HMRC has further updated its guidance on compliance with the
legislation of the registration of trusts which had tax
liability.
New trusts established in the 2017/18 tax year will need to be
registered by 5 October 2018 in order to obtain the Unique Taxpayer
Reference if they have an income tax or capital gains tax
liability.
This is also applies to trusts that have a liability for the
Inheritance Tax with Capital Gains Tax or Income Tax liability for
the 2017/2018 tax year.
All other trusts that have a relevant tax liability in 2017/18
must register beneficial ownership information about the trust
before 31 January 2019 ie. trusts that did not have a tax liability
in 2016/17 and therefore were not required to register by 5 March
2018.
