We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Discretionary trust tax pool
5erge
Posts: 108 Forumite
After submitting dividend income we have a figure of £2600 in the tax pool for next year.
How can I accurately calculate what our beneficiaries (our children) can claim back tax free without incurring additional tax. We should in theory be able to claim back most or all of the tax paid from the last return.
Cheers
How can I accurately calculate what our beneficiaries (our children) can claim back tax free without incurring additional tax. We should in theory be able to claim back most or all of the tax paid from the last return.
Cheers
£56/279
0
Comments
-
Have you read this?
https://www.gov.uk/guidance/trusts-and-income-tax
You speak of "our beneficiaries" being "your children".
Have you created a parental settlement for your minor children?
If so, be careful of tax.
https://www.professionaladviser.com/retirement-planner/feature/2300647/how-not-to-fall-foul-of-parental-settlement-rules0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards