New Forest

30/10/2019

Register of charitable trusts

Earlier in the year HM Treasury consulted on its proposals on how to implement the EU’s Fifth Money Laundering Directive into UK law. One of the proposals is to extend the existing registration requirement for UK tax-paying trusts to all UK trusts whether they pay tax or not, including charitable trusts which have not generally been required to register under the current system. There would be no exceptions and no minimum registration threshold.

As part of the proposals it has been suggested that existing registration services could be used for particular trust types to avoid duplication, so those charities already required to register with one of the charity regulators should not need to register again. However, charitable trusts which currently have no obligation to register with a regulator, generally because of their small size, would now need to register.

The consultation ended in June and the outcome is awaited.

Latest Tweets

The budget is set for 11 March 2020, but what will it contain? https://t.co/m0zyQ0Pafb

The Revenue have been cracking down on tax compliance over the past year, and that isn't going to change in 2020 https://t.co/zNBFSMjYFP

Let’s Talk

Why not arrange a FREE consultation and find out what we can do for your business.