About 170,000 trusts will need to have registered their arrangements with HMRC by the time the 5 March deadline expires.

To help with the flurry of activity in the run-up, the CIOT and ATT have received further clarification from the Revenue about the trust registration service (TRS). The full guidance is on the CIOT website.

Deeds of variation

On who should be declared as the settlor when a trust has been created by a deed of variation, HMRC states:

‘Where the trust has been established by a deed of variation or family arrangement, give details of each person who took less under the deed than they would …