ICAEW.com works better with JavaScript enabled.


Non-taxable trust registration: TRS extension confirmed


Published: 11 Jan 2022 Update History

Regulations to extend the deadline for registering non-taxable trusts to 1 September 2022 and to extend the ongoing regular deadline to 90 days have been laid before parliament. ICAEW’s Tax Faculty explains the details.

New rules that came into force in October 2020 require all UK express trusts and some non-UK trusts to register with HMRC. This includes non-taxable trusts, unless the trust is specifically excluded. The trust registration service opened to registrations by non-taxable trusts in September 2021.

A draft statutory instrument to amend the trust registration service (TRS) regulations was laid before parliament on 6 January 2022.

The statutory instrument amending the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 needs to be approved by both Houses of Parliament before it comes into law. Provided that this approval is granted, the changes are expected to come into force on 9 March 2022.

Once approved, the statutory instrument:

  • extends the registration deadline from 10 March 2022 to 1 September 2022;
  • extends the post-2022 registration deadlines from within 30 days of the trust becoming registerable to within 90 days of the trust becoming registerable;
  • extends the time limits for keeping information held on TRS up to date from within 30 days of the trustees becoming aware of the change to within 90 days of the trustees becoming aware of the change;
  • adds to the existing exclusion for insurance policies at Sch 3A, para 4 to ensure that trusts holding policies that contain temporary disablement cover and trusts holding healthcare policies are excluded from registration; and
  • adds a new exclusion at Sch 3A, para 6A to ensure that trusts created in the course of setting up a bank account for minors or vulnerable persons are excluded from registration

HMRC’s Trust Registration Service Manual will be updated for these changes in due course.

Tax Faculty

This guidance is created by the Tax Faculty, recognised internationally as a leading authority and source of expertise on taxation. The Faculty is the voice of tax for ICAEW, responsible for all submissions to the tax authorities. Join the Faculty for expert guidance and support enabling you to provide the best advice on tax to your clients or business.

More support on tax

ICAEW's Tax Faculty provides technical guidance and practical support on tax practice and policy. You can sign up to the Tax Faculty's free enewsletter (TAXwire) which provides weekly updates on developments in tax.

Sign up for TAXwireJoin the Tax Faculty

More from the Tax Faculty

Latest news
Making tax digital image

Stay up to date with the latest developments in tax by signing up to the Tax Faculty's weekly e-newsletter

Practical guidance

Comprehensive support for Tax practitioners each month from the Tax Faculty and expert contributors.

Technical support
Tax Faculty image

Expert advice from the Tax Faculty's technical managers on all the developments in tax policy and practice.