TRSM10010 - Introduction to the Trust Registration Service: contents: who is this manual for

The Trust Registration Service manual is for staff who administer the Trust Registration Service (TRS). The manual provides guidance on obligations towards TRS that may also be of interest to the following individuals or organisations if they are involved with trusts or estates within the United Kingdom or with links to the United Kingdom:

Trustees of UK based trusts

Most types of UK based trusts are required to register. This guidance sets out when a trustee is required to register the trust on TRS.

Non-UK trusts are required to register if they have links to the UK, such as having a UK tax liability, having or acquiring certain assets in the UK, or entering into a business relationship in the UK. This guidance sets out when a trustee needs to register a non-UK trust on TRS.

Personal representatives of large estates or of estates with UK tax liabilities

If the estate has assets or a tax liability above a certain level, personal representatives will need to register the estate to obtain a Unique Taxpayer Reference (UTR) to complete a tax return for the estate.

Agents acting on behalf of trustees or personal representatives

This guidance sets out the responsibilities of agents when acting on behalf of others in respect of TRS.

UK professionals and organisations who are defined as ‘relevant persons’ under the Money Laundering Regulations

Organisations who are classed as ‘Relevant Persons’ under the Money Laundering Regulations have certain obligations under those regulations when entering into business relationships with trusts required to register on TRS.

Third parties interested in obtaining information held on the register (via legitimate interest / third country requests)

From the data sharing commencement date in 2022, information on the beneficial ownership of a trust may be provided in certain instances, typically where the requester has a legitimate interest to access the information and is carrying out an investigation into a specific instance of money laundering or terrorist financing.