Trust Registration Service UK: Which Trusts Must Register, Deadlines, and Penalties (2026)
Since 1 September 2022, ALL UK express trusts must register with HMRC's Trust Registration Service — including life insurance trusts, bare trusts for children, and will trusts continuing beyond 2 years. The deadline is 90 days from creation.
| Trust Type | Must Register? | Registration Deadline | Notes |
|---|---|---|---|
| Discretionary trust (created in lifetime by deed) | YES | Within 90 days of creation; update within 90 days of change to trustees, beneficiaries, or assets | Register on HMRC TRS online service; lead trustee registers; all trustees' details required; all named and class of potential beneficiaries |
| IPDI trust / interest in possession trust (will trust) | YES — once beyond the 2-year estate administration period | Within 2 years of death + 90 days: if trust continues beyond 2yr post-death, register within 90 days of the 2yr anniversary | If IPDI winds up within 2yr of death: no registration required. If trust continues: register within 90 days of 2yr anniversary |
| Bare trust — named beneficiary (adult or child); separate trust deed | YES — if trust has UK tax consequences (most bare trusts have income tax consequences) OR is UK-resident | Within 90 days of creation | Co-ownership bare trusts (two people jointly buying a property — no separate trust deed, just a declaration of trust on the TR1) are EXCLUDED; separate bare trust deeds for children/grandchildren must register |
| Life insurance in trust (standard discretionary or bare trust) | YES — from 1 September 2022 (extended to non-taxable trusts) | Within 90 days of creation; if created before June 2022 and not yet registered: should have registered by 1 September 2022 | Most insurers sent notifications to clients in 2022 about TRS registration; standard insurer trust forms still require TRS registration by the trustees |
| Will trust — discretionary trust in will (post-2yr admin period) | YES — if continues beyond 2 years after death | 90 days after the 2yr anniversary of death | If all assets distributed within 2yr: no registration. Executors and trustees must identify whether the trust continues beyond 2yr |
| Pension scheme trust (registered occupational or personal pension) | NO — EXCLUDED | N/A | Registered pension schemes have their own HMRC registration (pension scheme tax registration). Self-Invested Personal Pensions (SIPPs): the SIPP wrapper itself is excluded; but if a SIPP trustee holds assets separately in an express trust, that separate trust may need registering |
| Charitable trust registered with Charity Commission | NO — EXCLUDED | N/A | All registered charities in England and Wales are excluded. Unregistered charitable trusts (below the £5,000 income registration threshold) may still be excluded if they meet the criteria |
| Pilot trust (assets under £100) | NO — EXCLUDED (typically) | N/A | Pilot trusts are created with a nominal sum (e.g., £10) and intended to be funded later; they were often used in NRB discretionary trust planning; most modern pilot trusts should be registered once funded |
TRS: HMRC Trust Registration Service. Legal basis: Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017); The Money Laundering and Terrorist Financing (Amendment) Regulations 2022 (extended to non-taxable trusts from 1 September 2022). Express trust: trust created by deed, written instrument, or will (not resulting/constructive trusts). Registration: online at gov.uk/trusts-taxes; Government Gateway account required; professional agent can register on behalf of trustees. Information required: trust name; date; settlor; trustees; beneficial owners (named beneficiaries + class of beneficiaries for discretionary trusts); protector (if any). Privacy: non-taxable trust beneficial ownership NOT publicly accessible — HMRC and law enforcement only. Taxable trust: certain professional users can access. Penalties: HMRC notice then £100-£5,000 per trustee for persistent non-compliance. All trustees jointly responsible. Update: 90 days of any change to trustees, beneficiaries, or assets. UTR issued by HMRC after registration. England, Wales, Scotland (OSCR registered charities excluded in Scotland). Northern Ireland: similar regime.
Trust Registration Service: Complete Guide
What is the Trust Registration Service and why does it exist?
