HMRC’s Trust Registration Service (TRS) was set up in 2017 as part of an EU anti-money laundering directive. All UK express trusts liable to pay UK tax were required to register.
In October 2020 a new legislation was introduced to capture all trusts, regardless of whether they have a UK tax liability. Non-UK trusts will also be required to register if they have UK tax liabilities.
With our extensive knowledge of trusts, we can analyse any arrangements you have made or wish to make and determine whether registration is necessary. We can act as your agent to undertake the registration process to ensure you meet all your compliance requirements.