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New trusts register deadline extended

A new service, known as the Trusts Registration Service (TRS), will provide a single online route for trusts, and complex estates, to comply with their registration obligations. In this first year of TRS, the deadline for registering is extended two months to 5 December 2017.

No penalty will be imposed where registration is completed after 5 October but before 5 December 2017. The extended deadline is designed to allow sufficient time to complete the registration of a trust for self-assessment and provide beneficial ownership information.

What is the Trusts Registration Service?

The Trusts Register will provide a single point of access for trustees, personal representatives and their agents to register and update their records online.

It replaces the paper 41G (Trust) form and the adhoc process for trustees to notify HMRC of changes in their circumstances.

The new trust register is being implemented in stages. Initially only lead trustees or personal representatives are able to use the Trusts Registration Service. Agents will be able to register a new trust in autumn 2017.