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 reminds employers to check tax codes at start of new tax year
HMRC is reminding employers to review PAYE coding notices as the 2026/27 tax year gets underway. With new tax codes now in operation, what should you be looking out for?
-
Salary v dividends in 2026/27
Dividend tax rates have increased by 2% for 2026/27. Add that on to the other recent tax hikes and it starts to look very expensive to run a company. Is the combination of a low salary topped up with dividends still tax efficient?
-
Practical guide: Incorporating a property business
An individual with a significant property portfolio is considering incorporating their business. What are the key considerations and are there any traps to avoid or tax planning opportunities?
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.