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Private Client weekly: UK tax residence reforms, IHT long-term residence, remittance basis abolished; TRS duties; HMRC manuals; Court of Protection reach; cryptoassets; insolvency undervalue—10 April 2025

Published on: 10 April 2025

Published by a LexisNexis Private Client expert
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  • Probate
  • Trusts
  • Court of Protection
  • UK taxes for Private Client
  • HMRC Manuals tracker
  • Insolvency—private client
  • Digital assets and cryptoassets
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Probate

IHT400 revised and new IHT401a schedule to note non long-term residence of the deceased

With the residence-based IHT regime commencing on 6 April 2025, and as highlighted in HMRC’s Trusts and Estates newsletter, HMRC has refreshed Form IHT400 and introduced schedule IHT401a to address cases where the deceased was not a long-term UK resident at the date of death. Sources: Inheritance Tax: long-term United Kingdom (UK) residence (IHT401a) and HMRC Trusts and Estates Newsletter: April 2025.

Trusts

Trust Registration Service (TRS) update: trustees must close and re-register trusts ceasing to be taxable

HMRC has clarified that when a trust stops being taxable and is expected to stay non-taxable, trustees need to close the existing taxable registration and register it as non-taxable on the TRS by 31 January following the tax year in which it ceased to be taxable...

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