A trust which was wound up before 10 August 2017 does not need to register, even if it has a liability in 16/17.
A trust with a Vulnerable Beneficiary Election does not need to register.
Answers via HMRC today.
You reference the date 10 August 2017 - is this because you asked a question about a specific trust that wound up then or is this a cut-off?
Very useful info, thank you Cindy.
No. I asked the question generally, as we have a few like this.
it could be because the first agent’s webinar was held on 10th Aug. They may have made the change since then.
I have not gone through the webinar to check though.
Can someone please clarify if a trust has no CGT liability in 2016/17 (the actual CGT liability occurred in March 2016) but it returned the CGT return late and paid penalties on late filing/payment of tax in 2016/17, is this considered ‘liability’ for TRS registration purposes?
I would say no, based on the recent guidance section which states the relevant date is when the tax liability is triggered, not when the tax is actually paid.
Payne Hicks Beach