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  2. Taxation of trusts (United Kingdom) - Wikipedia

    en.wikipedia.org/wiki/Taxation_of_trusts_(United...

    Tax as normal on creation (new ones can only be created by will, therefore taxed as part of the settlor's death estate). Trust becomes a relevant property trust (see below) upon the beneficiary attaining 18 (therefore a maximum exit charge of 7/10ths of 6% = 4.2% where the beneficiary becomes entitled at 25). Immediate post-death interest

  3. Tax returns in the United Kingdom - Wikipedia

    en.wikipedia.org/wiki/Tax_returns_in_the_United...

    A Self Assessment (SA100) tax return. In the United Kingdom, a tax return is a document that must be filed with HM Revenue & Customs declaring liability for taxation. Different bodies must file different returns with respect to various forms of taxation. The main returns currently in use are: SA100 for individuals paying income tax; SA800 for ...

  4. HM Revenue and Customs - Wikipedia

    en.wikipedia.org/wiki/HM_Revenue_and_Customs

    His Majesty's Revenue and Customs (commonly HM Revenue and Customs, or HMRC) [4] [5] is a non-ministerial department of the UK Government responsible for the collection of taxes, the payment of some forms of state support, the administration of other regulatory regimes including the national minimum wage and the issuance of national insurance numbers.

  5. 5 Taxes You Might Owe If You Have a Trust - AOL

    www.aol.com/5-taxes-might-owe-trust-145448249.html

    Dealing with trusts and their tax implications can seem like a labyrinth of legal terms and financial jargon. Trust distributions might be taxable, with the tax liability potentially varying based ...

  6. Will Terminating an Irrevocable Trust Affect My Taxes? - AOL

    www.aol.com/terminating-irrevocable-trust-affect...

    A pen and a calculator sit on top of a 1040 tax form. ... and is responsible for the taxes. A non-grantor trust, on the other hand, gets taxed as a separate entity. As a result, the trust itself ...

  7. Will I Owe Taxes on a QTIP Trust? - AOL

    www.aol.com/owe-taxes-qtip-trust-140004948.html

    Creating a trust as part of an estate plan can help protect assets and ensure your financial legacy is preserved. If you're married, you may consider establishing a QTIP trust, which is short for ...

  8. Making Tax Digital - Wikipedia

    en.wikipedia.org/wiki/Making_Tax_Digital

    Under MTD, taxpayers will send HMRC summaries of their income and expenditure at least four times a year. HMRC says this will enable a more ongoing and accurate projection of tax due, as opposed to the current system of one tax bill at the end of the year. To do this, taxpayers will need to integrate their accounts with software in some way.

  9. Self-invested personal pension - Wikipedia

    en.wikipedia.org/wiki/Self-invested_personal_pension

    The investments can grow tax-free, a lump sum can be taken by the investor tax-free on retirement, and SIPPs attract better inheritance tax treatment if the beneficiary dies before the age of 75. The HMRC rules allow for a greater range of investments to be held than personal pension schemes, notably equities and property.

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