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Trusts registration service deadline extended

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HMRC is to extend the deadline for registration of new trusts via the new online trusts and estates registration service (TRS) by two months, until 5 December 2017. The new service was launched in July, replacing the paper form 41G(Trust).

HMRC has advised the ICAEW tax faculty of its intention to extend the deadline, as follows:

‘In this first year of TRS, to allow sufficient time to complete the registration of a trust for self-assessment and provide beneficial ownership information there will be a two-month extension to the deadline. No penalty will be imposed where registration is completed after 5 October but before 5 December 2017.

‘More information on when and how they can use the trusts registration service will be provided soon through the usual channels and on

‘More details will be provided via the Trusts and estates newsletter which is due to be published on 14 September.’