UK tax news service
HM Revenue and Customs information
Tax pool calculator introduction
The tax pool keeps a record of Income Tax paid by trustees of a discretionary trust (including any unused amounts carried over from earlier tax years). You can use this calculator to work out a discretionary trustís available tax pool or (if entering estimates for the year) to work out its likely value by the end of the year.
When you canít use the calculator
Please note that you canít use the calculator for:
Using the calculator: in-year
Use the calculator in-year to help you:
Using the calculator: end-of-year
Use the calculator at the end of the tax year to help you:
The tax pool calculator is for guidance purposes only and the figures will still need to be entered on the Trust and Estate Tax Return.
If you need more information on tax pools generally, follow the link below.
16 June 2009
Source: HMRC Ė Reproduced under the terms of the Click-Use License.
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