HMRC has updated the rules surrounding Trust Registration. Previously only certain trusts had to register with HMRC however, now all Trusts (apart from a few exceptions) are required to register under the HM Revenue and Custom’s Trust Registration Service.
Further information can also be found on the HMRC website:-
https://www.gov.uk/guidance/register-a-trust-as-a-trustee
The deadline for registration is 1st September 2022 and penalties may apply for failure to register on time. Even if this deadline is missed it is important to seek professional advice at the earliest opportunity.
This is provided for general information purposes only and professional advice should be taken in every case.
Author information:-
Solicitor
Private Client Team
Tel: 028 90 245034
Copyright 2022 Elliott Duffy Garrett
Every care has been taken in the preparation of this bulletin; readers are advised however to seek legal advice in relation to specific issues.
