Lowes Magazine Issue 121

INSIDE TRACK

Winner of the Client Competition 2021

LAST JANUARY, WE ASKED YOU TO PREDICT, TO TWO DECIMAL PLACES, the value of the FTSE 100 at close of the last day of trading in 2021. To help, we provided the numbers for the last days of trading for the previous five years. The FTSE 100 has risen steadily throughout the year, reaching a high of 7384.2 in November before news of the Omicron strain of Covid-19 had some impact. After a brief decline the index subsequently recovered to finish the year fractionally above the November high at 7384.54. Congratulations to Mr Heaton from Darlington, County Durham, who was closest to the figure. A voucher for £250 is on its way to you. See page 15 for our 2022 competition.

FTSE 100 closing figure last trading day 2016-2021

2021 2020 2019 2018 2017 2016

7,384.54 6,460.52 7,542.44 6,728.13 7,687.77 7,142.83

Source: London Stock Exchange

Registering trusts

accounts and tax returns, and meeting tax reporting requirements. Trustees are also expected to conduct regular investment reviews, with a suitably qualified and certificated investment adviser. Increasingly, this expanding set of rules is an onerous burden on amateur trustees and in most cases is best handled by professional trustees.

CLIENTS WITH TRUSTS SHOULD BE AWARE THAT new rules and deadlines for registering trusts with HMRC are now in force. These new rules extended the scope of the Trust Registration Service to many UK and some non-UK trusts, regardless of whether the trust has to pay any tax (there are some specific exclusions). The deadline for registrations for non-taxable trusts is 1 September 2022. Trustees can register trusts via the GOV.UK website. Trustees’ list of responsibilities has been getting longer since the Trustee Act 2000 and include dealing with all payments to settlors and beneficiaries, trust expenses,

If you require a professional trustee service, please call 0191 281 8811.

The content of the articles featured in this publication is for your general information and use only and is not intended to address your particular requirements. Articles should not be relied upon in their entirety and shall not be deemed to be, or constitute, advice. Although endeavours have been made to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No individual or company should act upon such information without receiving appropriate professional advice after a thorough examination of their particular situation. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of any articles. Thresholds, percentage rates and tax legislation may change in subsequent Finance Acts. Levels and bases of, and reliefs from, taxation are subject to change and their value can go down as well as up and you may get back less than you invested. Past performance is not a reliable indicator of future results.

Covershot: Blue crystal ice cave entrance and an

underground river beneath the glacier located in the Highlands in Iceland Photo: Shutterstock

2 LOWES Issue 121 · Published Jan 2022