HMRC has implemented legislative changes to its trust registration service (TRS).
The scope of the TRS has been extended to cover almost all UK express trusts and some non-UK express trusts established on or before 6 October 2020.
The UK TRS was introduced following the implementation of the EU’s fourth money laundering directive.
The directive aims to improve transparency around the beneficial ownership of assets held in trusts with UK tax liabilities.
T...