The introduction of the 5th Money Laundering Directive (the “5MLD”) in October 2020 introduced the requirement for all trusts to register with the HMRC’s Trust Registration Service (“TRS”).
Up until then, most UK and non-UK tax resident trusts with a UK tax liability (e.g. capital gains tax, income tax or stamp duty reserve tax) already were under the obligations to register with the TRS. As a result, the above changes involve the majority of non-taxable trusts.
Express trusts are trusts created deliberately by a settlor, irrespective of whether its trustees incur a UK tax liability.
HMRC provided a long list of exclusions for trusts which would not require registration with the TRS. Below is a non-exhaustive list:
 e.g. credit or financial institutions, auditors, estate agents or legal professionals.
 Full list available on https://www.gov.uk/hmrc-internal-manuals/trust-registration-service-manual/trsm23000
 Such trust would either need to be:
The plan trust of a Share Incentive Plan that meets the requirements of Part 9 of Schedule 2 to the Income Tax (Earnings and Pensions) Act 2003.
A trust created under a share option scheme that meets the requirements of Parts 2 to 7 of Schedule 3 to the Income Tax (Earnings and Pensions Act 2003.
Thre is no specific exclusion from registration of an employee benefit trust (“EBT”) and so in general these should be registered, however, depending on the circumstances of the EBT, one or more exclusions from registration may apply.
 Unregistered pension arrangements setup under a trust are within the scope of the Fifth Money Laundry Directive.
 This exclusion does not apply if the trust is a non-UK trust with no UK trustees where the trustees acquire UK land.
Non-taxable trusts in existence on or after 6 October 2020
1 September 2022
Registrable taxable trusts
31 January (or 5 October in some cases) following the end of the tax year in which the trust had a UK tax liability
Non-taxable trusts created after 1 September 2022
Within 90 days of creation
Changes to the trust details or circumstances
Within 90 days of the change
HMRC has confirmed that non-taxable trusts set up on or after 6 October 2020 but ceased before 1 September 2021 will need to register on the TRS, before immediately closing the record. HMRC added it will take a proportionate approach with trusts that do not meet the 1 September 2022 registration deadline.
The following information is needed for both taxable and non-taxable trusts.
All trustees are equally legally responsible for the trust, but you must nominate one ‘lead’ trustee to be the main point of contact for HMRC. The lead trustee will receive the trust’s UTR if registering a taxable trust and a Unique Reference Number (URN) if registering a non-taxable trust.
Class of beneficiaries:
Charities or trusts:
Companies or employment related:
 only relevant if the trust is a non-UK trust with at least one UK-resident trustee. This question is only asked if the trust has non-UK trustees, or a mix of UK and non-UK trustees and a non-UK settlor.
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