OctoberSky Blue
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Discretionary Trust SA900/SA903
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 -
Discretionary Trust Tax Returns
Hello all, My first time filling a tax return for a small discretionary trust and as I understand it, I need to submit forms SA900 and SA903. My questions are: A, Do I have to order these forms from HMRC, or can I just print them off? Do they have to be printed in colour or is b&w accepted? B, Is there a HMRC helpline for trusts? C, At what point in time do I submit R40 to reclaim the tax? Thankyou -
Rental income below £2.5k
Hello all, My siblings and I jointly receive rental income from a property. Her portion is just over £2k net. According to the gov.uk/check-if-you-need-tax-return site, she does not need to send a tax return. However, earlier on the phone I tried to confirm this with a HMRC rep, but she seemed at best unsure. I noted that the same results page goes on to state that ------ you must tell hmrc about untaxed income between £1k - £2.5k from renting out a property, but do not need a return. If anyone has experience of this, can you please advise. And will she need written confirmation from HMRC. Many thanks