Closing a Will trust

RnK136

I did a HMRC trust registration earlier this year as it was 2 years after my Mum died and in her will she left her half of the property to me and my Brother in trust, with my Dad retaining a beneficial interest.

Now 6 months later, my Dad has also died meaning the trust has ended (Dad's will mirrored Mum's so now we are the joint beneficiaries of everything as they have both died).

I assume I am to close the trust, but would there be anything to do otherwise for this with tax or anything? During trust registration it didn't ask for any value of the property, in fact it never even asked for any property details at all.

Thanks for any experiences others have had in a similar situation. 

tls123

I don’t have direct experience but on the HMRC trust registration page says you can close the trust by updating the online trust deatils as long as you have the unique trust registration number. It states you might have to submit a tax return for the year it ended it’s ambiguous wording but I take it to mean where the trust is taxable, most trusts have been recently asked to register via the same service so the wording is probably to encompass lots of scenarios.