Trust Registration Service - Challenges and Opportunities for Trustees and Advisers 2022 | Insurance Institute of London | 16 May 2022 | Online
Venue
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| Event Date |
Tue May 17 UTC (over 2 years ago)
In your timezone (EST): Mon May 16 8:00pm - Mon May 16 8:00pm |
| Location | Online |
| Region | All |
Details
Money Laundering Regulations 2017 as amended in 2020 and 2022 now require almost all express trusts, unless they are specifically excluded, to register with HMRC using its online TRS. The deadline for existing trusts is 1 September 2022 and new trusts from 4 June 2022 will have 90 days to register.
Although it is the responsibility of the trustees to register, professional advisers are expected to assist with this task. It is therefore important to know which trusts have to register and how it is done. Given that investment bonds are frequently marketed as IHT plans involving trusts, life offices have found themselves having to explain the TRS rules to their clients. In addition, from 1 September 2022, trustees of trusts which are required to register will not be able to enter into business relationships unless their trust is registered and checking this will be another part of due diligence.
Learning objectives:
• Get clarity on who, what, why and when needs to register on TRS
• Understand the latest TRS rules
• Be able to assist your trustee clients with their TRS obligations
Speakers
2022 Speakers
Barbara Gardener
Senior Consultant Tax and Trusts, Technical Connection Ltd
Niki Patel
Tax and Trusts Specialist, Technical Connection Ltd