Are you a Trustee of an existing Trust?

Have you registered the Trust?

Unsure of what is involved?

We are here to help.

Whether you are a trustee of an existing Trust, in the process of creating one, or seeking guidance for the future, our specialist team can offer advice, support in meeting the TRS obligations or carry out the complete registration on your behalf.

What is the Trust Registration Service?

Created in 2017, the Trust Registration Service (TRS) ensured that people who owned assets held in Trusts paid the correct amount of tax. The UK Government introduced the trust register to improve compliance with anti-money laundering regulations and improve the clarity surrounding national tax liabilities.

Last year new legislation came into effect. This legislation requires trustees in the UK to register their Trust on the HMRC Trust Registration Service before 1st September 2022.

For Trusts created after 1st September 2022, Trustees have 90 days to register.

Under the legislation, a broad range of trusts are included:

• Non-UK trustees who hold land on bare trust (the trustees have the land on behalf of someone else, for example, a child).
• Non-UK trustees if at least one trustee is a UK resident and where the trustees enter into a business relationship with a UK service provider, for example, a solicitor, financial adviser, accountant or investment manager.
• Assets held on behalf of another person.
• Property held by one person on their behalf and another person, for example, a marital property registered in the husband’s name but belonging to both parties.

Uncertain whether your Trust should be registered? You can try our questionnaire or download our document below.