I set up a Hargreaves Lansdown account for each of my children in 2012.These are designated accounts. I did set them up as Bare Trusts ( if filling a form in at home is all it takes?).
Each holds less than 20k in funds. They have never paid out any income.
So I was wondering if :
a) I need to register these for the September deadline?
b) if so is the accrued income (actually accumulation units) deemed a tax liability for the years these have been held (since 2012)?
Sorry for the basic questions but have only just become aware of the need to register.
Any help much appreciated.
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