Trust Name Format

Trust Name Format

Postby KartRacer on Sun Dec 18, 2011 12:34 pm

When completing HMRC 41G for the creation of a new trust, is there correct format for the title of the trust?

I've had a look through forum posts, found a mention of "The Trust Fund of XXXX" which struck me as appropriatte, but other than that, it appears to be a point of which little empahsis is placed ?
KartRacer
 
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Re: Trust Name Format

Postby pqtaxation on Mon Dec 19, 2011 2:46 pm

HMRC’s administrative systems look up their reference number for the trust so how you name the trust is not important to them.

You give no information on how trust/settlement was created (for example lifetime or will) and its purpose/expected duration.

If lifetime, usually called {settlor’s name} Settlement {Number x} {year}
If will, {deceased’s name) Will Trust {Number x}

“Fund” is used verbally but not included in title as it adds nothing and may be misleading.
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Re: Trust Name Format

Postby section 44 on Mon Dec 19, 2011 4:57 pm

Presumably the name is what it is. That is, if the trust's name includes the word "Fund" then it should be included in the form, if it doesn't include that word then it shouldn't be included in the form.
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Re: Trust Name Format

Postby KartRacer on Sat Dec 31, 2011 12:24 pm

Thanks for your help, the trust was created as part of a Will,
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