Government publishes consultation response on trust registration rules

The government has published the outcome of its technical consultation on implementation of the EU Fifth Anti-Money Laundering Directive (5AMLD) and its impact on trust registration.

The final regulations have significantly increased the categories of trust that will be exempt from being registered (unless such a trust becomes liable for UK income tax, capital gains tax, inheritance tax, stamp duty land tax or stamp duty reserve tax - in which case the trust will need to be registered on the TRS in order for the required trust tax return to be issued). The full list of exempt trusts include:

If you’re not a client, to read this content you must sign up for a free guest account

Clients of threesixty are kept up to speed with the latest regulatory, industry and technical developments via our regular news and opinions articles.

As well as being updated via the articles we publish to threesixty online, clients can specify to us what type of articles they want to receive (by category) and how frequently they receive them.

To try this service, simply register your details with us and we'll give you 3 months free and unlimited access to our news and opinions.