Deed of Variation pre August 2002 Land Registry Act

Trusts Discussion
1

Could anyone advise whether a deed of variation (which did not alter the tax position of the beneficiaries) executed prior to the 1 August 2002 Land Registration Act needed:

  1. to be registered with HMRC.
    If so, can the beneficiaries (the personal representative has died) get a copy from HMRC?
  2. to be registered with the Land Registry?

Please could you cite the relevant laws in both cases.

2

For a pre-1 August 2022 variation to be valid for IHT and/or CGT purposes, it was mandatory for it to be registered with HMRC.

Whether or not so registered, it will have had dispositive effect.

Whether or not HMRC will have kept a copy is debatable and, even if a copy was taken, HMRC’s file might not now be accessible given the passage of time.

If you have a note of the HMTRC reference for the estate, there is no harm in raising the question with HMRC (although getting round/complying with GDPR might create issues).

Paul Saunders FCIB TEP

Independent Trust Consultant

Providing support and advice to fellow professionals