New requirements for trust registration have been introduced. We will register your trust with HMRC for a fixed fee of £300 plus VAT. Call 01272 372128 or send us an email [email protected].
Most trusts must now be registered with the UK Trust Register even if they don’t have a UK tax liability. Non-UK trusts also need to be registered if they are liable to UK tax.
Registration must take place within 90 days of the trust being created or within two years of death if it is a will trust.
There are certain exemptions from trust registration where a trust is not liable to pay UK tax.
These exempted trusts include occupational pension schemes, some life and retirement policies (where the policy only pays out on death, terminal or critical illness or permanent disablement, or to meet the healthcare costs of the person assured), trusts holding insurance policy benefits received after the death of the person assured (where the benefits are paid out from the trust within 2 years of the death), charitable trusts, ‘Pilot’ trusts which were set up before 6 October 2020 and which hold no more than £100, Co-ownership trusts set up to hold shares of property or other assets which are jointly owned by 2 or more people for themselves as ‘tenants in common’, and Will trusts that come into effect on death (providing they only hold the estate assets for up to two years).
We are North Devon trust registration specialists and will register your trust with HMRC for a fixed fee of £300.00 plus VAT. Call us on 01271 372128 or by email at [email protected].
