Gift Ruled to be a Transfer of Beneficial Ownership

This is an interesting case for anyone involved in issues/disputes over legal and beneficial ownership.  It includes a useful review of relevant case law and clearly emphasises the importance of the circumstances and facts. The England and Wales High Court…
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Trust Registration Obligations: Update Early March 2020

  “The immanent extension of the online UK Trust Registration Service (TRS) to cover express trusts without any tax consequences, under the EU Fifth Anti-Money Laundering Directive (5AMLD), is likely to extend the number of registrable trusts from around 200,000…
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Trust Registration: New Online Requirement

HMRC’s online registration service for trusts and estates is now available. All trusts and estates with a tax liability must be registered, including any already reported in paper form 41G. The deadline is 5 October 2017 –

Trust registration form is now officially obsolete

Form 41G (Trust) has been withdrawn and will be replaced during summer 2017 by a new registration service. When this is available all trusts with a tax liability should use it to register with HM Revenue and Customs –

HMRC survey asks why people set up trusts

HM Revenue & Customs has commissioned Ipsos MORI to conduct an independent survey to assess what motivates people to set up trusts, to help them understand the impact of policy changes in this area. Ipsos will give £50 to each…
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My last post on what might be called the new regime applying to relevant property trusts briefly considered some of the positives. It is now time to turn the spotlight on a couple of potential issues which trustees should be…
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Trustees and Residential Property

The government has tabled amendments to the Finance Bill extending the restriction on interest relief on let residential properties to the trustees of discretionary or accumulated income settlements. Interest paid by the trustees property business will be restricted to the…
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