Important change – Trust Registration deadline 1st September 2022
We have produced a factsheet explaining the changes to trust registration which is available on request.
Many trusts which previously did not need to register now have to do so and the deadline is 1st September 2022.
If you hold funds or assets on behalf of someone else, no matter how small, this is probably a trust. It will be the trustees’ responsibility to register it and maintain the details on the register.
Trustees who fail to register a trust on time could be liable to penalties.
If you need any advice please get in touch. We are here to help you.