Do you have a trust? Here’s what you need to know about the new registration rules
Important changes to trust registration rules designed to cut red tape and simplify the process across the UK’s ownership and trust reporting frameworks are now up and running.
Introduced under the Money Laundering and Terrorist Financing (Amendment) Regulations, changes to the Trust Registration Service (TRS) came into effect on 30 June (2026).
What is the Trust Registration Service and what does it do?
It’s an online service managed by HMRC. Through the TRS, the vast majority of UK trusts and UK-linked overseas trusts must provide detailed information about the trust’s settlor – in other words, the individual or entity who created the trust and who transfers assets into it – as well as its trustees, beneficiaries and potential assets.
Amendments have been made to meet the new anti-money laundering regulations. Registering is also the only way to register a trust with HMRC and obtain a unique Taxpayer Reference (UTR).
Are some small, low risk trusts now excluded from having to register?
Yes, under the new rules and to reduce the compliance burden, it is no longer necessary to register certain small, low value, low risk trusts which can now be excluded under ‘de minimis’ exemptions.
To qualify for exemption a trust must:
- Not be liable for relevant UK taxes.
- Not hold any interest in UK land or property.
- Not have assets worth more than £10,000 since being set up.
- Not have an annual income of more than £5,000.
- Not have financial assets, like jewellery or antiques, worth more than £2000.
If any of these thresholds are exceeded, the trust must then be registered.
However, if you have a trust which meets the conditions for exemption under these rules, it can now be removed from the register.
What other significant changes have been made to trust registration rules?
Another major amendment is the extension of TRS registration requirements to include non-UK express trusts if they acquired an interest in UK land or property before October 2020 and continue to hold that interest on or after 30 June 2026.
Before this change came in, non-UK express trusts without UK trustees holding UK land and property acquired before October 2020 did not have to register with the TRS unless they became liable for tax in the UK.
The deadline for trusts that now need to comply and therefore register, is by 1 September 2027 instead of within the usual 90-day period.
Other changes include:
- A trust no longer needs to register with the TRS simply because it has a stamp duty reserve tax liability.
- Certain trusts, including co-ownership property trusts and trusts created by a deed of variation during the administration of a deceased person’s estate, are now exempt from TRS registration for two years after the death of the settlor. This brings them in line with Will trusts created on death.
What should you do now?
It’s important to consider whether the changes now in place affect you and if so, what action needs to be taken.
Get in touch
Wards Solicitors’ highly experienced Trust Creation and Management Team can talk you through the possible implications of the TRS changes, help you review your arrangements if necessary and assist with any registration, removal of registration or updates needed on the TRS.
Described as ‘incredibly sensitive and caring’, our Personal Tax, Trusts and Probate team is recommended in the independent Legal 500 guide for 2026. Partner Ruth Coles is highlighted as a key lawyer.
Email Ruth: ruth.coles@wards.uk.com
Phone Ruth: 0117 986 3504