CGT on Trust

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    CGT on Trust

    Does anyone know the CGT treatment for disposing of a property held in a bare trust ? What is the rate of CGT ?

    #2
    Who is the property being "disposed" to?
    When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
    Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

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      #3
      The trust cgt rate is 28%.

      You should download HS294 from HMRC website and read about vulnerably beneficiary under bare trusts if it applies.

      Comment


        #4
        Originally posted by jpkeates View Post
        Who is the property being "disposed" to?
        To a third party not the beneficiary.

        Comment


          #5
          Originally posted by Gordon999 View Post
          The trust cgt rate is 28%.

          You should download HS294 from HMRC website and read about vulnerably beneficiary under bare trusts if it applies.
          Is this for Bare trusts. I think this is for Discretionary trusts.

          Comment


            #6
            If you read thro HS294 again , you should find a paragraph on bare trusts.

            Comment


              #7
              The way I am reading it is you are takes on the beneficiary as if the trust was not there . Just like income tax CGT is no different rule. I am getting advised by a tax accountant that there is no CGT on bare trusts.

              Comment


                #8
                You should take the HS294 help sheet to your tax accountant or local tax office and discuss how the help sheet contents affect you. I am sure the tax man will their % of the capital gain.

                Comment


                  #9
                  Unless you're disposing to the beneficiary, the beneficiary is taxed on any gain as far as I know.
                  When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
                  Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

                  Comment

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