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

Trust registration penalties ahead?

clock • 4 min read
Gerry Brown: Honeymoon for advisers over trust registration penalties 'may not last'
Image:

Gerry Brown: Honeymoon for advisers over trust registration penalties 'may not last'

Those who put off planning for trust registration might find themselves next May or June with the proverbial shedload of data to be gathered and a deadline twelve weeks away, writes Gerry Brown. And while it is thought HMRC will be ‘easy' on penalties - at least for a honeymoon period - how long will it last?

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,...

To continue reading this article...

Join Professional Adviser

 

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Tap into our community intelligence through our regular Pro Adviser poll.
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA to review advisers' capital requirements

FCA to review advisers' capital requirements

Part of consumer investment strategy

clock 06 December 2021 • 4 min read
Megan Butler of the FCA

FCA's Megan Butler to step down from exec role

Stephen Braviner Roman to join

Pedro Gonçalves
clock 06 December 2021 • 2 min read
FCA clamps down on Appointed Representatives in fresh consultation

FCA clamps down on Appointed Representatives in fresh consultation

Require stronger oversight by principals

clock 03 December 2021 • 4 min read