New rules were introduced on 6 October 2020, which extend the scope of the trust register to all UK and some non-UK trusts, whether or not the trust has to pay any tax, (with some specific exclusions).
However, trustees cannot register trusts under the new rules until later in 2021 when the new Trust Registration Service is ready. The deadline for registration is 10 March 2022.
Many of our trustee clients will need to register by March so we are working through each trust to make sure everyone is ready.
Our handy guide has everything you need to know.