Trusts—income tax and capital gains tax return

Copyright © 2025 LexisNexis
Produced in partnership with Paul Davies of Clarke Willmott
Practice notes

Trusts—income tax and capital gains tax return

Copyright © 2025 LexisNexis

Produced in partnership with Paul Davies of Clarke Willmott

Practice notes
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This Practice Note considers the requirement of Trustees to submit a Trust and Estate Tax Return (form SA900) where a trust is liable for income tax and/or Capital gains tax (CGT). For guidance on the tax rules relating to trust income, expenses and capital gains and the calculation of tax liabilities, see the Trusts—income tax and capital gains tax subtopic.

For commentary on completion of the Trust and Estate Tax Return for estates by personal representatives, see Practice Note: Estate tax returns and informal procedures.

All UK express trusts (not just those with a UK tax liability in a particular tax year) need to be registered with the Trust Registration Service (TRS) unless exempt. See Online registration and beneficial ownership information reporting requirements for trustees below for further guidance.

Requirement to submit a tax return

The income and gains of trusts are assessed under the Self Assessment regime. If HMRC have issued a return or a notice to complete a return then trustees must complete a Trust and Estate Tax Return (form SA900).

Agents

Paul Davies
Paul Davies

Clarke Willmott

Paul Davies is a partner in the private client team of Clarke Willmott. He is a solicitor, a chartered tax advisor, and a member of the Society of Trust and Estate Practitioners, as well as being a chartered accountant (albeit no longer practising as such). He specialises in providing advice across the range of different tax and legal issues that face high net worth individuals, executors, and trustees.

Paul's work spans all areas of private client work, including wills, trusts of all kind, inheritance tax, succession planning, probate and estate administration, and lasting powers of attorney.

Paul acts as a professional trustee for a number of family trusts, and is also regularly called on to act as a professional executor.

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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Trust definition
What does Trust mean?

An equitable obligation (ie a duty imposed by the law of equity), binding the trustee to deal with property over which he has control (the trust property), for the benefit of persons (the beneficiaries), of whom the trustee may be one, and any one of whom may enforce the obligation.

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