Following legislation introduced on 6 October 2020, all express trusts (other than excluded trusts) now have to be registered on the Trust Registration Service (TRS) by the later of 1 September 2022 or 90 days from the date the trust was created.
This manual is to help people compute chargeable gains (and allowable losses) for both capital gains tax and corporation tax purposes or check computations. It supplements the basic guidance in the tax return and Help Sheets. It is written primarily for HMRC staff but it will also assist customers and their professional advisers. Customers filling in tax returns may not need to use the Capital Gains Manual at all. You can get basic information on how to compute chargeable gains (and allowable losses) from the Capital Gains pages of the tax return and the related Help Sheets. The Published Date at the top of a page is the date when the page was loaded onto the website. The content of a page in this manual will be older than the published date.
The April 2022 edition of HMRC’s trusts and estates newsletter highlights the 1 September 2022 deadline for registering non-taxpaying trusts and includes other useful updates on capital taxes.
Trust Registration Service opens to all non-taxable trusts icaew.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from icaew.com Daily Mail and Mail on Sunday newspapers.
TRSM10050 - Trust Registration Service Manual - HMRC internal manual gov.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gov.uk Daily Mail and Mail on Sunday newspapers.