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All Trusts will soon be required to register with HM Revenue and Customs. The main reason for this is to tackle crime and money laundering.
For Trusts where tax has been paid, or where tax is due, the deadline is the 04 June 2022.
For Trusts where no tax is paid, the deadline is 01 September.
The “Trustee Registration Service” has been open since 2017 although was not mandatory. Various deadlines were introduced and pushed back, largely due to the lockdown. But this set of deadlines is now clear.
There are some exceptions in that some types of trust don’t need to be registered. The most common exception is if a Trust is for pure protection purposes, where it holds a life assurance policy with the main aim of providing death, disability or healthcare benefits. (Note: once a claim is made on the policy you will need to register).
But most other Trusts should be registering.
Full guidance can be found here: https://www.gov.uk/guidance/register-a-trust-as-a-trustee
You’ll need to nominate a lead Trustee to register on behalf of all of the Trustees. The only way to register a Trust is online, there is no paper based process at all.
Before you can register a trust as a trustee, you need to have an Organisation Government Gateway user ID and password. This is different to an individual user ID, the Trust is treated as an organisation. If you do not have one for the Trust already, you can create one the first time you register. You’ll need a Government Gateway user ID for each trust you want to register.
For further information and to register, please follow this link: https://www.gov.uk/guidance/register-a-trust-as-a-trustee Andrew Moore
Managing Director