TACT card

BREAKING NEWS: Change to dates for implementing TRS for 5MLD

We are grateful to John Bunker and Robert McLean who represented TACT at a meeting of the TRS sub-group with HMRC on Thursday 11 March 2021.

HMRC have announced a significant change to the TRS timetable. HMRC’s systems are not going to be ready this spring and HMRC have postponed the launch of the new version of the Trust Registration Service (TRS) until “this summer”. No exact date has been given at this stage.

HMRC are also putting back the deadline for completing registrations from March 2022. It is anticipated that the new deadline will be 12 months after the launch of the new registration service to allow trustees reasonable time to register all trusts.

The legislation will be amended to extend the deadline and provide for these changes.

HMRC will be providing full guidance and clarification on how trustees will use the new system and remain compliant with the 5AMLD regulations in due course. We will provide an update when it is available.

 

Trust Quarterly Review

Trust Quarterly Review

The Trust Quarterly Review is published in partnership with STEP, it discusses matters of interest to trustees and executors with a focus on the particular interests of trust corporations in mind

TACT members

Upcoming TACT meetings and events

Upcoming TACT meetings and events

Talk to TACT

For more information fill out the form below or contact Scott Clayton on
020 3576 3516 or email scott.clayton@tactweb.org.

  By submitting your details, you consent to their use as set out in our Privacy Policy.