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The Trusts and Estates Agent Advisory Group meets regularly through the year to discuss practical matters to do with trusts and estates.

The stated objective of the transposition is to ensure that the UK’s anti-money laundering and counter-terrorist financing (AML/CTF) regime is kept up to date, effective and proportionate.

In April ATT representatives attended one of the early workshops in HMRC’s latest Master Customer Journey (MCJ) project – the experience of a first time trustee.

Last year, HMRC launched a wide-ranging consultation on the taxation of trusts.

HMRC’s ‘The Taxation of Trusts: a Review’ issued on 7 November 2018 set out the three principles that the government said should underpin the taxation of trusts: transparency, fairness and neutrali

In November’s Technical Newsdesk we highlighted that, following new anti-money laundering legislation, most trusts are now required to retain a written record of their beneficial owners.

Legislation introduced in June 2017 requires most trusts to retain a written record of their beneficial owners.

The extensive Treasury consultation ‘Financing growth in innovative firms’ considers the lack of effective supply of patient capital, current interventions and potential solutions.

The CIOT has submitted a response to the first tranche of the FB17 draft consultative clauses, published on 5 December 2016, that implement these reforms.

On 5 December the Government published a response to the further consultation on the reforms to the taxation of non-domiciles issued in Augu