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ARTICLE · 25 NOVEMBER 2015

Offshore Trusts With UK Beneficiaries Will Be Captured Under 4AMLD

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The arm of the UK Government is likely to extend into offshore trusts where they contain UK tax paying beneficiaries.

United KingdomWealth Management
David Dorgan
David Dorgan
David Pytches
David Pytches
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The arm of the UK Government is likely to extend into offshore trusts where they contain UK tax paying beneficiaries. Whether or not this information will be linked at an EU level remains to be seen.

Following the introduction of the EU's 4th Anti-Money Laundering Directive (4AMLD), and recent G20 talks in Turkey, the UK Government has announced that it has agreed to fully implement inter-governmental body, the Financial Action Task Force, recommendations on the importance of transparency of beneficial ownership.

The EU's 4AMLD sets out a regime for trusts that is separate from that of companies, and includes a register of trusts that will not be available for public inspection. In line with the 4AMLD, Downing Street this week announced that:

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