HMRC softens its approach on fines for trusts 

clock • 1 min read
HMRC softens its approach on fines for trusts 

UK tax office HM Revenue & Customs will no longer impose £5,000 fines for first time failure to register under the new trust rules.    In an update to its Trust Registration Service Manual, HMRC said: "In recognition of the fact that the registration requirement is a new and unfamiliar obligation for many trustees, there will be no penalty for a first offence of failure to register or late registration of a trust unless that failure is shown to be due to deliberate behaviour on the part of...

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