Skip to main content

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

Posted Mon, 07 Oct 2024 16:34:28 GMT by OctoberSky Blue
A discretionary trust that part owns a property must submit tax return forms SA900 and SA903. Is this correct?
Are any other forms required?
If said paper forms are submitted before the 31 October deadline, will HMRC work out the trust's tax for me?
And when can I expect to be informed of the amount? Thankyou
Posted Wed, 16 Oct 2024 15:37:56 GMT by HMRC Admin 13 Response
Hi 
SA900 is the main tax return and SA903 covers income from property.  
The guidance on SA900 advises "You can choose to calculate the trust or estate's tax.  
But if you do not want to, and providing we receive the return by 31 October 2024, we’ll work out the tax for you and let you know if there is tax to pay by 31 January 2025.  
From a self-assessment perspective, there are no other forms the trust will have to submit.  
The trust will have to give every beneficiary the appropriate R185, so they can declare it in their own self-assessment tax return.
Thank you

You must be signed in to post in this forum.