Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Trust definition

What does Trust mean? A trust is a legal arrangement in which one or more trustees hold and manage property (the trust property) for the benefit of beneficiaries. It is primarily defined by case law rather than a single statute, though key rules appear in legislation (for example, writing requirements and trustee powers). Trusts arise by express declaration (usually by a settlor), by operation of law (resulting or constructive trusts), or under statute, and are used in private client, commercial, pension and charitable contexts. Core features include: the trustee’s fiduciary duties to act loyally, prudently and in accordance with the trust terms; control...

UK trusts: SA900 income tax and CGT returns, TRS registration, and 30/60-day property disposal reporting

Published by a LexisNexis Private Client expert

Practice notes

This Practice Note reviews the obligation on Trustees to file a Trust and Estate Tax Return (form SA900) where a trust is chargeable to income tax and/or Capital gains tax (CGT). For guidance on the rules governing trust income, expenses and capital gains, and the computation of tax liabilities, see the Trusts—income tax and capital gains tax subtopic. For commentary on completing the Trust and Estate Tax Return for estates by personal representatives, see Practice Note: Estate tax returns and informal procedures. All UK express trusts (not solely those with a UK tax liability in a given tax year) must be registered with the Trust Registration Service (TRS) unless an exemption applies. See Online registration and beneficial ownership information reporting requirements for trustees below for further guidance.

Requirement to submit a tax return

The income and gains of trusts fall within the Self Assessment regime. Where HMRC have issued a return, or served a notice to file, trustees are required to complete a Trust and Estate Tax Return (form SA900). Agents authorised to act for the trustees should be able to check online whether a return has been issued (and the date of issue, where relevant)...

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Paul Davies

Clarke Willmott

Paul Davies is a partner in the private client team of Clarke Willmott. He is a solicitor, a chartered tax advisor, and a member of the Society of Trust and Estate Practitioners, as well as being a chartered accountant (albeit no longer practising as such). He specialises in providing advice across the range of different tax and legal issues that face high net worth individuals, executors, and trustees.Paul's work spans all areas of private client work, including wills, trusts of all kind, inheritance tax, succession planning, probate and estate administration, and lasting powers of attorney. Paul acts as a professional trustee for a number of family trusts, and is also regularly called on to act as a professional executor....

Web page updated on 22/05/2026

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