HMRC Trust Registration Service (TRS)

My downloadable guide provides help for all Lead Trustees on registering trusts under HMRC’s Trust Registration Service (TRS) and introduces my online services.

The guide is designed for common trust types used in financial planning and highlights key compliance requirements following the 5th EU Anti-Money Laundering Directive.

What Is the HMRC Trust Registration Service (TRS)?

  • All UK “Express Trusts” (written trusts) must register via TRS since 6 October 2020.
  • Registration applies even if the trust is non-taxable, with limited exemptions (e.g., certain life policy trusts, pilot trusts under £100, co-ownership trusts, bereaved minors’ trusts and Personal Injury Trusts).
  • Failure to register can result in penalties up to £5,000.

Which Trusts Must Register Under TRS?

  • New trusts: Register within 90 days of creation.
  • Existing trusts: Those created before 6 October 2020 should have registered by 1 September 2022. If you haven’t registered yet don’t delay; there’s an unofficial amnesty with no fines being levied, but that won’t last!

TRS Tax Considerations

  • Trusts may be taxable depending on type and assets:
    • Bare Trusts: Income/gains taxed on beneficiary.
    • Interest in Possession Trusts: Taxable if income is accumulated.
    • Discretionary Trusts: Taxable on trustees if settlor deceased.
  • Relevant taxes include Income Tax, Capital Gains Tax, Inheritance Tax, Stamp Duty Land Tax, and Stamp Duty Reserve Tax.

Information Required for TRS

  • Trust details: Name, creation date, property details, Trust Deed.
  • Individuals: Settlor(s), trustee()s, beneficiaries, protectors—full personal details including NI numbers for settlor(s) and lead trustee.
  • Corporate entities: UTR, address, contact details.

How Trustees can be TRS compliant

  • Create a Government Gateway account (separate for each trust).
  • Complete TRS online form, including tax status and all required details.
  • Obtain and maintain a Certificate of Registration, dated within 30 days for financial institutions.

Beyond TRS

Irish Trust Registration and AEIO
  • EU Registration Trusts with Irish-issued life assurance bonds must also register in Ireland.
  • Automatic Exchange of Information (AEIO) Trust using a Discretionary Fund Manager are now (from 2025) required to additional register under this legislation.
  • Legal Entity Identifier (LEI) required for trusts using discretionary fund managers with direct equities or ETFs.

TRS and other support provided

I help with TRS registration, Irish trust registration, AEIO, and related trust planning services.

Download the HMRC TRS Registration Guide

For more information on Trusts and my Trust Administration services -see the Trust page.

Let’s talk

If you need some help or advice, please contact me by phone, WhatsApp, email, or through the online enquiry form below (your contact details will not be stored or used for any purpose other than replying to your enquiry).

Any initial consultation is at your convenience, my expense, and without obligation.