HMRC has confirmed that the planned change to simplify the authorisation of agents by trustees has not gone ahead due to security concerns, the Institute of Chartered Accountants for England and Wales (ICAEW) has confirmed.
The Trust Registration Service (TRS) process will remain unchanged, HMRC said.
HMRC had previously updated its guidance on the TRS to confirm that from 29 June trustees would no longer need to claim a trust prior to authorising an agent. This would remove one step from the process.
However, on 9 July HMRC confirmed that further investigations had revealed it was not possible to remove this ...