Bare Trust
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
-
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
-
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
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 319 NEW! Qualifications 2022
- 157 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 56 AAT Level 3 Diploma in Accounting
- 92 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 272 VAT
- 92 Software
- 274 Tax
- 136 Bookkeeping
- 7.2K General accounting discussion
- 201 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 582 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership