Trust registration deadline extended
HMRC has been forced to extend the deadline of 10 March 2022 for non-taxable trusts to be registered using the Trust Registration Service. What's going on?
Currently, all UK express trusts that have a tax liability must be registered using the Trust Registration Service (TRS). Last year, the scope of the trust register was extended to all UK and some non-UK trusts, whether the trust has a tax liability or not, but there are some exclusions.
HMRC had set a deadline of 10 March 2022 for trustees or agents to register but failed to have the service ready in good time. Due to concerns that trustees and agents would not be able to meet the March 2022 deadline, HMRC has announced that the deadline will be extended until twelve months after the delivery of the expanded register.
It's possible to find out which trusts will need to be registered here.
Related Topics
-
HMRC to contact representatives over NI refunds for deceased taxpayers
HMRC has updated its guidance to confirm that it will write to representatives of deceased individuals where it believes too much NI has been paid. What should you expect if you receive such a letter?
-
Free childcare for company owners?
You’re an owner manager and your daughter is due to start nursery. You understand that working parents can get free childcare but a friend said this isn’t available if you only pay yourself dividends. Is this true and what can you do to qualify?
-
CT61
This website uses both its own and third-party cookies to analyze our services and navigation on our website in order to improve its contents (analytical purposes: measure visits and sources of web traffic). The legal basis is the consent of the user, except in the case of basic cookies, which are essential to navigate this website.