New rules require all UK express trusts and some non-UK trusts to register with HMRC. This includes non-taxable trusts unless the trust is specifically excluded. The deadline for trusts created or becoming registrable after 6 October 2020 is within 90 days of the trust being created, or becoming registrable, or 1 September 2022 (whichever is later).
Naomi Wells and Vanessa Clark of Azets presented a Tax Faculty webinar (available to all ICAEW members) on 13 July 2022. The webinar covered the new requirements and the exclusions. A recording and a copy of the slides are available to all members.
Further resources
- TAXguide 14/20 Trust Registration Service covers the mechanics of registering a trust
- Trust Registration Service Manual - HMRC internal manual. The trust section of HMRC’s online agent forum has answers to some particular questions and is the best way to raise general (non-client-specific) questions
- Tax Faculty members can seek advice through TAXconnect
- Members of the Small Practitioners Community can use the tax helpline
Tax Faculty
This guidance is created by the Tax Faculty, recognised internationally as a leading authority and source of expertise on taxation. The Faculty is the voice of tax for ICAEW, responsible for all submissions to the tax authorities. Join the Faculty for expert guidance and support enabling you to provide the best advice on tax to your clients or business.
More support on tax
ICAEW's Tax Faculty provides technical guidance and practical support on tax practice and policy. You can sign up to the Tax Faculty's free enewsletter (TAXwire) which provides weekly updates on developments in tax.
Sign up for TAXwireJoin the Tax FacultyThe future of tax after COVID
As digital technologies transform society, the UK government is grappling with balancing the books while ensuring its tax system is fit for purpose. Join us as we take a look at the issues and challenges facing the tax system.
Read moreMore from the Tax Faculty
Latest news
TAXwire
Stay up to date with the latest developments in tax by signing up to the Tax Faculty's weekly e-newsletter
Practical guidance
TAXline
Comprehensive support for Tax practitioners each month from the Tax Faculty and expert contributors.
Technical support
Webinars
Expert advice from the Tax Faculty's technical managers on all the developments in tax policy and practice.