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UK Trust Registration Service guide for non-UK trusts
The Trust Registration Service (TRS) is a register of the beneficial ownership under trust arrangements. The requirement to register trusts started in 2017 and its scope widened on 6 October 2020. These latest changes are likely to bring many more non-UK trusts within the scope of TRS. This guide details the requirements for non-UK trusts only.
Major Sporting Events (Income Tax Exemption) Regulations 2022 for summer
In the last week, HM Treasury has issued three Major Sporting Events (Income Tax Exemption) Regulations for this summer. We outline a brief overview below.
Corporate and Private Client eNews
The latest edition of our Corporate and Private Client eNews is now available to download.
Penalties for facilitating avoidance schemes involving non-resident promoters
Following our Tax Disputes and Resolutions team’s recent article in Taxation ‘HMRC’s power to publish information about avoidance schemes’ Finance Act 2022, s 86 (read the full article here), HMRC has published guidance on penalties for facilitating avoidance schemes involving non-resident promoters, Finance Act 2022, s 91 schedule 13. The legislation introduces a new penalty […]
UK Trust Registration Service for non-UK trusts
The Trust Registration Service (TRS) is a register of the beneficial ownership under trust arrangements. The requirement to register trusts started in 2017 and its scope widened considerably on 6 October 2020. These latest changes are likely to bring many more non-UK trusts within the scope of TRS.
Trust Registration Service for UK trusts
The Trust Registration Service (TRS) is a register of beneficial ownership under trust arrangements. The requirement to register trusts started in 2017 and its scope widened considerably on 6 October 2020. These latest changes are likely to bring many more UK trust arrangements within the scope of TRS.
National insurance takings hit £157bn record
The revenue from National Insurance Contributions (NICs) has hit £157bn, the highest amount on record.
IHT receipts show year-on-year rise of £0.7bn
New HMRC data out today shows that IHT receipts for April 2021 to March 2022 were £6.1 billion – £0.7 billion higher than the same period a year earlier.