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Expert commentary and practical guidance from ICAEW related to the taxation of trusts in the UK personal tax regime.

In this section

Practical guidance

ICAEW's Tax Faculty produces TAXguides to provide practical support on technical areas of tax

TAXguide 03/21: Deemed domicile changes - trust protections and OIGs

Guidance from ICAEW, STEP, and the CIOT to highlight a key issue with respect to the trust protections as introduced by Finance (No 2) Act 2017. This guide focuses on the situation where the settlor is deemed UK domiciled only under the 15-year rule and offshore income gains arise directly to the non-UK resident trust.

TAXguide 04/18: Residence and domicile

In TAXguide 04/18 Lisa Spearman provides an introduction to the taxation issues which may be in point when considering the non UK aspects of a client’s affairs. Read a summary here, Tax Faculty members can download the full guide.

TAXguide 04/17: Offshore trust changes

In TAXguide 04/17 - Offshore trust changes, Sue Moore, technical lead for private client tax matters in the Tax Faculty, provides information on the implications of changes to income tax legislation published on 26 January 2017. In particular the guide offers more details on transfer of assets and settlements legislation and has been created with input from HMRC.

TAXguide 12/15

Reforms to the Taxation of Non Domiciles - Meeting notes

TAXguide 10/15

Inheritance Tax and Trusts: Trust variations and settlements

Features and articles

Updated Statement of Insolvency Practice 3.3 Scotland (Trust Deeds)

A revised SIP 3.3 relating to trust deeds has been issued. It was approved by the Joint Insolvency Committee and each of the recognised professional bodies following consultation with the profession and wider sector stakeholders. The main changes in the revised SIP 3.3 relate to the principles, key compliance standards and standards of specific applications being, as far as practicable, aligned with the recently revised SIP 3.1 relating to individual voluntary arrangements taking account of Scots law, trust deed procedures, appropriate terminology, etc.

Tax news in brief 19 April 2023

Highlights from the broader tax news for the week ending 19 April 2023, including: closure of online VAT return; PAYE direct debits; TRS reporting requirements; interest rate increase for discounted gift trusts; NMW campaign; Finance Bill amendment for R&D; closure of the DAC6 reporting service; and Tax Administration and Maintenance Day.

Two registers to watch out for

As we all know by now, the Trust Registration Service was set up in 2017, as part of a worldwide drive to reduce money laundering. Although this was done as part of a European initiative, it was agreed as part of the Brexit Withdrawal Agreement that this would be maintained in future. However, another register has been introduced with very little notice or publicity.

Trust Registration Service opens to all non-taxable trusts

HMRC has opened the Trust Registration Service to all non-taxable trusts. The deadline for registering these trusts has been extended to 1 September 2022. ICAEW’s Tax Faculty can confirm that trusts relating to healthcare policies and children’s bank accounts will not be required to register.

No change to TRS agent authorisation process

HMRC has confirmed that a planned change to simplify the authorisation of agents by trustees has not gone ahead due to security concerns. HMRC has told ICAEW that the Trust Registration Service process will remain unchanged.

Webinars and recordings

Trust Registration Service Update

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.

HMRC agent strategy and services

Frank Haskew and Caroline Miskin discuss the latest developments on HMRC’s agent strategy and services.

Bloomsbury Accounting and Tax Service

Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising more than 60 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Accounting and Tax Service.

Trusts and estates 2023/24

Annual guide to the UK tax system related to trusts and deceased estates, providing worked examples and tax tables. This edition has been updated in line with recent legislation up to Finance (No 2) Act 2023, changes to HMRC guidance, and recent case decisions including Harrison v HMRC, 2023 UKUT 00038 TCC.

Planning and administration of offshore and onshore trusts

Practical guide to setting up a trust, and managing and administering it once it has been established.

Trusts: interest in possession

Practical overview of the inheritance tax treatment of an interest in possession trust, written for tax practitioners.

Trusts and estates

A full chapter on the taxation of trusts and estates in the UK, written for tax practitioners.


Four chapters covering the taxation of both UK resident and non-UK resident trusts, with worked examples.

Trust drafting and precedents

Regularly updated service providing comprehensive practical information on drafting trusts.

Tax planning with trusts

A chapter on tax planning with trusts, highlighting tax planning opportunities and potential pitfalls.

Residence of trusts and estates

A chapter on UK taxation of trusts and estates in relation to the laws of residence and domicile.

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Private client: wills, trusts and estate planning 2023

Provides an introduction to the legal and taxation implications arising from estate planning work for clients within the private client department of a solicitor's practice.

Private client: wills, trusts and estate planning

A comprehensive and user-friendly examination of the legal and taxation implications arising from estate planning work within the private client department of a solicitors' firm. The guide deals in a practical way with all the areas confronting the practitioner on a day-to-day basis, from tax and financial planning to the administration of trusts. Worked examples illustrate how to calculate the tax position of the client. This new edition has been updated to take account of recent decisions such as Smith v Michelmores Trust Corp Ltd.

UK tax system: an introduction, The (4th edition)

Guide to the UK tax system for tax practitioners and students.

UK tax system: an introduction, The (3rd edition)

Guide to the UK tax system for tax practitioners and students.

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ICAEW Rep 76/18

Trust registration service penalties

Further support

Useful links

Some resources that we link to may pre-date the latest amendments to the relevant tax regulations. While these links contain useful information, please treat them with appropriate caution.

Non-resident trusts

Guide explaining the basic rules for trustees, settlors and beneficiaries of non-resident trusts, and providing guidance on non-resident trust tax rules.

Trusts and taxes on GOV.UK

An overview giving information and guidance on types of trusts, how trusts are treated for income tax, CGT and inheritance tax purposes, tax for trust beneficiaries, and the tax reponsibilities of trustees.

Trusts, Settlements and Estates Manual

HMRC internal manual providing guidance on trust tax and gains, and how different types of trusts and estates are treated for tax purposes.

Charity Tax Group (CFG)

A non-profit membership organisation previously known as the Charities' Tax Reform Group, which makes representations to government on issues relating to the taxation of charities. The site includes updates and commentary on a wide range of tax issues relevant to charities.

The Tax Implications of Charity Trading

Guidance for lay users on the tax aspects of the main areas of trading activity that charities get involved in. Sections cover fundraising, basic tax exemptions, business sponsorship, trading companies, shops and cafes, merchandising, events, providing services, cost allocation, transfer pricing, loss making trades, and social enterprise.

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