Yes, unless it is on HMRC's list of excluded trusts. Every UK express trust, meaning one set up deliberately, has to be on the Trust Registration Service, and so does any trust liable to UK income tax, capital gains tax, inheritance tax or property taxes.
The advisers for this subject: Sunny Bharj and Tony Springer
Within 90 days of the trust being created, or of it becoming liable for tax.
The trustees update the record within 90 days of any change.
A trust that pays tax has to declare its record up to date by 31 January.
When the trust ends, the trustees close it on the register.
The trustees register the trust, through HMRC's online service. HMRC says trustees who fail to register a trust or keep its record up to date may have to pay a £5,000 penalty.
The exclusion for a child's bank account covers cash deposit accounts only, so a bare trust holding shares or funds for a child has to be registered.
No. HMRC does not treat a Junior ISA or a Child Trust Fund as a trust.
The trustees, through HMRC's Trust Registration Service.
90 days from the trust being created or becoming liable for tax.
Yes, if it is an express trust and none of the exclusions applies.
Where a trust for a child holds investments, we advise the trustees on what it holds and review it with them.
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