HMRC have updated their guidance on reporting trust discrepancies, to reflect new regulations that came into force on 1 April 2023. The overall guidance is arranged under the following headings:
- Check if you are a ‘relevant person’
- What must be included on the proof of registration
- When you can submit a report
- What you’ll need
- Submit a report
- After you have submitted your report
https://www.gov.uk/guidance/report-a-trust-discrepancy-to-hmrc
Related content from Claritax Books
This substantial volume on Financial Planning with Trusts, jointly written by John Woolley and Marcia Banner, looks at a wide range of topical tax and financial planning strategies using trusts. The book includes CGT, income tax and IHT.
Examples of the topics covered include (among many others) lifetime IHT planning; family investment companies as alternatives to trusts; offshore trusts; trusts and deeds of variation; trustee investment strategies; death benefits under registered pension schemes; by-pass trusts; asset protection trusts; personal injury trusts; money laundering and the Trust Registration Service.
