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Important change in government legislation with regards to Trusts.

There has been a change in government legislation, which may have a relevant effect for many Trusts. Previously, the government only required Trusts with tax liabilities to be registered with HMRC. However, more Trusts will now need to register via the Trust Registration Service, irrespective of tax liability.

Trustees are responsible for registration which can be done using the HMRC online portal, found here: Relevant existing Trusts must register by 1 September 2022 or face potential HMRC fines. Trustees will also need to update the online register with future changes, including if Trusts close.

Individuals linked to the Trust and resident outside of the UK may also need to meet local Trust registration requirements. Comprehensive HMRC guidance on when, how and who should register is at:

In September, the Trust Registration Service (TRS) finally opened for the registration of non-taxable trusts. As a quick recap, the regulations were brought into effect in order to comply with a change in the anti-money laundering regulations. This means most UK express trusts (created by an individual) are now required to register the details of their beneficial owners (i.e their settlor(s), trustees and beneficiaries).

Ensuring the accuracy and currency of trust records on the Trust Registration Service (TRS) is paramount, particularly in light of regulatory changes implemented since 2022. Updates are now mandatory whenever there are alterations to beneficial ownership details, including changes in trustees or beneficiaries. This requirement underscores the importance of maintaining meticulous records to reflect the evolving landscape of trust arrangements accurately.

Furthermore, the consequences of non-compliance with registration and annual declaration deadlines are significant. HM Revenue & Customs (HMRC) may impose penalties for late registration or submission of annual declarations. These penalties can lead to financial repercussions, underscoring the urgency of timely compliance with regulatory obligations.

While trustees have the option to register trusts independently through the HMRC online portal, the process can be complex and time-consuming. For those facing challenges in registering trusts, Complete Estate Protection offers a specialised Trust Registration service. Our experienced team ensures seamless compliance with government regulations, alleviating the burden of administrative tasks and mitigating the risk of penalties. With our comprehensive support, trustees can navigate the intricacies of trust registration with confidence, knowing that their obligations are met efficiently and accurately.

If you would like us to register the Trust on your behalf, please contact us on 01642 493101 or email