Registration period for smaller trusts extended to reduce compliance where income and application criteria are met. The period of registration for trusts or institutions that apply under the specified application categories of section 12A(1)(ac) will be extended from ... Summary
Registration period for smaller trusts extended to reduce compliance where income and application criteria are met.
The period of registration for trusts or institutions that apply under the specified application categories of section 12A(1)(ac) will be extended from five years to ten years where the total income, before applying sections 11 and 12, does not exceed the stated income threshold in each of the two preceding years; the change aims to reduce compliance for smaller trusts and will take effect from 1 April 2025.
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