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taxadvisor.uk, Chartered Certified Accountant
Category: Tax
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if i make a asset protection trust what percentage tax i have

Resolved Question:

if i make a asset protection trust what percentage tax i have to pay on property rental income ( property whitch is in the trust ) and do i have to declare this income on a Self Assessment tax return or a Trust & Estate tax return form
Submitted: 2 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 2 years ago.
Hello and welcome to the site. Thank you for your question.

Income received by the trust is taxedat different rates depending on total income in the tax year. You are referring to rental income received by the trust.

Trust income up to £1,000 is taxed at 20%
Trust income over £1,000 is taxed at 45%.

You have to declare this income on a Trust and Estate Tax Return.

More information on how trust income is taxed can be found here
https://www.gov.uk/trusts-taxes/trusts-and-income-tax

I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.

taxadvisor.uk and 2 other Tax Specialists are ready to help you
Expert:  taxadvisor.uk replied 2 years ago.
Raja, more information on different types of trusts and how each is taxed is covered here
https://www.gov.uk/trusts-taxes/types-of-trust


I hope this is helpful.
Expert:  taxadvisor.uk replied 2 years ago.

Hello Raja

I notice you have viewed my latest answer to your question about taxation of trust income (JACUSTOMER-735iw24f- Last Viewed on 21/01/2015 at 16:34).

Just checking to see if you have any issues relating to your question that I may not have addressed. Please let me know if I can be of further assistance.

If you are happy and there are no more issues I will appreciate if you would kindly rate/accept the service I provided to ensure I get credited for it.

Expert:  taxadvisor.uk replied 2 years ago.
I thank you for accepting my answer.

Best wishes.

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