Annual Return for Trusts

Ensuring that your submission is completed on time is crucial to remain compliant with the Income Tax Act and avoid potential penalties or interest charges for late submissions.

To help facilitate the process, please ensure you have all the necessary documentation ready for submission. Below is a list of key documents and information you will need:

• Deed or Will

• Income sources and distribution of income. Proof of any tax Credits.

• Annual Financial Statements/Annual Administration Accounts.

• Beneficial Ownership document per entity listed and minutes and resolutions of trustees

• Letters of Authority

• Controlled Foreign Company (IT10)

• Mining Schedule A and B (if applicable)

The timely submission of the Annual Income Return is an important step in maintaining the trust’s tax compliance. Speak to your Tax Consultant to confirm yearly deadline dates.

For 2025 the deadline is currently 20 January 2025.