UK’s TRS opens to non-taxable trusts and extends reporting deadline

The UK’s Trust Registration Service is now open for non-taxable trusts to register, bringing under its scope all UK express trusts and certain non-UK express trusts, with the exclusion of:

1. UK-registered charities;
2. will trusts limited to two years;
3. life policies;
4. trusts for bereaved children.

The original reporting deadline for trusts created after 1 September 2022  was 30 days, which has been extended to 90 days as for the deadline to update any trust information that was already on the register at 1 September 2022.

SOURCE: www.gov.uk