Trust Registration Service (TRS): Updated trustee requirements

The Trust Registration Service (TRS) was introduced by HMRC to provide a central register of trusts in the UK. Its purpose is to improve transparency about the ownership of assets held in trusts and to help combat money laundering, terrorist financing, and tax evasion. Trustees now have a legal responsibility to ensure that their trust is registered and that the information provided is accurate and kept up to date.

This requirement was expanded following changes brought in by the EU’s Fifth Money Laundering Directive (5MLD), which came into effect in 2020. The changes mean that not only taxable trusts, but also many non-taxable trusts, must now be registered. By creating a single point of record, the TRS ensures that trust arrangements are properly documented, increasing accountability and protecting against misuse.

For trustees, this means they must take an active role in maintaining compliance—registering the trust within the required deadlines and updating details whenever circumstances change. While the process may feel administrative, it is designed to safeguard both trustees and beneficiaries, ensuring that trusts continue to operate in line with the law and with greater transparency.

Find out more by downloading our Trust Registration Service document below.