In January 2020, most of the Fifth Money Laundering Directive was implemented – apart from the provisions for the expansion of the Trust Register, where further consultation is planned.&nbs
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
By 10 January 2020 many more registrations on the Trust Registration Service are likely to be required following the Fifth Money Laundering Directive (5MLD).
Rather than submitting a written response to the OTS’ Inheritance Tax Review Call for Evidence or respond specifically to the Survey, representatives from the CIOT’s Succession Taxes Sub-Committee
Those involved in the first round of trust registrations for 2016-17 will be aware that there were a number of what might, rather generously, be called ‘teething problems’ with the implementation o
The success of the Succession Taxes sub-committee relies on the experiences of its members when we liaise with HMRC to ensure that legislative and operational changes in the Inheritance Tax (IHT) a
