Updates have been made to Government guidance on registering trusts this month.
Applicable to the clients who have trusts with a tax liability, the guidance has now been updated to include the types of trust which must be registered as well as the deadlines for registering.
This adds to the existing details included in the guidance, which provides information on how to register, the subsequent process after registration, when HMRC need to be informed about changes, as well as any penalties which may need to be paid where a deadline has not been met.
The updated guidance can be accessed here.
