Reminder for trustees and agents to update the trust register or make a ‘no change’ declaration by 31st January 2021

Professional bodies, including The Chartered Institute of Taxation, are urging trustees and agents to update their details on the Trust Registration Service or make a ‘no change’ declaration by 31st January 2021.

HMRC have provided clarification for completing the 20.1 tick box question on the Trust and Estate return (SA900). Trustees and agents should ensure that completion of question 20.1 on the SA900 return, reflects whether their details have been updated or a ‘no change’ declaration has been made at the time of submission.

HMRC have confirmed there will be no automatic penalties issued where question 20.1 has not been completed by 31st January 2021. Instead, HMRC have announced they ‘will take a pragmatic approach to charging penalties, particularly where it is clear that trustees or agents have made every effort to meet their obligations.’

An amended return does not need to be submitted by trustees or agents if they have updated the register or made a ‘no change’ declaration, after the original return was submitted. This is providing the only change to the information is a tick in the box for question 20.1.