ARTICLE · 07 MARCH 2018

Trust Registration Service – An Overview

RWK Goodman

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HMRC's new online Trusts Registration Service (TRS) was launched in July 2017. This new online facility was introduced partly to implement new regulations relating to the UK's anti-money laundering ...

United KingdomTax

Stephanie Brobbey

HMRC's new online Trusts Registration Service (TRS) was launched in July 2017. This new online facility was introduced partly to implement new regulations relating to the UK's anti-money laundering and counter-terrorist financing regime, and partly to extend HMRC's digital remit in the age of tax transparency, although it has not been without its technical glitches thus far.

With effect from May last year, Form 41G became redundant and was replaced by the TRS online portal which is now used to register trusts and estates for reporting purposes. The TRS includes a register of beneficial ownership and the means for trustees to register trusts with HMRC for the purposes of obtaining a Unique Taxpayer Reference (UTR) and delivering tax returns.

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