Trust Registration with TRS and HMRC

The Trust Registration Service (TRS) is an HMRC-maintained register that now applies to most trusts, both taxable and non-taxable. We offer expert advice to ensure your trust complies with registration requirements.

Key Contact: Andrew Hasnip

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How We Can Help

Navigating TRS requirements is essential for trustees to ensure full legal compliance. Here’s how we support you:

TRS Overview: Initially designed to track taxable trusts, the TRS now includes a wide range of trusts, both taxable and non-taxable, following the implementation of the Fifth Anti-Money Laundering Directive.
Trust Registration Deadline: Most non-taxable trusts had to be registered on the TRS by 1 September 2022, or within 90 days of their creation if formed after this date.
Excluded Trusts: Some types of trusts are exempt from registration. These include:
- Trusts for bereaved minors
- 18-25 trusts
- Statutory trusts imposed by legislation
- Trusts holding life insurance policies that only pay out on death
- Property ownership trusts where the legal and beneficial titles are held by the same people
- Charitable trusts
- Trusts for the benefit of a disabled person
- Pilot trusts created before 6 October 2020

Information Requirements: For taxable trusts, the TRS requires detailed information about the settlor, trustees, beneficiaries, and the assets held in trust.

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Why Choose Us

Our team of experts ensures that your trust registration process is handled efficiently and in compliance with current regulations:

Maintaining Trust Records: If a trust begins as non-taxable but incurs an income tax or capital gains tax liability during its administration, we will update the TRS to reflect the change in the trust’s status.
Ongoing Compliance: For taxable trusts, trustees must ensure that the information on the TRS is updated every 12 months. We provide guidance to help you stay compliant with these ongoing requirements.
Tailored Compliance Support: We work with clients to understand their trust structures and help them meet their TRS obligations efficiently.
Comprehensive Trust Administration: Whether your trust is taxable or non-taxable, we help you navigate the complexities of trust registration and reporting, ensuring your responsibilities as trustees are fulfilled.

Let us handle the complexities of trust registration and administration, ensuring that your trust complies with all HMRC requirements while protecting its assets and beneficiaries.