HMRC's Trust Registration Service (TRS) is an online register of UK express trusts and some non-UK trusts with UK connections. It was introduced in 2017 in response to the EU's Fourth Anti-Money Laundering Directive (4AMLD), which required all EU member states to maintain beneficial ownership registers for trusts. After Brexit, the UK chose to maintain and expand its own TRS regime through the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017), as amended by the Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020 and the Money Laundering and Terrorist Financing (Amendment) Regulations 2022. The 2022 Regulations were the most significant expansion: from 1 September 2022, the TRS was extended to include ALL UK express trusts — not just trusts with UK tax obligations ('taxable trusts') but also 'non-taxable trusts' (trusts with no immediate UK tax liability, such as life insurance trusts holding policies with no surrender value). Who is responsible: the trustees of the trust are collectively responsible for TRS registration. The lead trustee (usually the first named trustee) carries out the registration. Professional trustees (solicitors, accountants, trust companies) typically handle TRS registration as part of their trust administration service. What information is registered: the name of the trust; the date of creation; the country of establishment; the trustees' details (name, date of birth, national insurance number); the settlor's details; the protector's details (if any); the details of all beneficial owners (named beneficiaries AND any class of potential beneficiaries in a discretionary trust).
Which trusts must register — and which are excluded
Must register: (1) All UK express trusts — trusts deliberately created by deed, written instrument, or will; (2) Non-UK trusts that have at least one UK-resident trustee and enter into a business relationship in the UK, or acquire UK land; (3) This includes: discretionary trusts (most common family planning trust); interest in possession trusts (including IPDIs / life interest trusts); bare trusts with separate trust deeds (not co-ownership arrangements); life insurance trusts (standard forms issued by insurers); most will trusts that continue beyond the 2-year estate administration period. Excluded trusts (no TRS registration required): (1) Pension scheme trusts — registered occupational pension schemes and personal pension schemes registered under Finance Act 2004 are excluded; (2) Charitable trusts registered with the Charity Commission (England and Wales), OSCR (Scotland), or HMRC Charities; (3) Pilot trusts with assets below £100 (once assets exceed £100, register within 90 days); (4) Co-ownership trusts — where two or more people jointly own property and hold it as 'tenants in common' (with a TR1/Land Registry form recording their beneficial ownership shares but no separate express trust deed): EXCLUDED from TRS. This is a very common situation for jointly owned property — the beneficial interests are registered at the Land Registry but there is no separate 'trust' that needs TRS registration. However: where the property is held in a SEPARATE bare trust deed (not just a Land Registry form), TRS registration is required; (5) Will trusts in the 2-year estate administration period — the deceased's estate is administered by the executor for up to 2 years post-death; if a will trust (discretionary or IPDI) is established but the assets are still being administered and distributed, no TRS registration is needed during the 2-year period; once the trust continues beyond 2 years, register within 90 days of the 2-year anniversary; (6) Certain financial product trusts — HMRC has guidance on specific excluded financial product structures.
Registration deadlines — 90 days from creation and the September 2022 backlog
Registration deadlines under the MLR 2017 (as amended): (1) Taxable trusts (trusts with UK tax to pay — IHT, income tax, CGT, SDLT, or SDRT): register within 90 days of creation, OR by 5 January following the end of the tax year in which the trust first incurs a UK tax liability — whichever is later. (2) Non-taxable trusts (express trusts with no UK tax liability): from 1 September 2022, these must also register; (a) trusts created AFTER 1 June 2022: register within 90 days of creation; (b) trusts in existence BEFORE 1 June 2022 and not previously registered: should have been registered by 1 September 2022. Many life insurance trusts, bare trusts for children, and other simple non-taxable trusts missed this deadline — HMRC initially took a soft approach to enforcement but is increasingly expecting compliance. (3) Will trusts: register within 90 days of the 2-year anniversary of death (if the trust continues beyond 2 years). (4) Updates to registered information: if any of the registered details change (trustee changes, beneficiary added/removed, significant change in trust assets), the trustees must update the TRS within 90 days of the change. Life events triggering an update: a trustee dies or retires; a new trustee is appointed; the trust adds a named beneficiary; the trustees acquire significant new assets. Annual confirmation: unlike company confirmation statements, TRS does not currently require annual confirmation statements for non-taxable trusts (taxable trusts may have annual HMRC obligations through their trust tax return, which links to the TRS).
