14 April 2022
TRS fees paid by beneficial owner - tax implications
Trustees are responsible for registering their trust (if it needs to be registered) on HMRC’s Trust Registration Service (TRS), but they don’t have to physically do it themselves. If the trustees get an agent (usually an accountant) to deal with the TRS, who should pay the agent’s fee?
14 January 2022
TRS latest - draft amending Money Laundering Regulations have been laid before Parliament
On 6 January, the Money Laundering and Terrorist Financing (Amendment) Regulations 2022 were laid before Parliament and are due to come into force on 9 March 2022. The Regulations were necessary to implement changes made in order to extend the deadlines imposed on trustees for registering and updating information on the register, and also to amend the categories of trusts which are required to register. All the changes are as previously stated by HMRC