TSEM1405 | Introduction to trusts: new trusts: trust with no likelihood of income or gains

A trust may have no income, and no likelihood of income or gains. However, trusts with no taxable income or gains are still required to register the details of the trust with HMRC’s Trust Registration Service (TRS), unless a specific exclusion from registration applies. See TRSM20000+

Trustees of a trust that holds only an insurance policy might be within the scope of the chargeable event gains legislation (TSEM3210) see TRSM23030