Trust Registration Service: Changes from 30 June 2026

27th August 2026

HMRC have announced changes to the rules on which trusts are required to register on the Trust Registration Service (TRS).

Low-value trusts

From 30 June 2026, a new general exemption from the TRS is available for certain low-value trusts.

A trust may qualify under this new exemption if it:

Does not hold any UK land or property
Does not hold assets with a cumulative value exceeding £10,000 during its lifetime
Does not receive gross annual income exceeding £5,000
Does not hold more than £2,000 worth of appreciable assets (such as art, antiques or collectibles)

Note that the £10,000 limit is cumulative. Meaning that trustees must consider the total value of property introduced into the trust, regardless of the value of the current value of the trust assets. There are restrictions on using the exemption, specifically in that only one trust created by the same settlor can use the exemption. Taxable trusts must also still be registered, even if it would fall within the limits.

This change is a welcome one for trust administration purposes. The new exemption will be particularly effective for small bare trusts holding cash or investments, which were previously required to be registered despite having no tax liability.

Two-year exemption

Trusts created by a deed of variation are now exempt from registration for two years from the date of death. If the trust continues beyond that point, it may then need to be registered.

A two-year period has also been introduced for co-ownership trusts that cease to qualify for the usual exemption because one of the trustees has died. Jointly owned property is normally excluded from TRS registration where the legal owners and beneficial owners are the same people, even if they own unequal shares. If one owner dies, the surviving legal owner may hold the deceased’s share for their estate or beneficiaries. This would mean the usual co-ownership exemption does not apply. Under the new rules, there is a two-year period from the date of death before registration may be required.

Non-UK trusts holding UK property

Non-UK express trusts which acquired UK land or property before 6 October 2020 must now register if the property was still held on 30 June 2026. Previously, the registration requirement only applied where the UK land or property had been acquired on or after 6 October 2020. This change extends the reporting requirements for non-UK trusts. HMRC give a deadline of 1 September 2027 to register these trusts.