Trust Registration Services: Changes and Declaration

Trust Registration Services: Changes and Declaration

There is a requirement for certain trusts to register with HMRC and to keep the trust’s details updated. While this register is not publicly available, information contained on the register is accessible to those who can demonstrate a legitimate interest.

What is required?

Trustees of registrable trusts have a responsibility to inform HMRC of any changes of information in relation to:

• Trustees,
• Beneficiaries,
• Settlors,
• Other individuals or organisations involved with the trust.

The changes must be registered with HMRC within 90 days of the change taking place.

The details of trust assets are only provided once at the first point of registration, and if this changes over time, they do not need to be updated on the Trust Registration Service (TRS). Separate from TRS, trustees will need to provide details of additions to trust assets as part of their annual tax return where relevant.

Taxable trusts

Any trust which has a tax charge in the UK is required to make an annual declaration on the TRS that the trust register is up to date. This must be made by 31st January following each tax year.

If the trust is liable to Income Tax or Capital Gains Tax, confirmation that this declaration has been made also needs to be included on the trust’s annual tax return.

How to make changes

The online service must be used to make the required annual declaration and updates.

Go to the HMRC Trust Registration Service and log in using the Organisation Government Gateway user ID and password that you used when you registered the trust.   If you did not obtain a user ID, then you can obtain a user ID by taking the “create sign in details” route.   A separate user ID is needed for each. Once logged in, select the trust you want to update.

Authorising an agent

Trustees can authorise agents to manage trust details using HMRC’s ‘digital handshake’. Please get in touch if you would like us to maintain the trust register on your behalf as agents.