HMRC have updated this manual with new “information on CGT on UK Property paper returns”.
The changes are at TRSM under the heading of “Types of trust that need to be registered: contents: registrable taxable trusts: contents: when does a trust have a liability to UK taxation trigger the requirement to register”.
The reference to paper returns now reads as follows:
“Where trustees need to report a disposal of property or land but there is no NRCGT liability to pay, there is no requirement to obtain a trust UTR or TRN via TRS. In this circumstance, trustees can report using a CGT on UK Property paper return – see CG-APP18-110, 1.13 Paper returns.”
https://www.gov.uk/hmrc-internal-manuals/trust-registration-service-manual/trsm25030
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.