What information is required for TRS registration
When registering a trust on the HMRC TRS online service, the lead trustee must provide: (1) Trust details: name of the trust; date of creation (deed date); country of establishment (UK); type of trust (discretionary, bare, interest in possession, etc.). (2) Settlor details: full name; date of birth; national insurance number (or passport/ID details for non-UK individuals); country of residence. (3) Trustee details: full name, date of birth, NI number, country of residence, and address for EACH trustee; the lead trustee (first to be registered) may be the main contact. (4) Beneficial owner details — this is the most complex part for discretionary trusts: (a) Named beneficiaries: provide full details for each named individual; (b) Class of potential beneficiaries: where the trust deed specifies a CLASS of beneficiaries (e.g., 'the children and remoter issue of [settlor]') rather than named individuals, the class description is registered — individual names are not always needed for all class members; (c) Protectors (if any); (d) Any other person who exercises significant influence or control over the trust. Privacy: for non-taxable trusts, beneficial ownership information is NOT publicly accessible — it is available only to HMRC and law enforcement agencies with appropriate authority. For taxable trusts: HMRC Trusts and Estates team has access; certain professional users and law enforcement can also access. How to register: the TRS registration is done online at HMRC's website (an agent (solicitor, accountant) can register on behalf of the trustees, or the lead trustee can create their own Government Gateway account); access the TRS registration service through gov.uk; create a Government Gateway ID if needed; follow the online registration process; once registered, HMRC issues a Unique Tax Reference (UTR) for the trust and a TRS registration number.
Penalties for non-registration and late updates
HMRC's approach to TRS non-compliance has evolved: initially (2022-2023), HMRC took a 'soft' enforcement approach — issuing reminders and guidance rather than penalties for the expanded non-taxable trust registration. From 2024 onwards, HMRC has moved to a more active enforcement stance. Penalty regime: (1) First failure: HMRC issues a notice requiring registration; no immediate financial penalty. (2) Persistent non-compliance: HMRC can impose a financial penalty; the level is set at the officer's discretion, typically £100-£5,000 per trustee for non-registration; multiple trustees each face separate penalties. (3) Serious or repeated breaches: higher penalties; referral for anti-money laundering investigation. The trustees are JOINTLY responsible for TRS registration — all trustees can face penalties, not just the lead trustee. However, in practice, a trustee who can show they delegated the obligation to a professional trustee or solicitor (and the professional failed to register) may have a reasonable excuse defence. Who is most at risk: (a) Life insurance trusts created by individuals in the 1990s-2010s that were not registered under the old 2017 regime and were overlooked for the 2022 expansion; (b) Family bare trusts for children established with a formal trust deed but not registered as trustees assumed the trust was 'too small' to need registration; (c) Discretionary will trusts that continued beyond 2 years after the deceased's death without the trustees being aware of the TRS requirement. Advisers: solicitors, accountants, and financial advisers who administer trusts have a professional obligation to ensure TRS compliance; many professional bodies (SRA, ICAEW, CIOT) have issued guidance on TRS as part of their MLR compliance obligations.
Frequently Asked Questions
Does my trust need to register with HMRC's Trust Registration Service?
