In brief

Draft clauses

The government has published draft tax legislation – 40 clauses and 16 schedules – for consultation. The final contents of Finance Bill 2018-19 will be subject to confirmation at Budget 2018. The consultation closes on 31 August. See here.

Trusts

HMRC has updated its guidance on records to keep for trusts with a list of UK law enforcement authorities that can request information about the beneficial owners of express trusts. It also has more information on how long to keep details of income payments to beneficiaries.See here.

TRS

The guidance on the trust registration service (TRS) has been updated to show the types of trust that must be registered and the deadlines for doing so.See here.

Double tax

The UK government signed new comprehensive double taxation agreements and protocols with Jersey Guernsey and...