TRSM40010 - Deadlines: contents: introduction

This section sets out the deadlines for registration and updating information held on the Trust Registration Service (TRS).

Registration Deadlines

Non-taxable trusts

Registrable non-taxable express trusts that were in existence on or after 6 October 2020 must register within 90 days of becoming registrable, or on or before 1 September 2022 (whichever is later).

This includes trusts that were in existence on or after 6 October 2020 but have since ceased. Trustees should register such trusts on TRS with the required information and then are able to immediately close the trust record to record the fact that the trust has ceased.

Where a trust is set up or otherwise becomes registrable in the 90 days immediately prior to 1 September 2022 the trust must instead register within 90 days of the date of creation.

Taxable trusts created on or after 6 April 2021

Registrable taxable trusts created on or after 6 April 2021 must register within 90 days of the trustees becoming liable to tax, or on or before 1 September 2022 (whichever is later).

Taxable trusts created before 6 April 2021

Registrable taxable trusts created before 6 April 2021 are required to register by 31 January (or 5 October in some cases) following the end of the tax year in which the trust had a liability to UK taxation. See TRSM40030 for further information.

 

Trusts that incur a tax liability which triggers registration but have since ceased are still required to register. Trustees should register such trusts on TRS with the required information and then are able to immediately close the trust record to record the fact that the trust has ceased.

Deadlines for notification of changes

The TRS record must be kept up to date with any changes that occurs to the information held on the record. The deadlines depend on whether the trust is taxable or non-taxable.

Non-taxable trusts

The information on TRS (see TRSM32010) must be kept updated within 90 days of the date that the trustees become aware of changes to the trust details or beneficial ownership.

Taxable trusts

If the trust is taxable, you must declare the trust is up to date on an annual basis by 31 January following the end of each tax year in which a tax liability arises.

When making this declaration, trustees must ensure that all changes to the additional information required from taxable trusts (see TRSM32080) that took place within that tax year have been recorded on TRS. Information on the assets of the trust recorded at the point of registration does not need to be kept updated with this annual update. See TRSM40030 for further information.

The remainder of the information on TRS (see TRSM32010) must be kept updated within 90 days of the date that the trustees become aware of changes to the trust details or beneficial ownership.