A client has asked me to prepare income tax returns for her deceased brother. This is not something I do often and, in the past, I have simply prepared the return for the deceased and also a trusts and estates return for the period from the date of death to 5 April. I have usually sent a 64-8 signed by the PRs and asked for a UTR to be issued. This time it seems that HMRC has a new procedure. Looking at the website, I think the estate may fall into the category of 'complex' estate, as theIT/ CGT is likely to be more than £10,000 before the estate is wound up, which is likely to be next year. However, it could be less. I am concerned that I can't register for a UTR in case I miss a tax return deadline. I called the helpline
and they suggested I write asking if it would be possible for the estate to be dealt with informally. Are there any pitfalls here? If the tax exceeds £10k, will the clients be penalised? Does anyone know when the new system will be up and running
and if agents will be able to register estates.
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