Please help, I need chapter and verse as to formalities and requirements! I have been passed from pillar to post at HMRC and am starting to lose the will to live as no one can give me the chapter & verse on what I need to do!
A trust with more than the NRB has been placed into a discretionary trust by way of a deed of variation within the last couple of months. There are clearly going to be anniversary charges and exit charges but we have until 2025 until the 10 year anniversary.
My question is what do I need to file at HMRC - do I file an IHT100? Is there a supplementary page I need to file as IHT100a doesn’t seem appropriate.
Someone has suggested I also file an IHT122 but having looked online, I surmise that an IHT122 is only filed AFTER a chargeable event.
I clearly also need to register the trust under the trust register. Does anyone know whether this will automatically register the trust for income tax purposes and issue the Trust with a UTR?
Any guidance would be very much appreciated!
Penny Munro
Farnfields