Trusts — income tax and capital gains tax

IntroductionFinance Act 2013 introduced harmonising amendments to all the qualifying conditions for trusts for disabled persons and other vulnerable beneficiaries. See...

Calculations and claimsLosses arising to trustees are calculated in the same way as they are for individuals. Capital losses are automatically set against any gains of...

IntroductionThis guidance note highlights some features of the taxation of investment income which apply specifically to trusts.InterestFor commentary on what constitutes...

This guidance note covers the requirement to submit a Trust and Estate tax return and provides links to the relevant forms on the HMRC website. It includes commentary on...

‘Hold-over’ relief allows for the deferral of a gain that would otherwise arise in relation to a disposal. No capital gains tax (CGT) is due in respect of the disposal,...

It is common for trustees to receive rental income from properties held as investments.In general, the same tax principles of property businesses apply to persons,...

IntroductionThis guidance note follows on from the Discretionary trusts ― tax pool guidance note, which explains how the tax pool is calculated.The ‘tax pool’ is a record...

IntroductionThis guidance note explains how to calculate the income tax liability on the income of an interest in possession trust. It also covers the general principles...

This guidance note explains how income tax and capital gains tax relief for vulnerable beneficiary trusts is calculated and explains the effects of a claim in different...

IntroductionThis guidance note looks at the expenses incurred by trustees when running a trust.Tax deductible expensesAs for individuals and trading organisations,...