Trust registration service (TRS)

Produced by a Tolley Trusts and Inheritance Tax expert

Trusts and Inheritance Tax

Guidance

This guidance note explains the trust registration service (TRS) and which trusts must be registered on it including the exceptions to the general rule for taxable trusts. It discusses what information needs to be provided and when it needs to be provided by. It considers who can access the register and the penalties that HMRC will apply for non-compliance with the regime. It discusses the mechanics of registration and what to do if a reporting discrepancy is discovered. It also briefly discusses other UK reporting regimes with which trustees may need to comply.

Background to the trust registration service

HMRC’s online trust registration service (TRS) fulfils the UK’s obligations under the EU’s Fourth Anti-Money Laundering Directive (4MLD) and Fifth Anti-Money Laundering Directive (5MLD).

HMRC has provided detailed guidance on registration and this can be found in the Trust Registration Manual.

Which trusts need to register?

UK trusts

All UK trusts which have a liability to pay any of the relevant UK taxes (income tax, CGT, IHT, SDLT (or the Scottish or Welsh equivalents)

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