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…

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…

An introduction to the Trust Registration Service

An introduction to the Trust Registration Service New rules came into effect on 1 September 2021 that widened the scope of HMRC’s Trust Registration Service (TRS) and mean that most express trusts (a trust created deliberately by a settlor, either during lifetime or on death) now need to be registered. This includes both existing and new trusts. The rules also formalise the trustees’ general duty to keep and maintain an up-to-date written record of the Read more…