Changes To How Trusts Are Reported To HMRC
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Form 41G (Trust) has been withdrawn and will be replaced during summer 2017 by a new registration service.
When this new service is available, all trusts with a tax liability should use it to register with HM Revenue and Customs (HMRC).
HMRC has now confirmed that the trust registration form 41G(Trust) has been officially withdrawn, in readiness for the launch of HMRC’ online registration service for all trusts with a tax liability. This is despite the fact that the Register is not yet up and running. The new system will be introduced in two tranches in June and September.
Taxpayers who were about to send the form 41G(Trust) have been asked to wait until the online register is ready.
This is all part of the new reporting procedures being introduced to implement the EU Fourth Anti-Money Laundering Directive (4AML).
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