Trust Registration with HMRC

If you're a trustee, or you administer or benefit from a trust, you will now need to register the Trust with UK Trusts Register with HMRC.

HM Revenue and Customs (HMRC) have recently changed their trust registration requirements. This means that many trusts which previously did not require a formal registration with HMRC now need to be registered.

How to Register a Trust?

Trustees or their agents can register a trust using the UK ‘Government Gateway’ facility after setting up a Government Gateway account online.

Leeds Day are now offering a trust registration service, whereby we will assist trustees in formally registering existing trusts with HMRC. If you are in any way unsure as to whether your trust requires registration, we will be happy to review the position for you, and advise whether you ought to register the trust.

What is needed to register a trust? The following information is required to register a trust with the HMRC Trust Registration Service: • Name of the trust • Date the trust was created • Whether the trust is taxable or non-taxable • Details about any UK land or property the trust has created • Details of any business relationship in the UK (if a non-UK trust) You must also provide details of the following people to the HMRC Trust Registration Service: • The lead trustee • The lead trustees National

Insurance number • The co-trustees • The settlor • The beneficiaries

The deadline for registration of existing trusts was the 1st of September 2022, which has now passed. HMRC are, however, currently operating a grace period in which they will not issue fines for late registration of non-taxable trusts, but they have not confirmed how long this grace period will be in place for.

Trust documents can be confusing at the best of times, so if you are unsure as to whether your trust needs to be registered, or if you are unsure whether or not you are classed as a trustee, take some advice to ensure that you are not falling foul of HMRC’s new legislation.

We offer a personal, friendly and sympathetic approach, to assist you in planning and managing your affairs most effectively in a wide range of situations. If you need any advice in relation to any will, estate planning or bereavement matter then please contact Leeds Day on 0844 567 2222 or email wills@leedsday.co.uk.

Huntingdon Godwin House, George Street, Huntingdon, PE29 3BD T: 01480 454301 St. Ives 11 Station Road, St. Ives, Cambridgeshire PE27 5BH T: 01480 464600 St. Neots Xenus House, Sandpiper Court, Eaton Socon, St. Neots PE19 8EP T: 01480 474661