Trust registration - new consultation

The draft regulations that have been laid to implement the Customer Due Diligence aspects of the 5th Money Laundering Directive (5MLD) don’t include the trust registration service (TRS) elements. Early in 2020, HMRC is to consult on the technical detail of regulations to implement the Trust Registration Service aspects.

HMRC has provided the Chartered Institute of Taxation (CIOT) with the following update:

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