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Do I need to submit an SA900 Trust Income Tax Return.

Practical Issues
Parky
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Do I need to submit an SA900 Trust Income Tax Return.

#231991

Postby Parky » June 25th, 2019, 3:44 pm

I read somewhere that for a Trust with less than £50 income tax(and no capital gains tax) payable, no tax return is required. Unfortunately I can't find the information again. Does anyone know if this is correct?

PinkDalek
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Re: Do I need to submit an SA900 Trust Income Tax Return.

#231996

Postby PinkDalek » June 25th, 2019, 4:23 pm

That would be great if it is true. Last year, on one, we sent a cheque for the grand total of £1.80 on interest income. I know nothing of the de minimis you mention. Can you recall where you may have read about it - such as at STEP or HMRC?

Presumably you’ve already received a Notice to file or Tax Return for completion.

Parky
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Re: Do I need to submit an SA900 Trust Income Tax Return.

#232032

Postby Parky » June 25th, 2019, 7:21 pm

PinkDalek wrote:That would be great if it is true. Last year, on one, we sent a cheque for the grand total of £1.80 on interest income. I know nothing of the de minimis you mention. Can you recall where you may have read about it - such as at STEP or HMRC?

Presumably you’ve already received a Notice to file or Tax Return for completion.



Unfortunately I can't remember (hence the question). All the HMRC documents I have seen say you don't need to submit a self-assessment if you have NO taxable income (or chargeable capital gains). Maybe it was just wishful thinking on my part for what surely would be a sensible measure to reduce HMRC costs. I have received a Tax Return for completion, but the tax was rather more for the previous year.

PinkDalek
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Re: Do I need to submit an SA900 Trust Income Tax Return.

#232061

Postby PinkDalek » June 25th, 2019, 11:00 pm

I was hinting towards wishful thinking but was also wishing (just in case). ;)


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