Income Tax: Low income trusts and estates
Download the full outcome
Detail of outcome
The government has published a summary of responses to the consultation on low income trusts and estates.
Following the responses, the government has announced legislative proposals to remove trusts and death estates with small amounts of income from Income Tax.
You can read a tax information and impact note on GOV.UK.
Original consultation
Consultation description
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.
Documents
Last updated 15 March 2023 + show all updates
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Published the outcome, including a summary of responses and a link to a tax information and impact note (TIIN).
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First published.