Executors do not need to notify end of administration to Trust Registration Service

News Team, 26/11/2020

HMRC has confirmed that executors do not need to update details of complex estates on the Trust Registration Service (TRS), at the end of the estate administration period.

Although, the tax authority said it would be preferred.

An estate is considered complex if any one (or more) of the following conditions are met:

- The income tax and CGT due during the entire administration period will be more than £10,000.

- The estate was worth more than £2.5 million at the date of death.

- More than £500,000 a year came from the sale of the estate’s assets by administrators or executors.

If an estate is considered complex, the executors must register for self-assessment and obtain a unique taxpayer reference (UTR).

Since 2017, complex estates have obtained a UTR by registering on the TRS. When the administration period comes to an end, the executors can advise HMRC either by letter, or via self-assessment.

But, in April 2020, the functionality of the TRS was increased, and HMRC asked personal representatives to make notifications of changes to the personal representative’s details and notify the “closure” of the estate via the TRS.

Given that reporting the “closure” of ...

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