Bare Trust

Dottie
Dottie Registered Posts: 99 Regular contributor ⭐
My client has a bare trust for her two sons. Am I correct in thinking that the information on the consolidated tax certificate is to be included on her Tax Return?

Thank you!

Comments

  • JodieR
    JodieR Registered Posts: 1,002 Beyond epic contributor 🧙‍♂️
    I think that it should be declared on her sons' returns. It's a long time since I've encountered this though so please double-check!
  • Dottie
    Dottie Registered Posts: 99 Regular contributor ⭐
    Have looked in Tolleys and for Bare Trusts created after 09/03/1999 by parents in favour of their children under 18, income is taxed as that of the parent, unless covered by £100 limit. Hope I have read that correctly!
Privacy Policy