HMRC has indicated to the CIOT that taxpayers completing the 2016/17 trust return before the new trust register becomes available should leave box 20 of the form blank, but update the register when it is launched later this year. Box 20 refers taxpayers to their responsibility for ensuring that information supplied on the trust register is ‘accurate and up to date’.
As reported previously, HMRC has withdrawn form 41G(Trust), which has been the way for trustees to notify it of new trusts. Although the trust registration service is expected be made available to trustees this summer, HMRC has acknowledged that there is currently a period during which trustees cannot submit details.
HMRC is understood to have advised that: ‘During this period we are asking customers to leave box 20 of the SA900 blank and submit the form, but update the trust register when it becomes available.’
Agents will be able to register a new trust before October 2017, HMRC confirmed in the April issue of its Trusts and Estates newsletter.
HMRC has indicated to the CIOT that taxpayers completing the 2016/17 trust return before the new trust register becomes available should leave box 20 of the form blank, but update the register when it is launched later this year. Box 20 refers taxpayers to their responsibility for ensuring that information supplied on the trust register is ‘accurate and up to date’.
As reported previously, HMRC has withdrawn form 41G(Trust), which has been the way for trustees to notify it of new trusts. Although the trust registration service is expected be made available to trustees this summer, HMRC has acknowledged that there is currently a period during which trustees cannot submit details.
HMRC is understood to have advised that: ‘During this period we are asking customers to leave box 20 of the SA900 blank and submit the form, but update the trust register when it becomes available.’
Agents will be able to register a new trust before October 2017, HMRC confirmed in the April issue of its Trusts and Estates newsletter.
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