Bare Trust
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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!
Thank you!
0
Comments
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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!0
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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!0
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