Tech 03/11 - Service Charge Accounts and Interest Income

I have the issue of numerous property service charge accounts now being subject to Trust Tax on interest income since applying Tech 03/11.  As service charge accounts are now separate from the limited company entity, the service charge monies are held in trust by the limited company and therefore the interest income belongs in the service charge accounts and subject to trust tax not corporation tax.  However, unlike corporation tax, HMRC does not apply a de minimis on trust tax so even small amounts of interest income are subject to trust tax and require a trust tax return to be filed.  This is administratively burdensome for both the tax payer and HMRC.  Has anyone encountered this and dealt with it more effectively?

It has been suggested to me that the interest income could be put through the limited company and net of some expenses and/or corporation tax de minimis applied, the tax could be avoided.  This seems wrong to me as the limited co is trustee and does not own the service charge monies so cannot earn interest income.  Am I not correct?

 
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