The HMRC Trust Registration Service (TRS) is an online register maintained by HM Revenue & Customs (HMRC). It was originally introduced to comply with anti-money laundering regulations, but it has a much broader scope and affects many UK express trusts – even those with no tax liability.
If you are a trustee, understanding your obligations under the TRS is essential. Failure to register (or to keep the register up to date) could potentially result in HMRC raising penalties for non-compliance.
This article explains who needs to register, what information is required, key deadlines, and how we can help.
What is the Trust Registration Service?
The TRS is an online platform where trustees must provide details about a trust and the individuals connected to it. The service forms part of the UK’s compliance framework under the Fifth Money Laundering Regulations and is designed to improve transparency around beneficial ownership of assets.
Importantly, the TRS is not limited to taxable trusts. Many non-taxable trusts must also register unless an exemption applies.
Which trusts must register?
1. Taxable Trusts
Trusts must register if they have a UK tax liability, including:
- Capital Gains Tax
- Income Tax
- Inheritance Tax
- Stamp Duty Land Tax
- Stamp Duty Reserve Tax
- Land and Buildings Transaction Tax (in Scotland)
- Land Transaction Tax (in Wales)
Registration is required even if the tax liability arises only once.
2. Non-taxable UK express trusts
Many express trusts (those deliberately created by a settlor, usually in writing) must register even if they do not owe tax. Common examples include:
- Family trusts holding property or investments
- Trusts created by deed for asset protection or succession planning
3. Non-UK trusts
Certain non-UK trusts must register if they acquire UK land or property, or if they have at least one UK trustee and enter into a business relationship within the UK.
Are there any exemptions?
Yes. There are exemptions under “Schedule 3A” confirming that not all trusts require registration. These are known as “Schedule 3A Trusts” or “excluded express trusts”. Common exemptions include:
- A statutory trust created by a court order or by law such as intestacy on death
- Trusts created by a person’s will that are wound up within two years of death
- A co-ownership trust set up to hold shares of property or other assets jointly owned by 2 or more people as ‘tenants in common’. The key element being that the legal owners of the property must be the same as the beneficial owners of the property i.e. who would receive the sale proceeds if the property was sold.
However, the exemptions are technical and fact-specific. It is important to review the trust structure carefully before concluding that registration is not required and importantly making a note why it is believed that the trust does not require registration. This then must be kept under review. If the trust’s circumstances, then change meaning that the exemption no longer applies then registration will then be needed.
A current example is a property can be held by a couple for themselves as tenants in common in equal shares. This type of trust would not be subject to TRS registration.
However, in the event that one of the co-owners should pass away, the property is then only being held by the survivor for the benefit of themselves and the estate of the deceased owner. This means that the legal owner of the property is no longer the same as the beneficial owners of the property and the trust of the property should then be registered with TRS.
What information must be provided?
Trustees must supply detailed information about:
- The trust (name, date of creation, type of trust)
- The settlor(s)
- The trustees
- The beneficiaries (or classes of beneficiaries)
- Any individual exercising control over the trust
- Trust assets (for taxable trusts)
Personal information typically includes full name, date of birth, country of residence, nationality, and National Insurance number or passport details. The lead trustee is responsible for ensuring the information is accurate and up to date.
Deadlines for registration
Taxable Trusts
The registration deadline will depend on when the trust was created, what tax the trust is liable for and if the trust has been liable for Income Tax or Capital Gains Tax in the past.
Trusts created before 6 April 2021 and are liable for Income Tax or Capital Gains Tax for the first time should be registered on or before 5 October in the tax year after the one in which the trust both starts to receive any income or has capital gains and becomes liable for Income Tax or Capital Gains Tax.
Trusts that have been liable for Income Tax or Capital Gains Tax before should be registered on or before 31 January in the tax year after the one in which the trust both receives any income or has capital gains and is liable for tax.
Trusts liable for other tax should be registered on or before 31 January in the tax year after the one in which your trust has any other tax liability, such as Inheritance Tax.
Non-Taxable Trusts
Non-taxable trusts must register within 90 days of creation (if required to register).
Trustees must also update the TRS within 90 days of any changes to the trust details, such as:
- Appointment or retirement of a trustee
- Addition or removal of beneficiaries
- Changes to personal details
- Closure of the trust
Failure to meet deadlines could potential result in financial penalties.
What happens if you fail to register?
HMRC has the power to impose a fixed penalty of £5,000 for non-compliance if a trust is not registered or the information on the register is not kept up to date within a given time limit. Penalty charges will be raised on a case-by-case basis.
Non-registration can also cause practical problems, including delays in property transactions or difficulties when dealing with banks and financial institutions, which may require proof of TRS registration as part of their compliance checks.
Access to trust information
The TRS is not a fully public register. However, certain third parties (such as law enforcement authorities) with a “legitimate interest” can access the information.
Trustees should therefore assume that information submitted to the TRS is subject to regulatory scrutiny.
Practical steps for trustees
If you are involved with a trust, you should:
- Review whether the trust falls within the TRS rules
- Identify who is responsible for registration (usually the lead trustee)
- Gather all required personal and trust information
- Register within the applicable deadline
- Implement a system to monitor and report changes within 90 days
Trustees can register trusts themselves. However, trustees should consider taking professional advice to ensure that they are carrying out their reporting obligations correctly.
How Pinney Talfourd can help
Trust law and tax compliance are closely connected. We regularly assist clients with:
- Determining whether a trust must register
- Completing TRS registration accurately and efficiently
- Advising on trustee duties and potential liabilities
- Reviewing existing trust structures for compliance
- Ongoing administration and updating obligations
Early advice can prevent costly mistakes and ensure trustees fulfil their legal responsibilities with confidence.
Final thoughts
The HMRC Trust Registration Service represents a significant shift toward transparency and regulatory oversight. Even trusts with no tax liability may be caught by the rules.
If you are a trustee and are unsure whether your trust needs to register or whether it has been properly maintained – seeking legal advice is a prudent step.
For tailored guidance on your specific trust and compliance obligations, please contact our trust team.
More information
Feel free to contact our marketing team on 01708 229 444 or email