Following representations from the CIOT and ATT, HMRC have amended their guidance with regards to the new online trust registration service requirements in respect of beneficiaries.

Where a beneficiary is separately named on a trust instrument from members of a named class then trustees must provide the relevant information in respect of them but:

  • Where a beneficiary is not specifically named, being only part of a class of beneficiaries, the trustee will only need to disclose the identity of the beneficiary when they receive a benefit from the trust after 26 June 2017.
  • Where an individual is named in the trust deed but is only a potential beneficiary because they can only benefit after a certain event, for example the death of another beneficiary or of all other named beneficiaries in their class, their details do not need to be provided; HMRC will accept that only the class of which they are a part is listed, until such time as the relevant event occurs.
  • This will apply to both new trusts needing to be registered for the first time, and existing trusts whose details must be entered on the register.

The full HMRC guidance can be found here.


UK trusts

Agent access to online trust registration is now live



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