Trust Registration Service – change of deadline

By Technical Team on 09 Nov 2017

HMRC has confirmed that the 5 October 2017 deadline will be extended further to 5 January 2018. This means that trusts which have incurred a liability to Income Tax or Capital Gains Tax for the first time in 2016/17 will need to complete registration on the TRS by no later than 5 January 2018. This extension is only for the first year of TRS and also applies to the registration of complex estates. 

The 31 January 2018 registration deadline, applies to trusts that have incurred a liability to UK tax and are either already SA registered or do not require SA registration. HMRC has not extended this deadline, although they have noted our comments about having a light touch approach to the penalties in the first year to allow the trust industry time to comply with the requirements.

HMRC’s letter confirming the above is attached below. Our original letter can be found in the submissions section of our website.

We will continue to work with members and HMRC regarding operation of the TRS, and if you have any comments please send them to technical [at] ciot.org.uk.

(09-11-2017)

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