The UK is proposing to make trusts provide more beneficial ownership information to the government as part of a tightening of anti-money laundering rules.
His Majesty’s Treasury released draft regulatory changes Tuesday that would expand the types of trusts that need to register with His Majesty’s Revenue and Customs and share information about their ultimate owners.
Trusts that are low-value or low-risk and trusts related to estate administration could make use of proposed new exclusions, the Treasury said in a note accompanying the draft changes.
The amendments would improve transparency over who ultimately owns trusts with “significant UK ...
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