Financial Liverpool - Extension of the TRS - Are you ready?

The Trust Registration Service (TRS) is a register of the beneficial ownership of trusts. As first set up in 2017, trustees were required to register if the trust had a tax liability.

New rules introduced on 6 October 2020 extend the scope of TRS to all UK, and some non-UK, trusts – with some specific exclusions – regardless of tax liability.

As practitioners, we need to be aware of the limited scope of these exclusions and understand how registration takes place, who is responsible for it and any relevant deadlines.

Learning outcomes

• What the TRS is and the policy reasons behind its introduction and subsequent extension
• Common types of trusts and their interaction with TRS
• Overview of how to register, who is responsible for registration and relevant deadlines

The target audience will be financial planners, paraplanners, legal professionals, accountants and investment professionals.

About the speakers:
Katie is a senior associate at Hill Dickinson in the private client team and a full member of the Society of Trust and Estate Practitioners (STEP). She advises clients on all aspects of succession planning including inheritance tax, will drafting, powers of attorney and the administration of trusts and estates.