Register Your Trust With HMRC
Due to recent amendments to legislation, certain Trusts must now be registered with HMRC irrespective of whether there is tax to pay. If the relevant Trust is not registered with the TRS at gov.uk a penalty could be payable. There are many exclusions, but various Will Trusts do fall within the registerable category. If your Will includes a Life Interest Trust, a gift to be held in Trust for a child (not your own child or children) who is a minor, a Discretionary Trust (not a Disabled Persons Trust) or a Nil Rate Band Trust, it may be that this will need to be registered with the TRS at gov.uk within two years of the date of death.