The trust had income tax to pay for 2015/16 which was paid on time in January 2017. It has no tax to pay for 2016/17 (the trust income is rents and in 2016/17 the expenditure exceeded the gross rents). HMRC and ATT’s guidance both say that a taxable relevant trust is one that paid [income tax] “in" a tax year. The regs (http://www.legislation.gov.uk/uksi/2017/692/regulation/45/made) say the same:
“a taxable relevant trust is a relevant trust in any year in which its trustees are liable to pay [income tax].”
January 2017 is, of course, in the 2016/17 year of assessment and therefore to this simpleton there is a requirement to register by 5 March. Agreements and disagreements are gratefully sought.
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I don't think "liable to pay" means the same as "absolutely certain to pay". If you say an area of land is liable to flood, it doesn't mean it will flood this year or next or even the following year.