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HMRC Trust Registration Service – Top Tips!

HMRC Trust Registration Service – Top Tips!

Following the recent information provided about HMRC’s requirement for most Trusts to be registered via an HMRC online Trust Registration Service  (TRS), we are pleased to provide you with some ‘Top Tips’ based on feedback from our clients for completing your Trust registration.

  1. The Lead Trustee must register your Trust(s) online here and will need to set up a new Government Gateway Organisation ID for each Trust they register.
  2. The How to Guide is a really helpful tool to help you navigate through the process.
  3. Use the Checklist to gather all the information you need before beginning the registration process and also to record the Government Gateway User ID.
  4. Naming the Trust – you only have 53 characters so may need to paraphrase the name. If you have multiple Trusts you may also wish to include part of the plan number to help you identify the different plans. For example: J S Jones Loan Trust 2345.
  5. When you complete the submission there is a standard message saying you will receive your URN within 15 working days. If you log out, then log back in to the Gateway the URN will be displayed so you can save the details.
  6. If registering multiple Trusts you may need to close your browser between completing one registration and starting the next if your system automatically uses the details you’ve previously input.
  7. It is vital that once you have completed the registration process and have your Unique Reference Number(s) (URN), you provide Abbeygate Wealth Management with a copy of the details.

 

For further help and information regarding the Trust Registration process please take a look at the following documents:

 

St James’s Place have also created a helpful video to assist you with completing the registration process.

If you have any questions about registering your Trust(s), please do not hesitate to contact the office on 01284 703422.

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88/89 Whiting Street
Bury St Edmunds
Suffolk, IP33 1NX
01284 703422
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Company No.06803554

The Partner Practice is an Appointed Representative of and represents only St. James's Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Group’s wealth management products and services, more details of which are set out on the Group’s website www.sjp.co.uk/products. The ‘St. James's Place Partnership’ and the titles ‘Partner’ and ‘Partner Practice’ are marketing terms used to describe St. James's Place representatives.