HMRC has stated that it will not meet its March 2021 target for upgrading the Trust Registration Service (TRS).

Non-taxable trusts are required to register – as stated by the EU Fifth Anti-Money Laundering Directive (5AMLD).

But, to allow them to register, HMRC will defer the current 10 March 2022 registration deadline.

Following a regular meeting with HMRC on 11 March attended by the Chartered Institute of Taxation and the Association of Taxation Technicians representatives on the implementation of the new version of the TRS, HMRC said: “As you are aware the Trust Registration Service will be extended to ...