Basic Trust Self Assessment

HousingA

Hello, 
I have a basic Trust and receiving income from it. The trust generates an income from renting out properties. I also employed and also earning a monthly salary
On the GOV.UK site it says i would have to fill in a standard self assessment and i do not need to fill in the supplementary trust form (SA107) 
But do i need to fill in form SA105 with my self assessment ?
I am a trustee and a beneficiary 
 

xylophone

I have a basic Trust 

What kind of Trust? Has it been registered with HMRC? Have you been told as Trustee (are you the sole Trustee?)  to complete an annual return for the Trust?

Keep_pedalling

xylophone said:

I have a basic Trust 

What kind of Trust? Has it been registered with HMRC? Have you been told as Trustee (are you the sole Trustee?)  to complete an annual return for the Trust?

Yup, no such thing as a basic trust, so it is crucial to determine the type of trust and as a trustee you should know this. 

HousingA

xylophone said:

I have a basic Trust 

What kind of Trust? Has it been registered with HMRC? Have you been told as Trustee (are you the sole Trustee?)  to complete an annual return for the Trust?

Its also known as a bare trust, and yes it is registered with HMRC

Keep_pedalling

HousingA said:

xylophone said:

I have a basic Trust 

What kind of Trust? Has it been registered with HMRC? Have you been told as Trustee (are you the sole Trustee?)  to complete an annual return for the Trust?

Its also known as a bare trust, and yes it is registered with HMRC

Bare trusts and Income Tax 

The assets of a bare trust are treated for tax purposes as if the beneficiary holds the trust property in their own name and the beneficiary is liable to Income Tax on income received.

The beneficiaries of a bare trust need to account for any Income Tax or Capital Gains Tax on their Self Assessment tax return. They do this on the sections of the form SA100 that deal with income, not the SA107 Trusts etc supplementary pages.

Keep_pedalling

The big question though is why an adult has property held in a bare trust?