Tax and TRS Update

An update on capital taxation

What we can advise clients on capital tax planning after the 2021 and Spring 2022 tax changes

• What does the Health and Social Care levy mean for client’s planning?
• What might clients do with increasing property values and are lifetime gifts possible?

The latest on Trust Register practice for express trusts and joint ownerships – what must still be registered and the latest HMRC guidance.

After the initial TRS deadline for registration of express trusts,1 Sept 2022, many questions will remain for practitioners. The scope of TRS, and what needs registering still presents many issues, and can seem random or unfair. This talk will help to bring clarity, whether your firm registers trusts, or you help guide clients what to do.  Any significant developments will be addressed, and will include:

• Co-ownership of property and the interaction with estates and will trusts
• Practice issues: What is HMRC’s practice on penalties? What to do with old matters and cases where there are no funds or the trustees won’t pay?

John Bunker, Solicitor, Chartered Tax Adviser and Lecturer