HMRC’s Trust Registration Service
Taxable trusts have been required to register with HMRC’s Trust Registration Service (TRS) since it was set up in 2017.
As part of the government’s anti-money laundering requirements, UK Express Trusts in existence on or after 6 October 2020 (unless specifically excluded) must also now register with HMRC regardless of whether the Trust has a current tax liability.
For all applicable Trusts existing on or after 6 October 2020, the requirement to register still applies even if you have closed or withdrawn all the money from the Trust.
Trustees of applicable Trusts are required to register with HMRC via the HMRC Trust Registration Service (TRS). HMRC could impose a fine if this is not completed. The register must also be updated when details change in the future, for example when trustees retire or are appointed.
If you have any questions about the TRS or you’re unsure if this applies to you, we recommend contacting HMRC, your solicitor or a tax specialist. You can also find out more on the HMRC website.
How to register
Step 1
Your Trust will need to nominate a lead trustee to be the main point of contact for HMRC. The lead trustee must first create an Organisation Government Gateway login ID and password before they can access the Trust Registration Service (TRS).
The following types of Trusts must register even if they have no tax liability:
All UK Express Trusts (this includes Bare Trusts) — unless they are specifically excluded
Some non-UK Express Trusts, for example trusts that acquire land or property in the UK or have at least one trustee resident in the UK and enter into a ‘business relationship’ within the UK
Step 2
To register your Trust please use the HMRC Trust Registration Service (TRS) site. This records where the assets have come from to establish the Trust, who is responsible for managing the Trust, and who could benefit from it.
The lead trustee will receive the Trust’s Unique Taxpayer Reference (UTR) number if registering a taxable Trust or a unique reference number (URN) if registering a non-taxable Trust. It may take up to 15 days to receive a UTR.
FAQs
The name of the trust
The date the trust was created
Confirmation of whether the trust is an express trust
Details about whether a non-UK trust has a business relationship in the UK
Details about any UK land or property the trust has purchased
The lead trustee’s details (where they’re an individual rather than an organisation) including their name, date of birth, telephone number, country of residence and nationality, NI number and address if they’re a UK citizen, or passport details and address if they’re not a UK citizen
Details of the settlor/s and any beneficiaries
There are different deadlines depending on whether the Trust is taxable and what is its creation date:
| Trust category | Deadline for registering | Deadline for updating any changes to the Trust |
|---|---|---|
| Registerable Express Trusts ceasing to exist before 6 October 2020 | Not applicable | Not applicable |
| Registerable Express Trusts in existence on or after 6 October 2020 which were created or became registerable before 4 June 2022 | 1 September 2022 | Within 90 days of trustees becoming aware of a change |
| Registerable Express Trusts created or becoming registerable on or after 4 June 2022 | 90 days from the creation or becoming registerable | Within 90 days of trustees becoming aware of a change |
| Registerable Taxable Trusts created or becoming registerable as a taxable trust before 6 April 2021 with a first-time liability for Income or Capital Gains Tax | 5 October in the tax year after the tax year in which the trust first became liable to Income or Capital Gains Tax | Annually by 31 January if the trust has a UK tax liability in the preceding tax year |
| Registerable Taxable Trusts created or becoming registerable as a taxable trust before 6 April 2021 which are liable to tax other than Income or Capital Gains Tax | 31 January in the tax year after the tax year in which the trust became liable to tax | Annually by 31 January if the trust has a UK tax liability in the preceding tax year |
| Registerable Taxable Trusts created on or after 6 April 2021 | 90 days from the trust becoming liable for tax or 1 September 2022, whichever is later | Annually by 31 January if the trust has a UK tax liability in the preceding tax year |
Tax rules can change and depend on your personal circumstances. If you’re unsure on the course of action for your circumstances, please seek tax advice or speak to your solicitor.
HMRC could impose a fine if this is not completed. The register must also be updated when details change in the future, for example when trustees retire or are appointed.
These are some of the types of Express Trusts that are exempt from registering with the TRS, if they’re not a Taxable Trust, based on our understanding of current legislation and HMRC guidance. This list is not exhaustive but covers the most common types of exempt trusts:
Charitable Trusts registered as a charity in the UK or which are not required to register as a charity
Will Trusts, created by a person’s will and come into effect on their death, as long as the Will Trust holds the estate assets only for up to two years after the person’s death
Trusts holding insurance policy benefits received after the death of the person assured, as long as the benefits are paid out from the trust within two years of the death
Trusts for bereaved children under 18, or adults aged 18 to 25, set up under the will (or intestacy) of a deceased parent or the Criminal Injuries Compensation Scheme
Trusts used to hold life or retirement policies, providing that the policy pays out only on death, terminal or critical illness or permanent disablement, or to meet the healthcare costs of the person assured
The trustee is usually the account holder, and the settlor is the person/s who gifted the money into the trust (so could also be the trustee).
If you have any questions about the TRS or you’re unsure if this applies to you, we recommend contacting HMRC, your solicitor or a tax specialist. You can also find out more on the HMRC website.
Express Trusts – A Trust created purposely and usually formalised with a written deed or declaration of trust.
Bare Trusts – A type of Express Trust in which the money or investments are held in the name of the trustee and set aside to go to the intended beneficiary. The beneficiary has the right to all the capital and income of the Trust at any time once they turn 18 in England and Wales, or 16 in Scotland.
Statutory Trust – A trust created by legislation, for example when a person dies without making a valid will and the estate passes to their relatives under the intestacy rules. Statutory Trusts are not Express Trusts.
Taxable Trusts – Trusts in which the trustees are liable to pay one of the following taxes in relation to the UK assets or UK-sourced income of the trust: income tax, capital gains tax, inheritance tax, stamp duty land tax, stamp duty reserve tax, buildings transaction tax (in Scotland) and land transaction tax (in Wales).
Non-taxable Trusts – Trusts which have not incurred a liability to one of the above taxes in respect of the trust’s UK assets or UK-sourced income.