Years ago we took out a Witan Jump Savings Plan for our DC. Whilst they are now adults I still hold these plans, they are in my name with a designation for each child. We did not set up a Bare Trust when we took them out. Every year on my tax return I declare the dividend earnt, although it is reinvested. I fully expect to pay CGT when I eventually sell. Witan decided a few years ago that it wasn’t continuing to administer the scheme and it was transferred to Hargreaves Lansdown. HL have written to me following the new hmrc rules on trust registration advising that as the accounts have a designation they need to know if the accounts are a trust and if so I must register them.
Have spent about two hours on hmrc website (who cannot advise on individual cases) and online generally. Looked through initial paperwork etc - I don’t think it is a trust but is anyone else in this position and if so what did you do? Thanks for reading such a long post!