What is a Trust Registration Service in Uk?
In 2017, all trusts that are taxable in the UK will have to register with the central trust register, the trust register, which is administered by HM Revenue and Customs (HMRC). The register will be available to anyone who can demonstrate a legitimate interest in having access to this information. The trust register is available not only for trusts with a tax liability of more than PSS10, but will also be extended to the larger categories of trusts that require it. The TRS was introduced to help the UK meet its obligations under the European Union (EU) to combat terrorism, money laundering, and tax evasion. The changes to the trust register rules are derived from the EU's Anti-Money Laundering Directive and are designed to reduce the potential for trusts to be used for money laundering or terrorist financing. The old paper registration system for trusts has been replaced by an online system and no additional information is required. The online procedures replace the old Paper Reg