Hot off the press - We have just been advised by HMRC that the 5th October deadline for registering new trusts which was originally extended to 5th December has now been extended to 5 January 2018. This news comes after much pressure from agents and stakeholders.
This service must be used to record both new Trusts and Trusts which have any tax consequence in the tax year 2016/17. For those with an income or gains tax consequence must also use this system to request a UTR to allow a return to be filed.
New cases must be registered by 5 January 2018. This extension is only for the first year of the TRS. The TRS online service replaces the 41G (Trust) paper form, which was withdrawn at the end of April 2017.
Unfortunately, no extension to the deadline for existing cases has yet been announced, and these all need to be logged onto the system by 31st January 2018.
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