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20 September 2010
Trust and estates in-year cessation cases
HMRC have prepared a draft form SA905 (trust and estate capital gains supplementary pages) for taxpayers who wish to submit capital gains pages as part of an in-year cessation return for 2010/11.
It is available only on request and should be submitted with the main trust and estate tax return (SA900). The form includes new boxes to take account of the changes, as follows.
- box 5.11: for all taxable gains accruing between 6 April and 22 June 2010;
- box 5.11A: for taxable gains accruing on or after 23 June 2010 which qualify for entrepreneurs’ relief;
- box 5.11B: for all other taxable gains accruing on or after 23 June 2010; and
- boxes below box 5.22: for amounts of qualifying gains before and on or after 23 June 2010 on which entrepreneurs’ relief is claimed.
Given that the SA905 notes on trust and estate capital gains for 2010/11 will not be available until April 2011, HMRC advise that most references to the notes pages on the draft form for 2010/11 will relate to the previous year’s SA905 notes.
A copy of the draft SA905 for 2010/11 can be obtained by calling the trusts helpline: 0845 604 6455.
