CGT on Trust

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  • jpkeates
    replied
    Unless you're disposing to the beneficiary, the beneficiary is taxed on any gain as far as I know.

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  • Gordon999
    replied
    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.

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  • philip cooper
    replied
    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.

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  • Gordon999
    replied
    If you read thro HS294 again , you should find a paragraph on bare trusts.

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  • philip cooper
    replied
    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.

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  • philip cooper
    replied
    Originally posted by jpkeates View Post
    Who is the property being "disposed" to?
    To a third party not the beneficiary.

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  • Gordon999
    replied
    The trust cgt rate is 28%.

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

    Leave a comment:


  • jpkeates
    replied
    Who is the property being "disposed" to?

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  • philip cooper
    started a topic CGT on Trust

    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 ?

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