Estate and trust tax return help

You will receive this return if you are the executor of an estate or the administrator of a trust.

Executor information

You will need to complete this return each year, including partial years, that you are administrating the estate. This is from the date of death up to the date that the estate is fully distributed and closed.

You need to declare any income that the estate received during the year.

Sole beneficiaries

If there is only one residuary beneficiary of the estate then the beneficiary can request that any income from the estate will be declared on their personal tax return. An estate return will then no longer be required.

Concession for sole residuary beneficiary

Sole beneficiary and probate exemption form

Property

Any property immediately devolves to the beneficiaries or the trust if a trust is created under the terms of the will. This means that if the property has any income, the income must be declared on the beneficiaries returns or the trust tax return, not on the estate return.

Jersey resident beneficiaries must declare their share of the property income and expenses on their personal tax return.

If the beneficiary is not resident in Jersey and in receipt of property income they must register for tax and declare their share of the income and expenses on a non-resident tax return.

Non-resident landlord scheme

Trusts

If a trust is created then you will need to send a copy of the trust paperwork to Revenue Jersey so that it can be registered for tax.

Bequests in the will

You don't need to include bequests, these are not subject to tax in Jersey.

Completing the estate return

You'll need to complete each section only if it applies to the estate.

When you complete the return you only need to tell us about income the estate is receiving, not the capital.

For example you would declare the interest that a savings account earns, but not the account balance.

Telling the beneficiaries about the trust or estate income

You must complete a certificate of income and tax paid for each beneficiary so they can declare the income on their personal tax return.

The trust or estate income will have been taxed at source, but it must still be declared as it forms part of their total income for the purposes of calculating the tax.

You must also include any capital paid to the beneficiary out of the trust or estate on the certificate.

R60 certificate for income from a trust

Trust information

You will need to complete this return each year to report the income of the trust.

Print a return

If you need another estate and trust tax return you can print it here.

You'll need to personalise it by writing in the name, address, tax identification number (TIN) and the year you are completing it for.

Trust or executorship return

Completing the estate and trust tax return

Section 1: Nature of Trust

Don't complete this section if you are completing the return as an executor or administrator of an estate.

Please mark the relevant box to indicate the nature of the trust.

Interest in possession trust

An interest in possession trust exists where the person having the interest has the immediate entitlement (subject to any prior claims by the trustees for expenses or other outgoings properly payable out of income) to any income produced as it arises.

Discretionary / accumulation trust

An accumulation / discretionary trust exists where the trustee can accumulate income or pay it at their discretion.

Other

State the nature of the trust in the relevant box.

Section 2: Income from which Jersey tax is not deducted

Give full details of all income receivable by the trust or estate for the year of assessment, subject to a deduction in respect of any income tax paid in the place where the income has arisen.

You can declare any income from the deceased's employment which was paid after they died on the return to date of death.

Section 3: Income from which Jersey tax is deducted at source

Enter the amount of income receivable from each source. Include any dividends from Jersey unit trusts and cash dividends.

Distributions from Jersey companies must be entered in section 4.

Section 4: Distributions from Jersey companies

When the trust or estate receives a distribution you should be provided with the information from the company secretary that you need to correctly complete this section.

If you are unsure of the information you should be entering in this section we recommend that you either seek professional advice or speak to our business tax section.

Information provided by the company making the distribution

If the trust or estate receives a distribution from a Jersey company:

If the distribution took the form of a dividend you may be provided with a dividend
voucher which provides details of the amount of the dividend and any Jersey tax
deducted from it; and
You will be provided with the information that analyses the distribution.

Voucher accompanying a distribution

The voucher should show:

the gross amount of the distribution
the tax deducted from the distribution (if any)
the net amount of the distribution

Information that analyses the distribution

The information that analyses the distribution will show the total amount of the distribution the trust or estate received broken down into the following possible categories:

taxable under D3
exempt under Article 78

How to complete section 4

If an amount is shown as taxable under D3, in section 4 you must:

enter the name of the company and its tax reference number
if any tax has been deducted from the distribution, enter the amount of tax deducted in the
‘tax deducted’ column
enter the amount of the distribution received in the ‘gross distribution’ column

If an amount is shown as exempt under Article 78, you do not need to enter anything in this section.

Information about tax credits and tax deducted from distributions

Tax credits available from the company

In the information that analyses the distribution the company may notify you that tax credits are available for offset against the distribution. The types of tax credit available from a company are:

carried through tax credits
notional tax credits

Tax credits – deemed distribution and full attribution rules

The trust may also be entitled to a tax credit, if during the trusts existence, tax was paid on the company’s profits which are now being distributed under the deemed distribution and full attribution rules. These rules broadly applied from 3 June 2008 to 31 December 2011.

If you determine that a tax credit is available you should provide calculations in support of the tax credit being claimed. You must keep the appropriate records in order to claim these tax credits.

Any tax credits available from the company should be added to the tax credit available for tax paid under the deemed distribution and full attribution rules. The total should then be included in the ‘credit for tax not paid by deduction’ column of section 4.

Tax deducted

As noted above, when providing the information that analyses the distribution the company should also provide confirmation of any tax deducted from the distributions made. Any tax deducted should be included in the ‘tax deducted’ column of section 4.

Dividends from Jersey companies (more than 2% shareholding)

Enter the total gross cash dividends (D3) received. Gross means before the deduction of any tax. It is important to enter the Jersey tax deducted as shown on the dividend warrants so that any tax relief can be calculated.

Dividends from non-Jersey companies

For the avoidance of doubt, dividends paid by companies based in the UK, Guernsey or elsewhere should not be included in section 4. These dividends should be entered in section 2.2 of the return.

Section 5: Names and addresses of each beneficiary

This section must be completed each year for a trustee of interest in possession trust or for an estate.

You need to state the full name and address of each beneficiary then state the fractional share, interest or other basis of division of the income to which the beneficiary is deemed to have an interest.

You can enter the shares as a fraction, percentage or the amount in pounds sterling.

Section 6: Termination of trust or administration of estate

Complete this section if the trust or estate was wound up during the year.

Section 7: Other information

If there is any other information which is relevant to the return, please enter it here.

Declaration

Sign and enter the capacity in which you have signed the return.

If you have enclosed extra pages, state how many extra pages in the box provided.