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created to enable commercial transactions.

a trust for capital markets and similar items.

holding client money, securities and other assets - this must be incidental to the carrying on of business by a relevant supervised person.

created to hold money for people other than the trustee - or those relating to professional services.

a trust relating to financial markets - including those created by default arrangements of a designated system or of the default rules of a recognised body.

a co-ownership trust set up to hold shares of property or other assets jointly owned by 2 or more people as ‘tenants in common’.a trust with less than £100 and set up before 6 October 2020 (also called a ‘pilot trust’).set up on death that takes assets from the estate and is closed within 2 years of death (also called a ‘will trust’).set up to open a bank account for a child.a trust for a registered UK charity (or a charity not required to register with the Charity Commission under the Charities Act 2011).holding life insurance policies that only pay out on death, illness, or disability.used to hold money or assets of a UK registered pension scheme - like an occupational pension scheme.a statutory trust by a court order or by law - for example, a trust created by a court when a couple cannot agree how to split assets during a divorce.Your trust is a Schedule 3A trust if it is any of the following: Schedule 3A trusts are also referred to as ‘excluded express trusts’. You do not need to register your trust if it is a Schedule 3A trust, unless it has a liability to UK taxation. Check if your trust is a Schedule 3A trust If a relief already covers the liability, you’ll still need to register the trust if your client needs to claim the relief through Self Assessment. You must also register a non-UK resident trust if it becomes liable for tax on UK assets or on income coming from the UK. have at least one trustee resident in the UK and enter into a ‘business relationship’ within the UK.

non-UK express trusts, like trusts that:.all UK express trusts - unless they are specifically excluded (for example, a Schedule 3A trust).The following types of trusts must register even if they have no tax liability: Land and Buildings Transaction Tax (in Scotland).You must register a trust if it becomes liable for any of the following taxes:

if you need to get a Unique Taxpayer Reference (UTR) - for example, for filling in a Self Assessment tax return for the trust, even if the trust is on the exemption list.to make sure you and the trust comply with anti-money laundering regulations.