UK government publishes consultation response on 5AMLD and trust registration rules
The UK 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. Read full article here – https://www.step.org/industry-news/uk-government-publishes-consultation-response-5amld-and-trust-registration-rules
UK trust registration deadline to be extended
HM Revenue & Customs has stated that it will not meet the March 2021 target for upgrading the Trust Registration Service (TRS) to allow non-taxable trusts to register. Read Full Article Here – https://www.step.org/industry-news/uk-trust-registration-deadline-be-extended
Court declines to rescind appointment of trustee landed with GBP 1million CGT bill
A woman whose father made her trustee of a family trust that embarked on a ’round the world’ capital gains tax (CGT) avoidance scheme has failed to persuade the England and Wales High Court (EWHC) to rescind the appointment. Read Full Article Here – https://www.step.org/industry-news/court-declines-rescind-appointment-trustee-landed-gbp-1million-cgt-bill
