New Forest

17/07/2018

Trust Taxation

We are still awaiting the promised consultation on the taxation of trusts announced in the Autumn 2017 Budget. However, in the meantime HMRC have updated their guidance on how different types of trust income are taxed, what management expenses and reliefs can be deducted, and understanding the tax pool.

To find out more and view the updated guidance, please visit the HMRC website.

For further information on Trusts and Personal Tax Planning, please contact Stacey Steele on 023 8046 1234.

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For children born from September 2020 the Government provided vouchers for a tax free account, which can be accessed once they reach the age of 18! More information is available here http://ow.ly/BkbV50BjQqt

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