Changes are afoot for domestic trusts, IRD will require any trust that derives income to disclose additional information for the 2021/2022 financial year onwards. But there are some exclusions… let’s have a look at what this means for your obligations.
Is your trust still relevant to your situation? The Trusts Act 2019 comes into effect in January 2021. Talk to us about your obligations and responsibilities under the law.
A number of properties are in the name of a non-active trust, such as the beneficiary home. Once that property is sold the trust is now required to provide an IRD number, are you prepared? Want to prevent that last minute panic? Talk to us, we can help.