TRSM50010 | Trustee data retention obligations: contents: introduction

The trustees of a trust are required to keep their own written record of certain information where the trust is a ‘relevant trust’. These are trusts that are:

• a UK express trust

• a non-UK express trust liable to UK taxation

• a non-UK express trust that acquires an interest in land in the UK

• a non-UK express trust with at least one UK resident trustee that enters into a business relationship in the UK

This requirement to keep records on the trust applies regardless of whether or not a trust is required to register on the Trust Registration Service (TRS).

This is required because law enforcement authorities are able to request this information from a trust.