Trust Disbursements and Self Assessment...

[prozak]

Can someone tell me how Trust Disbursements are taxed and reported in your self assessment?

edit: did some reading..... never mind.

Edit again: answer not 100% CLEAR.


Trust is offshore.
Disbursement will be a capital disbursement.

What is the tax situation - PAYE & NI ?

Assume it would be treated as if I declared a cash payment on my SA?

i.e. it would be subject to PAYE and NI at whatever level I am at?

So if it is my only income (excluding dividends) then it will be taxed and include a personal allowance and NI threshold?

Thanks

[prozak]

111 views but no replies.

Just so you know.

You would account for this in the foreign income section of your SA and pay whatever tax is due.