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Where Taxpayers and Advisers Meet

Tax payable by disabled persons trust

Joined:Mon Dec 01, 2014 10:50 pm
Tax payable by disabled persons trust

Postby oldjohn41 » Sat Oct 07, 2023 9:53 am

I am a trustee for my disabled brother’s Disabled Persons Trust and I am tasked with completing a tax return this month for the first time and I am a bit confused. The trust has a current account (which earns no interest) and all other funds have been put into investment trusts, all of which are growth funds and don’t pay annual interest. Can I assume then that there is no income to declare? Do I need to make a Tax Return then? And as an additional question, at what point would the Trust be considered to have received income? Any advice very gratefully received!

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