martin adnams
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CGT and Property held in Bare Trust
I own a property where "the net rents and profits until Sale UPON TRUST" are held for my wife. This trust has been registered with HMRC. The property was inherited from my Father and has now been sold and there is nothing else in the trust. My questions are: 1. Who pays the CGT on the sale? Myself as Trustee or my wife as Beneficiary. 2. With the sale there will be nothing left in the trust. Is the trust just considered closed or do I need to close it explicitly on the HMRC website where the trust is registered 3. Are there any other obligations, actions to take. Many thanks