Blog | Trustee Support Services

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…

Trust registration

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…