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Posted Fri, 02 Jun 2023 22:19:13 GMT by G Ray
Nothing came up when I searched for this on these forums, but I can't be the only one confused by Trust Tax return requirements, so perhaps some kind soul could redirect me if this is not the right forum. I spent most of today listening to recorded information on the "helpline", but no-one ever picked up. I gather there was a tech issue. Anyway, my questions.... Last year I registered, as required, a Trust generously set up by my Mum to help towards her Grandson's uni fees. Last Oct was the 1st time the provider of the life assurance based bond issued a Chargeable Event Certificate (CEC). I understand from HS320 that Mum (as a living settlor and the Bondholder) should include the figures from the CEC on HER personal SA return under SA101 ("Gains from life insurance policies...."). I don't think this will incur any more tax as it is unlikely to threaten the HR threshold. (If it does, she will quite properly pay the marginal extra.) Can someone confirm that the CEC arising from the Trust needs including in the Settlor's SA return please? Can someone also tell me if I, as lead Trustee of the Trust, need to do anything specific with the CEC from the Trust POV? There must be some reason I spent hours working out how to register it last year. What am I meant to do with my nice new shiny Trust "URN" having registered it? I have paper form SA900 downloaded at the ready, but t seems a bit intimidating to me and not sure if I need to do that as well as Mum putting the CEC figures on her SA return. Any guidance gratefully received.
Posted Wed, 07 Jun 2023 07:46:32 GMT by HMRC Admin 8
Please contact the Trust helpline on 0300 123 1072.
Thank you.

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