Just doing a Trust Return. It is a Will Trust. Can I just clarify that a Will Trust is not a Bare Trust. (Having brain fade sorry!)
There is CGT on the disposal of two assets from the trust (bonds) and I just need to be certain that this goes into the Trust return and not the individuals return.
Bonds are (were) held in the name of the trust, Disposal was October 2019.
There was also a Property (House) sold on 1st May 2020 but this will be on 2021 return which will then bring the trust to an end.
Solicitor specifically pointed out to me that it was a will trust and that the beneficiaries were not the deceased's children. They have now attained 21 year old which is why the trust is being closed (if thats the right word).
Also, solicitor believes that the properties will fall into the relevant property regime, however I think this may not be the case: all assets are under the £325k allowance and the deceased died in 2007. Am I correct here?
Any help would be appreciated - I have only done a small handful of Trust Returns in my career and I guess I'm just a little nervous of a PII claim.