Are you a Trustee?

News  |   16 March 2022

Written by
Leah Barrett, Solicitor

Historically, HMRC regulations only applied to ‘income producing trusts’ (taxable trusts), but these regulations have now been extended to INCLUDE ‘non-income producing trusts’ (non-taxable trusts).

• Trusts created before 6 October 2020 MUST be registered by 1 September 2022

• Any non-taxable trusts, created after 6 October 2020, MUST be registered within 90 days or by 1 September 2022, whichever is later

HMRC have advised that penalties may be applied, if your trust has not been registered by this deadline.

But this doesn’t mean that you need to worry, and it doesn’t need to be time consuming or overwhelming for you. Let Thackray Williams step in and we will complete the registration process for you.

If you’d like to chat to us about registering your trust, then please call Rebecca Mayho on 020 8461 6122 or Leah Barrett on 020 8461 6118 for more information or download the registration form here

Related Insights