ICAEW’s Tax Faculty provides links to help practitioners find the latest tax rates, allowance and reliefs.
HMRC contact information, including telephone numbers, online options and postal addresses, together with tips.
Tax is a fast-moving and ever-changing world. Our expert staff and volunteers, and consultation work with government, means we can bring you the latest developments and expert opinions. Join today to access our resources and keep on top tax form.
ICAEW's Tax Faculty produces TAXguides to provide practical support on technical areas of tax
Guidance on registering trusts on the Trust Registration Service and updating that information.
This TAXguide has been prepared by committee members of STEP, ICAEW, the CIOT and the Law Society to highlight practical issues and uncertainties raised by Finance Act 2018 Schedule 10 (Settlements: Anti-avoidance, etc.).
Finance (No 2) Act 2017 introduced significant changes to the taxation of foreign domiciliaries. In TAXguide 06/18 ICAEW, STEP, the CIOT and the Law Society have published questions and draft suggested answers to highlight and consider areas of uncertainty in the statutory provisions for trust protections. Read a summary and download the full guide.
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.
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.
Reforms to the Taxation of Non Domiciles - Meeting notes
Inheritance Tax and Trusts: Trust variations and settlements
Inheritance Tax and Trusts: Update on Finance Act 2006 - Agreed correspondence with HMRC (replaces TAXGUIDE 01/07)
Features and articles
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.
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.
The Trust Registration Service will be closed from 29 April to 4 May 2021 for a technical update and when the service reopens additional data will be required to complete registrations. ICAEW’s Tax Faculty highlights the changes.
HMRC has agreed an analysis of when the inheritance tax spouse exemption is available for assets held in a trust which are treated as beneficially owned by the settlor as a result of the reservation of benefit rules.
5 February 2021: HMRC is developing the Trust Registration Service (TRS) to allow for the extension of the requirement to register to certain non-taxpaying trusts. ICAEW’s Tax Faculty is encouraging members to help test the system.
11 December 2020: Many trusts need to update details on the trust register or make a ‘no change’ declaration by 31 January 2021. Functionality is now available and HMRC has clarified its position on penalties, trust returns and closing trusts.
Andrew Cockman, Director of AMC Tax Consulting Ltd, looks at the implications of changes to inheritance tax (IHT) rules in the Finance Act 2020 (FA 2020).
10 September 2020: Freshfields Bruckhaus Deringer are hosting a webinar “What's the point of purpose tests?” to raise funds for the Bridge the Gap campaign on 8 October.
Webinars and recordings
Frank Haskew and Caroline Miskin discuss the latest developments on HMRC’s agent strategy and services.
Bloomsbury Core 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 Core Accounting and Tax Service.
A chapter on tax planning with trusts, highlighting tax planning opportunities and potential pitfalls.
Regularly updated service providing comprehensive practical information on drafting trusts.
Practical guide to setting up a trust, and managing and administering it once it has been established.
Four chapters covering the taxation of both UK resident and non-UK resident trusts, with worked examples.
Annual guide to the UK tax system related to trusts and deceased estates, providing worked examples and tax tables.
A full chapter on the taxation of trusts and estates in the UK, written for tax practitioners.
Practical overview of the inheritance tax treatment of an interest in possession trust, written for tax practitioners.
HMRC Manual providing an introduction to trusts, their income and gains and how HM Revenue & Customs treats them for tax purposes.
The Library & Information Service provides a collection of eBooks as a benefit of membership. Please log in to access these titles. If you are unable to access an eBook, please see our Help and support or contact firstname.lastname@example.org.
Guide to the UK tax system for tax practitioners and students.
A response dated 21 February 2020 to a consultation published by HMRC on 24 January 2020
A response dated 28 February 2019 to a consultation published by HMRC on 7 November 2018.
Trust registration service penalties
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.
Newsletters published by HMRC, usually biannually, giving updates and guidance on trusts taxation and inheritance tax issues.
Guide explaining the basic rules for trustees, settlors and beneficiaries of non-resident trusts, and providing guidance on non-resident trust tax rules.
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.
HMRC internal manual providing guidance on trust tax and gains, and how different types of trusts and estates are treated for tax purposes.
HMRC guidance on the direct tax obligations of charities, VAT and reliefs or exemptions available. Sections cover Gift Aid, Payroll Giving, donating land, buildings, shares or securities, claims, and audits.
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.
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.
ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided ‘as is’ with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.