The course is designed for accountants with a good working knowledge of the tax system but weaker knowledge of the practical taxation of trusts.
The course will concentrate on small trusts met in general practice, and will draw its contents from:
- Definition of a trust
- Types of trust
- Overview of the taxation of trusts
- Taxation of trust income
- Taxation of capital gains
- Completion of basic trust tax returns
- Payments to beneficiaries
- Role of the trustees
- Calculation of trust tax liabilities
- The course does not cover Employee Benefit trusts.
Tax of trusts