TRSM23010 | Types of trust that need to be registered: contents: excluded express trusts: contents: introduction

Certain express trusts are excluded from the express trust registration requirements. This is because these trusts can be considered a lower risk of money laundering or terrorist financing due to other registration and regulatory requirements. Sch3A of The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 sets out the types of express trusts that are not required to register.

Note however that a trust that is otherwise excluded from registration under Sch3A is nevertheless still required to register if it has a liability to UK taxation.

The requirements for registration as a taxable trust are at TRSM25000.