Are You a Trustee of a Trust That Now Needs Registering?
From the 10th of March 2022 the Trusts that need registering with HMRC are expanding as a result of the EU’s Fifth Money Laundering Directive being introduced.
As a result Trustees will need to register the Trusts that fall into this directive by 1 September 2022. The most common being Bare Trusts, Discretionary Trusts, Trust Funds for minors (i.e.. Grandchildren) and Life Interest Trusts (Trusts which can safeguard half your property from care home fees). Many being created within a Will.
Please contact Symes Bains Broomer on 01405 765561 if you believe you are a Trustee of a Trust which will now need registering and would like assistance or if you wish to obtain more advice or discuss this further.