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The new service will provide a single online facility for trusts and estates to comply with their registration obligations.
HMRC will introduce an online system to administer the trusts register in 2017.
The new service will provide a single online facility for trusts and estates to comply with their registration obligations.
It will provide a single point of access to register and update records online, replacing the paper 41G form and the ad hoc process for trustees to notify changes.
It will also improve the processes on the administration of trusts, and allow the Revenue to collect and hold up-to-date information in a central register.
As well as implementing the requirements of article 31 of the EU Fourth Anti-Money Laundering Directive, the register will be in keeping with HMRC’s digital strategy and provide greater tax transparency.
