Personal Injury Trust (Bare Trust)

Discussion in 'PAYE letters 2010' started by johnwarburton, Feb 5, 2013.

  1. johnwarburton

    johnwarburton UKBF Newcomer Free Member

    2 0
    First off hi to all on the forum

    I received a personal injury payments in 2009 and was advised to put it in a persona injury trust (bare trust) which I did. I purchased 2 properties in September 2009 and started to rent 1 out in March 2010. I purchased another property in October 2010 and rented out it December 2010. Then purchased another property in August 2013 and rented out in August 2013. All of the properties are registered in the name of the trust and are cash purchases. It has only been this week when I have tried to re - finance the properties that I have been advised I should of been filling in tax returns. I was not told this by the financial advisor who set the trust up as I just remember him telling me that all capital is disregarded, I then never seen him again as he wanted me to invest in a stocks and shares but I chose not to and he did not like it. I am very worried now as I have not filled in these tax returns and I cannot re - mortgage these properties. Also reading about tax returns I have not kept alot of the receipts. Can anyone advise the next best step as I want to be prepared ?

    Thanks
     
    Posted: Feb 5, 2013 By: johnwarburton Member since: Feb 5, 2013
    #1