Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Reporting definition

What does Reporting mean? In pensions practice, reporting means the regular communications trustees or providers give to members on investment performance and the value of their pension benefits. The term is descriptive; the underlying disclosure duties are set by legislation and regulation. Across England & Wales, Scotland and Northern Ireland, the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013 and, for contract‑based/personal pensions, FCA rules require at least an annual benefit statement. For money purchase (DC) benefits, this must include an annual Statutory Money Purchase Illustration (SMPI) projecting benefits to retirement in today’s terms, calculated in line with FRC Actuarial Standard TM1....

UK trusts: IHT100 event forms, excepted settlement rules, payment and reporting deadlines, penalties, and Trust Registration Service obligations, updated for Finance Act 2025 residence-based IHT changes

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Practice notes

STOP PRESS: Abolition of non-dom regime and introduction of residence-based IHT regime

Finance Act 2025 (FA 2025), which received Royal Assent on 20 March 2025, brings in legislation to remove the remittance basis and usher in a residence-based system from 6 April 2025. FA 2025 also substitutes domicile as the determining factor for Inheritance tax exposure. Additional updates amend the rules for excluded property, abolish the protected settlements status of offshore trusts, and alter overseas workday relief. For further detail, see Practice Notes: The abolition of the remittance basis of taxation from 2025–26 and A new residence-based regime for IHT from 2025–26. See also: Finance Bill Tracking Service: Key dates (Finance Bill 2025) and Finance Act 2025.

Trustees have multiple duties to file tax returns and supply information to HMRC. Alongside submitting a self assessment trust and estate tax return (SA900) when income and/or gains arise in the trust (see Practice Note: Trusts—income tax and Capital gains tax return for guidance), trustees must complete the appropriate form IHT100 variant whenever an inheritance tax (IHT) chargeable event has occurred...

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Web page updated on 22/05/2026

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