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4 Months to Register Non-Taxpaying Trusts

Registering Non-Taxpaying Trust

The deadline for registering any non-taxable trusts that existed 6th October, 2020 on HMRC’s Trust Registration Service is 1 September 2022. This still applies even if the trust has since been closed. When you register your trusts as a trustee with HMRC, ensure you and the trust comply with anti-money laundering regulations.

You must register if your trust becomes liable for Capital Gains Tax, Income Tax, Inheritance Tax or Land Transaction Tax (or the Scotland/England equivalent).

Even with no tax liability, you need to register your trust if you have any UK express trusts unless excluded specifically, or a non-UK express trust that acquires land or property in the UK or has at least one resident in the UK and enters a UK business relationship. For trusts residing outside of the UK, register the trust if it becomes liable for tax on income from the UK or on UK assets.

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