Yes — if it is a UK express trust (a trust deliberately created by deed, written instrument, or will), it almost certainly needs to be registered with HMRC's Trust Registration Service (TRS) under the Money Laundering Regulations 2017 (as amended in 2022). Since 1 September 2022, ALL UK express trusts must register — not just those with UK tax liabilities. This includes: discretionary trusts, interest in possession trusts (IPDIs), bare trusts with separate trust deeds, life insurance trusts, and will trusts continuing beyond 2 years post-death. Excluded trusts include: registered pension schemes; registered charities; pilot trusts with assets under £100; co-ownership arrangements recorded on Land Registry forms (not a separate express trust deed); and will trusts within the 2-year administration period. If your trust was created before June 2022 and not already registered: it should have been registered by 1 September 2022. Contact a solicitor or accountant who can register on your behalf via the HMRC TRS online service.
When is the deadline to register a trust with HMRC?
The deadline depends on when the trust was created and whether it has UK tax obligations: (1) Trusts created AFTER 1 June 2022: register within 90 days of creation. (2) Taxable trusts (trusts with UK tax to pay — income tax, IHT, CGT): register within 90 days of creation, OR by 5 January following the end of the tax year in which the first tax liability arises. (3) Non-taxable trusts created BEFORE 1 June 2022: should have been registered by 1 September 2022; if not yet registered, register immediately. (4) Will trusts: no registration required during the first 2 years of estate administration; once the trust continues beyond 2 years, register within 90 days of the 2-year anniversary. (5) Updates to existing registrations: any change to trustees, beneficiaries, or significant trust assets must be updated on the TRS within 90 days of the change. The lead trustee is responsible for completing the registration through the HMRC online TRS service (gov.uk).
Does a life insurance trust need to be registered with HMRC?
Yes — in almost all cases. Since 1 September 2022, life insurance trusts (including standard discretionary and bare trust forms provided by insurance companies) must be registered with HMRC's Trust Registration Service. This applies even if the trust is 'non-taxable' (the policy is in force with no surrender value — so no periodic IHT charges apply). Most insurance companies sent notifications to their clients in 2022 about the TRS requirement. The trustees of the life insurance trust (usually the settlor/policyholder and/or named additional trustees) are responsible for TRS registration. If the trust was created before June 2022 and not yet registered: it should have been registered by 1 September 2022 and should be registered now to avoid HMRC penalties. Only excluded if: the trust meets a specific exemption (e.g., employer's group life scheme in a registered pension scheme — excluded as a pension trust; certain financial product exclusions under HMRC guidance).
Is a joint property co-ownership arrangement a trust that needs to register?
No — in most cases. Where two (or more) people jointly purchase a property and record their beneficial ownership shares on the Land Registry (using a Form A restriction and/or a declaration of trust recording the shares), this is treated as a co-ownership arrangement — NOT a separate express trust requiring TRS registration. HMRC's guidance explicitly excludes 'trusts imposed by statute or legislation that create or recognise a co-ownership arrangement' from TRS registration. The Form A restriction at the Land Registry records the beneficial interests but is not itself a 'trust instrument' creating a new trust. However: if the co-owners have created a SEPARATE formal trust deed (beyond the Land Registry registration) to govern how the property is held, managed, and eventually distributed — with detailed terms about what happens on death, sale, or other events — that separate trust deed may require TRS registration. When in doubt: take legal advice from a solicitor who can review the specific documentation and advise on TRS obligations.
What are the penalties for not registering a trust with HMRC?
HMRC's penalty approach for TRS non-compliance has become more active from 2024 onwards. The initial response to non-registration is usually a notice requiring registration — no immediate financial penalty. For persistent non-compliance: HMRC can impose financial penalties typically in the range of £100 to £5,000 per trustee (each trustee faces a separate penalty). All trustees are jointly responsible for TRS registration — it is not only the lead trustee's obligation. Higher penalties apply for serious or repeated breaches. HMRC can also refer cases for anti-money laundering investigation. Mitigation: a trustee who delegated registration to a professional (solicitor, accountant) who failed to register may have a 'reasonable excuse' defence, but this does not eliminate the obligation. The safest approach is to register promptly — TRS registration is an online process (gov.uk) that can be completed by the lead trustee or a professional authorised agent.
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