Trust Register - application of updated HMRC Guidance re class of beneficiaries


(mandy.connolly) #1

HMRC’s updated guidance issued on 22 November confirms that where a trust deed specifies a class of beneficiaries but the beneficiaries within that class are unnamed in the deed, details of the individual beneficiaries within that class only need to be disclosed when the beneficiary receives a benefit.

There seems to be an issue with this point for trustee (non-agent) registrations as the online form has not been updated and will not let you enter only a class of beneficiaries but also requires details of an individual beneficiary to be included. The form still states that beneficiaries that are identifiable (i.e. born or known by name) must be entered.

Does anyone know if there is a work around to this when for example there is a single stated class (e.g. grandchildren of the settlor), none of which are named individually on the deed and none of which have yet benefitted?

Mandy Connolly
LTS Tax Limited


(Laura Ford) #2

I’m afraid I don’t know the answer but I have had the same problem with registering a trust as an agent or am I on the wrong service? I have raised the question on the HMRC Agents’ Forum but no reply yet.
Laura Ford
C B Reid


(Karrie Smith ) #3

I had the same problem and received a call back from HMRC. The adviser stated that you need to untick the individuals box. the adviser at HMRC stated that the tick box with the individuals is optional. it will let you pass to the next screen without ticking a box. Hope this helps.

Karrie Smith
William Thomson and Sons