HMRC softens its approach on fines for trusts 

Mark Battersby
clock • 1 min read

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 the trustees. "Where failures to register are due to deliberate behaviour on the part of the tru...

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