Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Fri, 02 Aug 2024 15:39:28 GMT by tw.other
My father passed away and I've inherited (along with my sister) a family trust that contains his house which was set up in New Zealand in 1998. We plan to sell the house and dissolve the trust. I've lived and worked in the UK since 2006. When the funds are distributed will I be liable for tax on the money I receive? I've been told trusts are treated differently from the rest of the estate which wouldn't be taxed. Thanks
Posted Tue, 06 Aug 2024 11:33:30 GMT by HMRC Admin 32 Response
Hi,
Please see guidance below.
Trusts and taxes
Thank you.
Posted Tue, 06 Aug 2024 12:10:19 GMT by tw.other
Hi. I've read a ton of information from that link and I'm still no wiser on my situation. I was hoping for a more detailed response here based on my current situation I detailed above. Thanks
Posted Tue, 06 Aug 2024 13:11:44 GMT by tw.other
Further to the above my father who setup the trust was a NZ citizen who's never lived or worked in the UK. Thanks
 
Hi. I've read a ton of information from that link and I'm still no wiser on my situation. I was hoping for a more detailed response here based on my current situation I detailed above. Thanks

Both rec on 06/08/2024 .
Posted Thu, 08 Aug 2024 16:08:44 GMT by HMRC Admin 25 Response
Hi tw.other,
We can only provide general advice and links to guidance in this forum.
For an answer to a detailed question of this nature, you would need to contact our Self Assesment helpline:
Self Assessment: general enquiries
Or seek professional advice.
Thank you. 
 

You must be signed in to post in this forum.