The SA107 is the Trusts etc supplementary page to the SA100 tax return. It reports income received from a trust or settlement, and income from the estate of someone who has died, together with the tax the trustees or personal representatives have already paid on it.
Who completes it
A beneficiary who received income from a UK trust or settlement, a settlor taxed on the income of a trust they set up, or someone who received income from a deceased person’s estate while it was being administered. The trustees or personal representatives give the beneficiary a form R185 showing the income and the tax paid, and the SA107 is completed from it.
What it asks for
- Discretionary income from a trust, paid net of the trust rate of tax, and payments from settlor-interested trusts.
- Income from an interest in possession trust, split into non-savings, savings and dividend income with the tax paid on each.
- Income from the estate of a deceased person, again split by type and with the tax paid, including income taxed at the non-repayable basic rate.
- Income chargeable on a settlor and the tax deducted from it.
The amounts are entered net, as the R185 shows them. They are grossed up at the rate the trustees paid and the tax is credited against the beneficiary’s bill. Two of the credits are non-repayable: they can cover the tax on that income but never produce a refund.
In Tax Optimiser
Add the Trusts and estates (SA107) section and enter each box net, exactly as the R185 shows it. The calculation grosses each box up at the right rate, credits the tax automatically and applies the non-repayable limit to payments from settlor-interested trusts and estate income taxed at the non-repayable basic rate.
Read more: the Self Assessment supplementary pages.
