The ATT reports a number of clarifications from HMRC on how agents and executors should use the trust registration service (TRS). According to HMRC, the requirement to update details on TRS does not apply to estates which have registered to obtain a unique taxpayer reference for self-assessment purposes. HMRC also confirms that, although it would prefer executors and agents to use TRS to notify the closure of a registered estate, there is no obligation to do so. Notification can be made by letter or via a self-assessment return and, where such a notification has already been made in this way, HMRC will update TRS, rather than expecting the agent to do so.
The ATT reports a number of clarifications from HMRC on how agents and executors should use the trust registration service (TRS). According to HMRC, the requirement to update details on TRS does not apply to estates which have registered to obtain a unique taxpayer reference for self-assessment purposes. HMRC also confirms that, although it would prefer executors and agents to use TRS to notify the closure of a registered estate, there is no obligation to do so. Notification can be made by letter or via a self-assessment return and, where such a notification has already been made in this way, HMRC will update TRS, rather than expecting the agent to do so.
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