13 May 2022
How are you getting on with the TRS?
Some statistics have appeared about the number of trusts registering on the TRS

03 May 2022
Statutory trusts and absolute trusts
Explanation of the above

29 April 2022
HMRC TRS Manual updates - Part 4
Yet another update to the TRS Manual was published on 14 April 2022. This includes one item not previously appreciated

14 April 2022
TRS fees paid by beneficial owner - tax implications
Trustees are responsible for registering their trust (if it needs to be registered) on HMRCís Trust Registration Service (TRS), but they donít have to physically do it themselves. If the trustees get an agent (usually an accountant) to deal with the TRS, who should pay the agentís fee?

01 April 2022
Taxation of absolute trusts
An overview of how an absolute trust is taxed

24 March 2022
HMRC TRS Manual updates - Part 3 plus updated list of excluded trusts
Conclusion of the February updates to the HMRC TRS Manual as well as an update to the Gov.UK HMRC Guidance on how to register your trust and the complete list of trusts excluded from registration

15 March 2022
Fact-checking bare (absolute) trusts
What is and what is not true about bare (absolute) trusts

14 March 2022
HMRC TRS Manual updates - Part 2
Following the recent updates of the HMRC TRS Manual we continue to cover the relevant parts

01 March 2022
HMRC TRS Manual updated - some important changes
There were sixteen updates and/or amendments and/or changes to the TRS Manual published on 24 and 25 February 2022. Some of these have changed the previously published guidance from HMRC

24 February 2022
TRS latest - the Money Laundering (Amendment) Regulations 2022 approved by Parliament
The Statutory Instrument (SI) amending the 2017 Money Laundering Regulations has been approved without changes and will come into force on 9 March 2022

14 January 2022
TRS latest - draft amending Money Laundering Regulations have been laid before Parliament
On 6 January, the Money Laundering and Terrorist Financing (Amendment) Regulations 2022 were laid before Parliament and are due to come into force on 9 March 2022. The Regulations were necessary to implement changes made in order to extend the deadlines imposed on trustees for registering and updating information on the register, and also to amend the categories of trusts which are required to register. All the changes are as previously stated by HMRC

07 January 2022
TRS latest - HMRC updates its TRS Manual in relation to trusts holding life insurance policies
In December 2021, HMRC updated its TRS Manual in relation to trusts holding life insurance policies and trusts arising from personal injury pay-outs. More updates are expected this month

15 December 2021
TRS latest - HMRC updates its online guidance
On 9 December 2021, HMRC updated its gov.uk pages dealing with the TRS