the end of the tax year in which they died has passed then in is tax for the trustees to pay.
Come back with some more info including the date of the trust and when the investment was first held by the trustees
Spencer
Come back with some more info including the date of the trust and when the investment was first held by the trustees
Spencer
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