Important changes for trustees coming later this year

MARCH 2022

The long-awaited Trust Registration Service (‘TRS’) is finally here, and with it comes new responsibilities for trustees of practically every kind of trust. If you are a trustee now, or if you expect to become one soon, then you will need to become familiar with the new online TRS or face potential fines. The deadline has been extended from March 2022 to September 2022, so if you are not aware of the new system then this will come as a relief. We understand the government’s communications on the new system has been limited, so if this is news to you then this article will serve as a guide for what is to come.