Please note that the Trust account is opened on a non-advised ‘execution only’ basis, where no advice or assessments have been given to its suitability. You must seek your own independent advice if you need clarification on anything concerning opening a Trust.  You can find out more about how Trusts operate and how to open a Trust account with us in our trust account guide.

Once you have decided you want to open a Harpenden Building Society Trust account, you can apply using our online form or download a trust application form and return it to our head office or one of our branches. Please note that we will try and identify Trustees and Beneficiaries electronically, however if this is not possible (for instance, if party to the account is under the age of 18) we will need to see copies of identification.

You will need to provide a copy of the Trust Deed or Will and identification for all beneficiaries and Trustees if this cannot be completed electronically. If the Trust is liable for tax, please provide the Unique Tax Reference (UTR) Number with the application. If it is not liable for tax, please provide the Unique Reference Number (URN) instead.

Trust accounts can need to be opened with a minimum balance of £10,000.

If they were the only Trustee, then their personal legal representative can nominate a new Trustee, become a Trustee themselves or choose to have the funds sent to the beneficiary.

If there are joint Trustees, then the surviving Trustee may continue to manage the Trust account as before. Those Trusts with multiple Trustees may choose to nominate a replacement for a Trustee who has died.

This is a number provided by HMRC when the trust is registered. If the Trust is taxable, HMRC will provide you with a Unique Taxpayer Reference (UTR) code. If the trust is not taxable, HMRC will provide a Unique Reference Number (URN) code instead.

Yes. The money will remain deposited in the Trust Account for the sole purpose(s) of the Trust We will release funds to the named beneficiaries that are disclosed on the application form, in line with the instructions held in the Trust Deed.

Your solicitor will be able to provide advice on any costs associated with the Trust itself. There are no associated fees with our Trust Account and there are no ongoing charges on this account.