Compliance and Regulatory Consulting
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Ed Shorrock, director in the Jersey Compliance and Regulatory Consulting practice at Duff & Phelps, explains the significance of HMRC’s latest regulation requiring Jersey trustees to register records of beneficial ownership.
As Ed explains, “trustees of taxable relevant trusts (trusts where the trustees are liable to pay any of the main UK taxes, such as income tax capital gains tax, inheritance tax or stamp duty) need to provide HMRC with certain information on beneficial owners and potential beneficiaries.”
The full article is available on BL Global.