Registering Trusts with HMRC

by | Jul 26, 2022 | Commentary & Insights | 0 comments

We would like to draw your attention to new legislation which requires most trusts to be registered online with HMRC by 1 September 2022. 

If you are a trustee on a trust which was in existence on or after 6 October 2020, even if it has since been wound up, you may need to register.  New trusts have 90 days to register. 

Please find more information here which explains the registration in more detail: which trusts need to register, and how to begin the process. 

If you are unable to register the trust for any reason, we would recommend speaking to your accountant who should be able to register as an agent and complete this process on behalf of the trustees.  If you do not have an accountant, then please get in touch with us and we would be happy to recommend one of our contacts. 

Before you register the trust, it is important to gather the relevant information to make the process as easy as possible. This document details the information you will need. 

We may have copies of trust deeds and some details saved on our system so please get in touch if we can assist with this.  

Once you have registered the trust, the lead trustee will receive a Unique Reference Number (URN). It is important to keep this safe for future reference. 

It is also important to keep the information on the register up to date. Any changes need to be recorded on the register within 90 days. 

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