Taxes Management Act 1970 section 8A

Trustee's return

Section 8A sets out the requirements for trustees of a settlement to file tax returns, including what information must be provided, the filing deadlines, and the consequences of failing to comply.

• HMRC can require any relevant trustee of a settlement to file a return containing information needed to establish the income tax and capital gains tax liabilities of the trustees, settlors and beneficiaries
• Standard filing deadlines are 31st October following the tax year for paper returns and 31st January for electronic returns, with extended deadlines where HMRC issues the notice late
• HMRC may require trustees to include additional information in the return specified by regulations, provided it is relevant to the collection and management of taxes, with a £60 penalty for non-compliance
• Every return must include a declaration that it is correct and complete to the best of the person's knowledge, and different information may be required for different income sources, periods or types of settlement