Threads / Tax Administration Framework Review / Income Tax: Low income trusts and estates
Consultation Outcome Published 15 Mar 2023 HM Revenue & Customs ↗ View on GOV.UK

Income Tax: Low income trusts and estates

We welcome views on legislative proposals to remove trusts and death estates with small amounts of income from Income Tax.

Opened 15 Apr 2022
Closed 18 Jul 2022
▤ Verbatim text from source document

This consultation seeks views on proposals to formalise and extend a 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.

It will be of interest to trustees and personal representatives of low-income trusts and estates. Responses will inform the design of the necessary legislation.