This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Tax payable by disabled persons trust

oldjohn41
Posts:12
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!

Return to “Inheritance Tax, IHT, Trusts & Estates, Capital Taxes”

cron