The rules governing the Trust Registration Service (TRS) are changing from 30th June 2026 following the introduction of the Money Laundering and Terrorist Financing (Amendment) Regulations 2026 (SI 2026/621).

The changes will affect some trusts for the first time, while others will benefit from new exemptions that reduce unnecessary administration.

If you’re a trustee, now is a good time to review whether your trust still needs to be registered or may need to register for the first time.

What’s changing?

The reforms are designed to improve transparency by focusing registration requirements on trusts that present a greater money laundering risk, while reducing administrative burdens for certain lower-risk arrangements.

The main changes are:

• Some non-UK trusts holding UK property will become registrable
• A new exemption is being introduced for qualifying low-value trusts
• The existing two-year exemption following a death is being extended to additional types of trust
• Stamp Duty Reserve Tax (SDRT) will no longer trigger registration on its own

Non-UK trusts holding UK property

One of the most significant changes affects certain non-UK express trusts.

From 30th June 2026, a non-UK trust must register with the TRS if it acquired an interest in UK land or property before 6th October 2020 and continues to hold that interest on or after 30th June 2026.

Previously, these trusts generally only needed to register if they became liable to a relevant UK tax.

Trusts brought within the scope of the new rules have until 1st September 2027 to register, rather than the standard 90-day deadline.

New exemption for qualifying low-value trusts

While some trustees face new obligations, others may benefit from reduced reporting requirements.

A new exemption has been introduced for qualifying low-value trusts.

To qualify, a trust must:

• Not be liable to relevant UK taxes
• Not own UK land or property
• Not have accumulated assets exceeding £10,000 since it was established
• Not receive annual income above £5,000
• Not hold assets of appreciable worth, such as artwork, jewellery or antiques, valued at more than £2,000

The exclusion only applies to one qualifying trust per settlor. If a settlor has established more than one trust that would otherwise qualify, only one can benefit from the exemption.

If a trust later exceeds any of these limits, it will become registrable from that point.

Where an existing registered trust now qualifies for the exemption, trustees may be able to remove it from the register.

Scottish survivorship destination trusts

Scottish survivorship destination trusts are also exempt from registration from 30th June 2026.

These trusts arise where a survivorship clause affecting jointly owned property is revoked so that ownership passes to an alternative beneficiary.

More time for trusts created following a death

The existing two-year registration exemption for will trusts has been expanded.

From 30th June 2026, the exemption also applies for two years following the settlor’s death to:

• Co-ownership property trusts
• Trusts created under section 34 of the Trustee Act 1925 that become registrable following the death of a trustee
• Trusts created by deed of variation during the administration of a deceased person’s estate

This change recognises that trustees often need time to deal with estate administration before ongoing trust obligations begin.

SDRT no longer triggers registration

Another welcome simplification is the removal of Stamp Duty Reserve Tax (SDRT) as a standalone reason for registering a trust.

From 30th June 2026, an SDRT liability on its own will no longer require a trust to register. Registration will instead depend on the remaining relevant tax and transparency rules.

What should trustees do now?

Although these changes won’t affect every trust, they are likely to require a review of existing arrangements.

Trustees should consider:

• Whether your trust is now required to register with the TRS
• Whether an existing registered trust now qualifies for one of the new exemptions
• Whether any action is required before the relevant registration deadline

Taking action early can help avoid unnecessary compliance issues and ensure reporting obligations remain up to date.

How Wilson Partners can help

Determining whether a trust falls within the Trust Registration Service isn’t always straightforward, particularly where exemptions or overseas elements are involved.

Our specialist tax team can help you assess whether a trust needs to register, confirm whether an exemption is available, review existing registrations, and support you with TRS registrations, updates and deregistration where appropriate.

If you’d like to discuss your trust arrangements or the changes taking effect from 30th June 2026, we’d be happy to help.