You may need to fill in the SA905 Trust and Estate Capital Gains form if at any time during the tax year the trust or estate disposed of chargeable assets and:
- The trust or estate disposed of chargeable assets worth more than the amount specified in the SA905 notes the relevant tax year, or
- Losses are deducted and the chargeable gains made by the trust or estate before losses total more than the annual exempt amount (see below), or
- No losses are deducted from the chargeable gains made by the trust or estate and the taxable gains total more than the annual exempt amount (see below), or
- You want to claim an allowable loss, or make any other capital gains claim or election for the year.
Trust and Estate Capital Gains form SA905 can be activated within the software if you have ticked the 'Yes' box in Q5 of Step 2 of the SA900 Trust and Estate Tax Return.
HMRC guidance notes on SA905 provide further information in assisting you with the completion of foreign income form.
