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New HMRC guidance

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HMRC has published the following:

  • Register a trust with HMRC: updated with more detail on the types of trust to register using HMRC’s trust registration service and relevant deadlines;
  • Records to keep for trusts: updated with a list of UK law enforcement authorities which can request information about the beneficial owners of express trusts, and more information on how long to keep details of income payments to beneficiaries;
  • Woodland owners: tax planning: explains that owners of woodland sites may be eligible for the conditional exemption tax incentive scheme, which offers exemption from IHT and CGT for heritage properties where certain conditions are met;
  • Find out about the pension scheme practitioner role: updated with what authorised practitioners cannot do on a scheme administrator’s behalf; and
  • Notice 832: tariff preferences: rules of origin for Mexico: amended to show the withdrawal of Notice 829 (Rules of origin for Syria).