Blog - Trustee Support Services

Trust registration

Less than 4 months to go for registering a trust

May Day marked 4 months to go to the deadline for existing express trusts to register on the Trust Registration Service (TRS) within the deadline of 1 September 2022, so there are now less than 4 months left for trustees to act. Trustees of new trusts created before 3 June 2022 that require registration should register their trust by the same date. Trustees of trusts created after 2 June 2022 that require registration should register Read more…

TRS Manual

Further amendments to the Trust Registration Service during April 2022

Further amendments to the Trust Registration Service during April 2022 HMRC published further amendments to the Trust Registration Service (TRS) Manual on 14 April 2022. These updates included: Clarification that an express trust that was in existence on or after 6 October 2020 but which has subsequently been closed requires to be registered on the TRS unless it was an excluded trust. Once registered, the trust’s details should then be updated to mark it as Read more…

Trust registration

Less than 5 months to go to register trusts

Less than 5 months to go to register trusts The clock is continuing to tick down towards the deadline of 1 September 2022 for trustees of existing express trusts to have registered their trust on the Trust Registration Service. Trustees of new trusts have a deadline of 1 September 2022 or 90 days from the date of creation of the trust, if later, to register their trust. Those that fail to register their trust by Read more…

TRS Manual

More updates to the Trust Registration Service Manual

HMRC published a further set of updates to the Trust Registration Service (TRS) Manual on 18 March 2022. This blog summarises these new updates. Each section’s title is a link to the relevant page. Trusts created by a will Further examples have been added to show when trusts created by a will may be required to register on the TRS (generally, a trust created by a will is not required to register unless assets remain Read more…

Trust registration

What happens if I don’t register a trust on the TRS?

What happens if I don’t register a trust on the TRS? Trustees of trusts that require registration on the Trust Registration Service (TRS) have a deadline to register the trust by 1 September 2022 (or within 90 days of creation of the trust, if later, so relevant for trusts created after 2 June 2022). HMRC has indicated that it will not automatically charge penalties if a trust is not registered and will take a pragmatic Read more…

Trust registration

Halfway point for registration of trusts on HMRC’s Trust Registration Service (TRS).

Halfway point for registration of trusts on HMRC’s Trust Registration Service (TRS). Today, 28 February 2022, marks the halfway point for registration of trusts on HMRC’s Trust Registration Service (TRS). New rules introduced on 1 September 2021 gave until 1 September 2022 for all UK express trusts (and some non-UK express trusts) to be registered on the TRS unless the trust qualifies as an excluded trust. It is the trustees’ responsibility to register their trust(s), Read more…

Trust registration

Should I register my trust myself, or is it better to use an agent?

Should I register my trust myself, or is it better to use an agent? The bottom line is that it is the responsibility of trustees to register their trust(s) on the Trust Registration Service (TRS) within the deadlines that apply, which are by 1 September 2022 or within 90 days of the trust’s creation, whichever is the later. Whilst Trustee Support Services is happy to work with trustees and their advisers, and to register trusts Read more…

Trust registration

Do pilot trusts (including spousal bypass trusts) need to be registered on the TRS?

Do pilot trusts (including spousal bypass trusts) need to be registered on the TRS? We are aware that there may be some confusion as to whether pilot trusts (including spousal bypass trusts used to accept pension and death-in-service scheme death benefits) require registration on the Trust Registration Service (TRS), especially where no further assets have been added to the trust. To start, it is worth looking at the fundamental requirement that a valid trust must Read more…

TRS Manual

HMRC updated the TRS Manual during December 2021

HMRC updated the TRS Manual during December 2021 New rules that came into force from 1 September 2021 that mean that most trusts (unless excluded) now need to be registered on HMRC’s Trust Registration Service (TRS). Registration should be completed by 1 September 2022 or within 90 days of the trust’s creation, if later. HMRC made several updates to the TRS Manual during December 2021. Details of the sections updated in the manual are available Read more…

Trust registration

Do I need to register my trust?

Do I need to register my trust? Trustees of most UK trusts and some non-UK trusts now need to register their trusts on HMRC’s Trust Registration Service (TRS), following the introduction of new rules that took effect on 1st September 2021. A deadline applies meaning that a trust requiring registration must be registered by 1st September 2022 or within 90 days of the trust’s creation, whichever is the later. Trustees that fail to register a Read more…