Gerry Brown: Adviser trust registration 'honeymoon' could be shortlived

The Trust Registration Service (TRS) is a register of the beneficial ownership of trusts. It was first set up in 2017 as a consequence of the fourth Anti Money Laundering Directive (4AMLD). Initially, trustees were required to register if the trust paid tax. In October 2020, as a consequence of the fifth Anti Money Laundering Directive (5AMLD), the scope of TRS was extended to all trusts whether they produced income or not. Although there are many exemptions from registration it is fairly safe to assume that all bond-trust combinations (and particularly those used in inheritance tax p...