The data, which was collected through a Freedom of Information (FOI) request by insurance company Canada Life, shows that each month the average registration number sat between 1,000-2,000, however the firm estimates that there are still 1m people that need to register.

The data showed that 3,552 trusts were registered in January of this year with the firm stating that this means that almost 170,000 trusts would need to be registered each month to meet the deadline of 1 September 2022.