Just 15% of required 1m Trusts registered with HMRC as deadline fast approaches

Mark Battersby
clock • 1 min read

A Freedom of Information request to HMRC has revealed that only 153,241 UK Trust registrations have been received since the Trustee Registration Service began in June 2017, despite estimates suggesting up to one million trusts could be required to register by the deadline says Canada Life.  The deadline for the majority of express trusts to be registered on the service is 1 September 2022 with the onus on trustees to register trusts through the HMRC portal by the deadline.  A penalty regime for late submissions is still being finalised but initial proposals have suggested those truste...

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