Open a Trust and be in Control
So, in the UK, how would I create a
UTR like the American EIN to create a tax ID number
for a trust and not a person, and then create a
revocable trust as the entity type that I list myself as
both the Grantor and Trustee.
In the UK you don’t apply for a “trust tax ID” first and then create the trust. You create the trust, then register it with HMRC, and HMRC then gives the trust its own tax reference (UTR/URN). That reference is the closest thing to an EIN for a trust.
Below is a simple, step‑by‑step version of what you’d do if you want to be both grantor (settlor) and trustee of a flexible/revocable‑style trust.
1. Understand the UK equivalent terms
• Grantor (US) → Settlor (UK)
• Trustee → same word in UK
• EIN for a trust → UTR (if taxable) or URN (if non‑taxable), issued after you register the trust
• “Revocable trust” → UK doesn’t have an exact label, but you can create a trust where:
o You (as settlor) keep strong powers to revoke, vary, or take assets back, and/or
o You’re a beneficiary during your lifetime.
Tax treatment then depends on the exact wording, not the label.
2. Create the trust (trust deed)
You do this before you get any tax number.
Steps:
1. Decide the basics
o Settlor: you
o Trustees: you (you can be sole trustee, but many people add at least one more trustee for robustness)
o Beneficiaries: e.g. you during your lifetime, then your children/spouse after your death (or any pattern you want)
o Powers: include explicit powers to:
Revoke the trust
Add/remove beneficiaries
Appoint capital/income as you wish
2. Get a trust deed drafted
o For anything important, use a solicitor or specialist trust drafter.
o Tell them: “I want a trust where I am settlor and trustee, with powers to revoke and control assets in my lifetime, similar in effect to a US revocable living trust, but compliant with UK law and tax.”
3. Sign and date the deed
o You (as settlor) and any co‑trustees sign.
o The trust legally exists from the date on the deed, once you transfer at least some asset into it (even a nominal sum).
At this point, the trust exists, but it has no UTR/URN yet.
3. Register the trust with HMRC (this creates the trust’s “tax ID”)
This is done on HMRC’s Trust Registration Service (TRS). The trust’s UTR/URN is issued after this registration.
3.1. Who does the registration?
• The lead trustee registers the trust.
• If you’re the only trustee, that’s you.
You’ll need:
• Your Government Gateway account (you can create one on GOV.UK if you don’t have it).
• The trust deed and basic details:
o Date of creation
o Names/addresses/NI numbers or UTRs of:
Settlor(s)
All trustees
Beneficiaries (or classes, e.g. “my children”)
o Description of trust assets (property, investments, cash, etc.)
3.2. How to register (simple steps)
1. Go to GOV.UK and search: “Register a trust”.
2. Choose the option for Trust Registration Service (TRS).
3. Sign in with your Government Gateway account.
4. Select “Register a new trust”.
5. Fill in the questions about:
o The trust (type, date, country of residence for tax)
o Settlor(s)
o Trustees
o Beneficiaries
o Assets and whether the trust has/had UK tax to pay
6. Submit.
HMRC will then:
• If the trust is taxable (e.g. has income/gains above allowances):
o Post a 10‑digit UTR to the lead trustee’s address (usually within ~2–3 weeks).
• If the trust is non‑taxable but registrable:
o Show you a 15‑character URN online when you sign back into TRS.
That UTR/URN is the trust’s tax reference – the UK analogue of an EIN for a trust.
You can later:
• Download a “proof of registration” from TRS to show banks or advisers.
• Use the UTR/URN on trust tax returns and HMRC correspondence.
4. Being both settlor and trustee (and “revocable” features)
You can absolutely be:
• Settlor (the person who creates and funds the trust), and
• Trustee (the person managing the trust assets),
and also a beneficiary in your lifetime.
To get something close to a US revocable trust:
• The trust deed should say clearly that:
o You can revoke the trust at any time while you’re alive and have capacity.
o You can take back all assets into your personal name.
o You can change beneficiaries and terms as you wish.
• In many cases HMRC will treat this as a settlor‑interested trust, meaning:
o Income and gains are often taxed on you personally, not at trust rates.
o For inheritance tax, the assets may still be treated as part of your estate.
This doesn’t stop you having the structure; it just affects how it’s taxed. A good drafter will explain the tax consequences before you sign.
5. Simple sequence in practice
In order:
1. Decide your goals (control in life, what happens on death, tax priorities).
2. Instruct a solicitor to draft a trust deed with:
o You as settlor and trustee
o Revocation and variation powers
o Your chosen beneficiaries
3. Sign the deed and move at least some asset into the trust.
4. Register the trust on TRS as lead trustee.
5. Receive the trust’s UTR/URN from HMRC.
6. Use that UTR/URN:
o On any trust tax returns
o When dealing with HMRC about the trust
o Often when opening a bank account in the trust’s name (banks may also want the deed and proof of TRS registration).
