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HMRC will trust registration done... What now? What next?
RnK136
Posts: 98 Forumite
I just completed trust registration of my Mum's 50% share of their property which is left to me and my brother (with my Dad retaining a beneficial interest).
So, what do I have to do now as Lead Trustee?
If we do not sell the property so nothing changes, are there still any annual reporting obligations or similar to do?
I suppose things get complicated if we sell the property and the income money from the 50% goes into a Trust Fund (of which my Dad is entitled to receive the interest from whilst he's still alive) and there is tax to pay on the interest it earns?
So, what do I have to do now as Lead Trustee?
If we do not sell the property so nothing changes, are there still any annual reporting obligations or similar to do?
I suppose things get complicated if we sell the property and the income money from the 50% goes into a Trust Fund (of which my Dad is entitled to receive the interest from whilst he's still alive) and there is tax to pay on the interest it earns?
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