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United Kingdom › Trusts › Tax Liability

Walkers

Retiring trustee – reasonable security and retention of assets

Walkers on

Under section 43(b) of the Trusts (Guernsey) Law, 2007, when a trustee resigns or is removed it may require that it be provided with reasonable security for liabilities before surrendering trust property....more

Hogan Lovells

How the UK Trust Registration Service applies to trusts of real estate and changes for unit trusts

Hogan Lovells on

Trustees which are UK resident, have UK assets or income which trigger a UK tax liability or directly acquire UK land on or after 6 October 2020 will generally have to register the trust with HMRC's Trust Registration Service...more

Cadwalader, Wickersham & Taft LLP

Haworth: Residency Tie-Breaker Tests in a ‘Round the World’ Tax Scheme

Cadwalader, Wickersham & Taft LLP on

The UK’s First-tier Tribunal recently considered the application of the “place of effective management” residency tie-breaker test found in double tax treaties in the recent case of Haworth and others v HMRC [2022] UKFTT 34...more

BCLP

Extension of UK trust register limited for non-UK resident trusts with no UK tax liability

BCLP on

Non-UK resident trusts where all the trustees are non-UK resident and where the trust has no UK tax liability or directly-held UK assets will not have to register on the UK trust register simply because they enter into a...more

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