Trust & Estate Registration
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Will Trusts & Complex Estates - Trust and Estate registration
Being a trustee comes with considerable administrative and legal responsibilities.
Our team of trusts experts is ready to help trusts and trustees with the registration process.
Trust registration
Trusts which meet the following conditions must be registered through the online service:
- The Trust has been expressly created. The Trust must be deliberately set up by the person who made it. In other words, it has not arisen automatically through law (such as statutory, resulting, or constructive Trusts)
- The Trustees have incurred a tax liability. This could be Income Tax, Inheritance Tax, Capital Gains Tax, or Stamp Duty Land Tax. However, this condition will not be met if the liability in question is an income tax liability of less than £100 incurred through bank or building society interest.
Estate registration
Estates which are considered by HMRC to be ‘complex’ must be registered. An estate that’s considered ‘complex’ would fall into any of the following categories:
- Has a tax liability (for income tax and/or capital gains tax) of more than £10,000 over the entire administration period
- Has a value at the date of death in excess of £2.5m
- The proceeds of any assets sold by the personal representatives in any one tax year is greater than: £250,000 (for deaths before 6 April 2016), or £500,000 (for deaths on or after 6 April 2016).
How can Goughs help?
Our specialist team support trustees with a full range of compliance and administration issues, and can register your trust for you too. We’ll help you understand your duties as a trustee and make sure you meet all necessary deadlines and obligations.
Popular questions about Trust and Estate registration
If you are a Trustee of a Trust which must be registered, but you do not do so in the relevant timescale, you may be personally liable to pay a penalty. Each matter is assessed on a case by case basis.
Responsibility for registration falls with the trustees. If you’re a trustee and would like any further information about registration, please contact our team for more information about how we can help.
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Your Trusts & Estates team
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