Steffan Cook

just to finish this thread off - I had a useful call with someone at HMRC about the trust. As the Trust assets is defined as 'income-generating' and the settlor is still alive, then the tax must be reported through the settlors personal tax return. If the settlor had not been alive then a Trust tax return, and therefore a UTR, would have been needed. So, problem is solved as I don't need a UTR anymore.

Hi, Thanks in advance for any help. I am a lead trustee trying to get a UTR for a trust through the HMRC Government Gateway. It is a discretionary trust holding only a life assurance bond, and as far as I understand, gains from life assurance bonds are treated as income. When I register the trust for tax, how should I classify the assets, do they need to be classified as 'moneys' as the LA bond gains are treated as income?