Registering a non-taxable trust with HMRC

HMRC have asked us to share the following information with our members regarding the Trust Registration Service to help raise awareness of the need for non-taxable trusts to register their details with HMRC.

While the service is not yet open for non-taxable, express trusts to register there is an opportunity for trustees of such trusts to take part in the development period and details of how to volunteer are included below. 

"Background

New rules which came into force in October 2020, require all UK express trusts to register with HMRC. This includes non-taxable trusts, unless the trust is specifically excluded. You can read more about this at: www.gov.uk/guidance/trust-registration-extension-an-overview

You can find out more about registering a trust as an agent at: www.gov.uk/guidance/register-your-clients-trust

These changes are as a result of the UK’s implementation of the Fifth Money Laundering Directive (5MLD) and amendments to the Money Laundering and Terrorist Financing Regulations viewable at: www.gov.uk/eu-withdrawal-act-2018-statutory-instruments/the-money-laundering-and-terrorist-financing-amendment-eu-exit-regulations-2020

There are also wider links to Trusts and Estates information available at: www.gov.uk/topic/personal-tax/trusts.

Registrations

Non-taxable trusts will need to register through the Trust Registration Service on GOV.UK.

The service is not yet able to accept registrations of non-taxable trusts, but HMRC expect the service to be available for all non-taxable trust registrations in Summer 2021.

Non-taxable trusts will have approximately 12 months to register from the date the Trust Registration Service is made available to all non-taxable trusts.

Supporting the development of the Trust Registration Service

To help HMRC to develop the Trust Registration Service for non-taxable trusts, we’d like to speak to trustees who are interested in working with us to:

  • register their non-taxable trusts
  • and provide feedback to help us develop the service

If you have a non-taxable trust and would like to participate in this initial registration development period, please contact service_team17.digital_ddcn [at] digital.hmrc.gov.uk. Your request will be logged and we will be in contact with an invitation.

If you have any queries about non-taxable trust registrations that are not covered on GOV.UK please email trsnontaxabletrustsqueries [at] hmrc.gov.uk." 

If any members are able to take part in the trial of the extended TRS service we would be keen to hear how you found the process. Please let us know at atttechnical [at] att.org.uk

 

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