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Readers’ forum: Trust disposal

21 September 2021
Issue: 4809 / Categories: Forum & Feedback
Reporting a property disposal made by a trust.

I act for a trustee who owns a property which is occupied by a beneficiary under the terms of the trust. I am comfortable that all of the conditions for only or main residence relief are met. However I have not encountered this situation in practice before and I am not sure of the disclosure process.

In the normal course of events when a disposal by an individual qualifies for relief in full there is nothing to enter on the individual’s return but I am aware that when the disposal is by trustees they need to make claim for only or main residence relief. How do readers deal with this in practice?

If I prepare an only or main residence election which is signed by the trustees and the relevant beneficiary and then submit this to HMRC will that meet the trustees’ legal obligations? Or do...

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