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Posted Wed, 11 Oct 2023 17:00:59 GMT by So1arScope
Hello, I have just made a declaration of trust and submitted form 17. Can I now submit a 2022-2023 tax year self-assessment using the updated income distribution?
Posted Thu, 12 Oct 2023 16:50:34 GMT by
I'm not HMRC but sadly it isn't retrospective and only takes effect from the date the form is signed and only if it is received by hmrc within 60 days of it being signed. https://www.gov.uk/hmrc-internal-manuals/trusts-settlements-and-estates-manual/tsem9860
Posted Fri, 13 Oct 2023 12:04:22 GMT by So1arScope
Thanks for the link! It says: "Only income that arises after the date of the Form 17 declaration is covered", so I should pay a 50:50 split for the 2022-2023 tax year.
Posted Fri, 13 Oct 2023 15:55:09 GMT by
If that was the previous (before form17 split) split then I would say yes.
Posted Tue, 17 Oct 2023 10:46:57 GMT by HMRC Admin 10 Response
Hi
Thank you for your question.
Under the pretence that you have previously registered for Self-Assessment, you would now be able to complete and submit the 2022/2023 Self-Assessment Tax Return either via paper return on 31st October 2023, or 31st January 2024 if you complete the Tax Return online showing the updated income distribution. 

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