Beneficiaries

Distributions can be made once the beneficiaries have been identified and the value gifts determined within the Estate Accounts. These distributions may be a mixture of capital and income. Where income is paid a Certificate of Tax deducted R185 (Estate Income) will need to be prepared to provide the beneficiary with the details they need for their personal tax position.

Income received by a beneficiary from a trust will be reported on R185(Trust Income) and will also be required for their personal tax reporting purposes.

What can we do to help?

• Prepare a schedule of beneficiary distributions as part of the Estate/Trust accounts.
• Prepare the forms R185 on behalf of the executors/trustees for each of the beneficiaries.
• If the beneficiary does not already prepare self-assessment returns, assist them with repayment claims in respect of the tax deducted at source, if applicable.