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UK Property Trust

Question

I was wondering if anyone here is a trustee of a UK trust (of a property that is rented out). I am, but I am not the beneficiary (who gets the rent) so since living in Belgium I have not registered it on my tax form. The trust was started several years before I came to Belgium and as a trustee, I am technically the landlord. I did not envisage living abroad at the time and have not thought much about it since.

The UK letting agent now wants me to declare myself a non-resident landlord with the HMRC (UK tax authority) as I live abroad, so then I presume if I and/or they tell the Belgian tax authorities, I would be liable to pay Belgian tax according to the ‘revenu cadastral’ of the property, as we own a house here which we live in.

In summary, I will be paying tax on money that someone else gets as income (even though they also pay UK income tax on this). Is this right? If so, is there anything legally I can do about it? Also, will I get fined for not declaring it on previous Belgian tax returns, even though my income from it is 0 euros/year?

Thanks in advance for your advice!

anon

Your (and your letting agents) understanding of a "trustee" is completely and totally wrong. You are not a landlord, you are the trustee of a trust. The trust is the landlord, not you. And, no, you do not declare any income because unless you are a beneficiary of the trust, you aren't getting any income.

Before you get yourself in a real mess, I would suggest that you contact the solicitor who set up the trust for advice.

May 3, 2019 20:06