Digita Trust Tax software has the same detailed data recording capabilities as Digita Personal Tax software, backed up by a full range of detailed Trust and Estate tax computations and reports, which are supplemented by state of the art management facilities such as Active View and Tracker.
As an integrated component of the Digita Professional Suite, Trust Tax automatically posts trust income directly to beneficiaries’ tax returns, ensuring accuracy and saving valuable time. Digita Trust Tax also allows you to file tax returns using the Internet and integrates with Digita Online Filing Manager to simplify and manage the process of filing tax returns across the practice.
Supports all trusts/estates
Tax returns can be created for all trusts and estates that need to complete the Trust and Estate tax return, including:
- Estates of deceased persons
- Accumulation and maintenance trusts
- Bare trusts
- Charitable trusts
- Discretionary trusts
- Employment related trusts
- Funded unapproved retirement benefit schemes
- Heritage maintenance trusts
- Interest in possession trusts
- Mixed trusts
- Non-resident or special trusts
- Settlor interested trusts
Forms R185 are automatically created from information entered, and approved facsimile forms can be printed to give to beneficiaries.
Beneficiaries tax returns
Details of income from Trusts and Estates are automatically posted to beneficiaries' personal tax returns saving time and eliminating errors.
Reports & tax computations
A full range of comprehensive reports and tax computations is available, including:
- Calculation of the Tax Pool
- Trust Management Expenses
- Application of the new standard rate band introduced from 6 April 2005
- Support for the new regime for trusts with vulnerable beneficiaries
All supplementary pages required by Trusts and Estates are supported, backed up by fully comprehensive data entry facilities, covering:
- Lloyd's Underwriters
- Foreign income
- Capital gains
For more information visit our Personal Tax Software page.