HMRC launches consultation on removing low income trusts and estates from income tax

Published on: 26 April 2022

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Specialist Tax Regulatory Materials

Article summary

HMRC has launched a consultation seeking views on legislative proposals to extend an existing concession that removes trusts and estates from Income Tax where the only source of income is savings interest and the tax liability is below £100. Trustees and personal representatives with experience of low-income trusts and estates are called to respond. The consultation closes at 11:45pm on 18 July 2022.

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

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