Type of Trust

This screen is accessed via the Data Input tab within the tax return. The screens vary depending on the type of trust selected.

  • Type of trust - select the type of trust from the drop-down list:

  • Estate

  • Bare trust

  • Interest in possession trust

  • Discretionary trust

  • Charitable trust

  • Unauthorised unit trust

  • Employment related trust

  • Heritage maintenance fund

  • Employer financed Retirement Benefit Scheme

  • Does the special trust rate apply? - tick the box if the trust is liable to Income Tax at the special trust rates ( the trust rate of 45% or the dividend trust rate of 38.1%).

  • Can settlor benefit from interest or capital? - tick the box if any settlor (or living settlor’s spouse or civil partner) benefit from the capital or income.

  • Trustee is participator in underlying non-resident company? - tick the box if the trustee is a participator in an underlying non-resident company (a company that would be a close company if it were resident in the UK).

Details

  • Date of death of deceased - only available when type of trust is Estate

  • Date trust terminated or administration period ceased

  • Reason for termination

  • Is there a trust created from this estate? - only available when type of trust is Estate

Income to return

This section is available when the type of trust is Estate:

  • Trust returns no income or reliefs

  • Why not?’ When ‘Trust returns no income or reliefs - is ticked and the type of trust is ‘Interest in possession trust’, then select a reason from the drop down list

  • No income arose

  • All income mandated to beneficiaries

  • All income is UK income with tax deducted

  • All income mandated or UK taxed income

  • Has some taxed income been omitted from this return?

Trust tax information

  • Number of trusts made by same settlor

  • Standard rate band

Additional text note for Tax return

Enter any additional white space notes that you wish to be included on the tax return.