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Self Assessment for the Elderly: How Trusts will be affected Part 2

The new trust and estate tax return

1 January 1997

The new trust and estate tax return

In the fast moving world of tax for the elderly, it is fortunate that I chose to end my previous article without considering the draft of the new trust and estate tax return. This is because in the meantime it has changed slightly, as have the documents which accompany it.

Limited form-filling: capital gains only

After a page of instructions, and the "clearance boxes" described in the first part of this article, the new return allows a further facility for limited completion. Where trustees would have come within the category of taxpayer who may merely give particulars of the trustees and send in a nil return, but for the fact that they have made chargeable disposals, they may enjoy the limited facility of dealing with questions relating exclusively to capital gains (5 and 6) the separate pages for capital gains and questions 15 (Do you want to calculate the tax?) to 20.

These "gains onl...

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