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Posted Wed, 24 Aug 2022 12:55:03 GMT by Jacques Leclerc
If a trust is liable to IHT or SDLT or SDRT it must register on TRS as a taxable trust: TRSM25030. But it is impossible to do this online as the system only allows the trustee to choose income tax or CGT and otherwise sends you down the non-taxable route. How does the trust fulfil its obligation to register on TRS? Clue: the answer is not to write to Trusts and Taxes
Posted Tue, 30 Aug 2022 14:47:22 GMT by HMRC Admin 18
Hi,

If a trust is liable to IHT or SDLT or SDRT it must register on TRS as a taxable trust: TRSM25030. But it is impossible to do this online as the system only allows the trustee to choose income tax or CGT and otherwise sends you down the non-taxable route. How does the trust fulfil its obligation to register on TRS? Clue: the answer is not to write to Trusts and Taxes

You would register under income tax or capital gains tax depending on which tax the trust is liable for.  The guidance at:

Register a trust as a trustee

advises Trusts that are liable for Income Tax or Capital Gains Tax for the first time.  Register your trust on or before 5 October in the tax year after the one in which the trust starts to receive any income or has capital gains, and becomes liable for Income Tax or Capital Gains Tax.

For example, if your trust received some interest for the first time in May 2019 (the 2019 to 2020 tax year) and became liable to Income Tax on it, you should have registered on or before 5 October 2020 (in the 2020 to 2021 tax year).

Thank you.
 
Posted Wed, 31 Aug 2022 09:49:01 GMT by Jacques Leclerc
You did not answer the question. What if the trust is not liable to CGT or IT but only to IHT or SDLT or SDRT?

[Post amended - Admin]
Posted Wed, 07 Sep 2022 11:24:14 GMT by HMRC Admin 17

Hi,
 
As your question relates to a specific online registration issue, please call the Trusts helpline on 0300 123 1072
to discuss possible workarounds.       

See link:

Trusts   .

Thank you.
Posted Wed, 07 Sep 2022 11:45:37 GMT by Jacques Leclerc
Absolutely not good enough.

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