MB74 Breen

Hi, I recently received a chargeable events certificate after cashing in an insurance policy for my children. I was joint trustee and gain was £7,130 with £1,427 in tax treated as paid. I assume that means chargeable gain is then £5,703. As this falls below £10,000 and I am only one of two trustees how should I declare this, I am not sure if need to do a Trust and Estate Tax Return, add to my self assessment form later in year or just send HMRC the certificate and national insurance numbers or do nothing due to low amount? Any guidance most appreciated

Hi, anyone able to help me with this issue? Many thanks

Hi, I recently received a chargeable events certificate after cashing in an insurance policy for my children. I was joint trustee and gain was £7,130 with £1,427 in tax treated as paid. I assume that means chargeable gain is then £5,703. As this falls below £10,000 and I am only one of two trustees how should I declare this, I am not sure if need to do a Trust and Estate Tax Return, add to my self assessment form later in year or just send HMRC the certificate and national insurance numbers or do nothing due to low amount? Any guidance most appreciated

I opened a trust for my children and the gain was around £7,000. They were beneficiaries but the chargeable event certificate was issued to me. As the trust is now closed what do I need to do - just declare the gain (even though I personally didn’t benefit) on my self assessment return or do I also need to do a trust and estate tax return also?

Thanks for replies. Is there anything I can do as I was trustee rather than beneficiary? Ask the investment company for a new chargeable event certificate in names of the two beneficiaries as they won’t be liable for tax on this gain due to level of it?

Hi, I received the chargeable events certificate for this but it is only in my name as trustee not the declared beneficiaries who are not named on it. If I send this does that mean that I will be taxed as doesn’t have their names or do I need the fund provider to resend a certificate for them?