Do You Need to Report Trust & Estate Income?

If you manage a trust or estate, you may need to file a Self Assessment tax return to report income, gains, and distributions — and we’ll make it simple.

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You must report Trust & Estate income to HMRC if you:

• Receive income from a trust or estate, including interest, dividends, or rental income
• Make capital disposals from a trust or estate, such as:
  • Selling shares, investments, or property held by the trust
  • Selling business assets like equipment, goodwill, or property
• Make distributions to beneficiaries (taxable in some cases)
• Receive compensation for trust or estate assets, such as insurance payouts or settlements
• Are a trustee or personal representative responsible for reporting income and gains
• Have gains or income exceeding annual allowances for the 2025/26 tax year

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Important Notes

• Even if total income or gains are below allowances, you may still need to report if HMRC requires it.
• Income and gains arising from UK property often have special reporting deadlines.
• Trustees and personal representatives must keep detailed records of all income, distributions, purchases, sales, and improvements.

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When to Report Trust & Estate Income

• Within 60 days for UK residential property disposals (via HMRC’s online service for trusts)
• By 31 January following the tax year for all other trust or estate income and gains (via Self Assessment)

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How to Report

• Use HMRC’s online Self Assessment service for trusts and estates
• Include all income, gains, and allowable deductions
• Keep records of:
  • Purchase and sale prices
  • Expenses and improvements
  • Fees and distributions to beneficiaries