TRSM26040 - Types of trust that need to be registered: contents: further considerations for registrable taxable trusts: contents: statutory trusts

A statutory trust is set up automatically under the terms of legislation. For example, the laws of intestacy in England and Wales provide for assets to be held in trust where the deceased dies without a will and leaves a surviving spouse or civil partner and children.

Statutory trusts are not express trusts and therefore are not caught for registration under the legislation. However, the Trust Registration Service (TRS) is used to register a trust for tax reporting purposes. Statutory trusts that incur a UK tax liability should therefore register on TRS for this purpose but are not required to keep the information on the register up to date and are not subject to the third party access provisions set out at TRSM60000.