The UK Trust Registration Service (TRS) has been in force in its expanded form since 2022, but compliance remains patchy. HMRC is now actively cross-checking TRS data against Land Registry records, bank account openings and Self Assessment returns, and has begun issuing penalties of up to £5,000 per failure for serious non-compliance. If you are a trustee — even of a small family trust or a property "bare trust" — this affects you.
Which trusts must register?
Before the 2022 expansion, only trusts with a UK tax liability had to register. The current rules are broader. You must register if your trust is:
- Express trusts: any trust deliberately created (whether or not in writing), regardless of tax position.
- UK-resident trusts: most trusts with UK trustees.
- Non-UK trusts: if they acquire UK land, have a UK business relationship, or have UK-resident beneficiaries entitled to a fixed share.
Specific exclusions exist for pension trusts, charitable trusts, bereaved minor trusts, will trusts within two years of death, and certain pure protection life insurance trusts. The full exclusion list is long; check carefully before assuming an exemption applies.
The common surprises
Several types of arrangement that ordinary people do not think of as "trusts" fall within TRS:
- Property held in joint names with declaration of trust: e.g. a property held 70/30 between spouses for tax reasons.
- Property bought in one partner's name but funded by both: an implied trust can arise that should be formalised and registered.
- Children's bank accounts: where parent holds funds for a child, depending on size and intent.
- Director loan account or employee benefit trusts: even small EBTs.
- Asset protection trusts and "family investment companies" with a trust layer.
- Pilot trusts created for inheritance tax planning.
What you have to register
The TRS captures, broadly:
- Identity details of the settlor, trustees, beneficiaries, and any other natural persons or legal entities exercising effective control over the trust.
- The date the trust was established.
- Details of the trust assets (description and approximate value).
- Whether the trust is express, taxable, or has a business relationship.
- For tax-paying trusts: ongoing tax position annually.
The register is partially accessible to law enforcement, regulated professionals carrying out customer due diligence, and (in limited circumstances) those who can demonstrate "legitimate interest".
Deadlines and updating
- Non-taxable express trusts in existence on 6 October 2020 must already be on the register.
- New non-taxable express trusts must be registered within 90 days of creation.
- Taxable trusts must be registered by 5 October following the tax year in which they first incurred a liability, or by 31 January if a Self Assessment return is required.
- Any change of trustees, beneficiaries (where named), or other registered details must be notified within 90 days.
- An annual confirmation that registered details remain correct must be made via the TRS each year, at the same time as filing the trust's tax return (or by 31 January if non-taxable).
Penalties
Until recently, HMRC's tone on TRS penalties was lenient — fixed £100 charges with educational follow-up. That has hardened. The current scale:
- Late registration: nil penalty for first offence if remedial action is prompt.
- Failure to update within 90 days: £100, escalating with daily penalties up to £900 for serious or deliberate failures.
- Deliberate non-registration: penalty of up to £5,000 per trust, plus criminal liability for trustees in extreme cases.
Practical compliance steps
- Map every arrangement that might be a trust. Property, family loans, life policies, EBTs.
- Check the exclusions carefully before assuming TRS does not apply.
- Gather identity data: full names, dates of birth, NI numbers (if UK resident), passport details (if not), addresses for all settlors, trustees, and named beneficiaries.
- Register on the TRS portal via your Government Gateway. The process can take 60 to 90 minutes for a straightforward family trust.
- Calendar the annual confirmation alongside the trust's tax return.
- Document the chain: keep copies of the trust deed, supplemental deeds, deeds of appointment, and any letters of wishes.
Interaction with other compliance regimes
TRS data is increasingly used in customer due diligence. A trust without a TRS reference will struggle to open a bank account or buy property in 2026, because regulated professionals are required to verify the registration. The TRS is also exchanged with overseas authorities under EU and OECD frameworks where applicable.
If you are unsure whether an arrangement is registrable, or you know you should have registered and have not, get advice before HMRC's annual cross-check finds you. Book a 30-minute trust review with PushDigits, or contact our team via the contact page. We integrate TRS work with broader tax planning and family business advisory, so the trust sits within a coherent overall structure rather than being a standalone compliance burden. More background on related topics in our HMRC insights library.