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 estateâ...
