Trusts & the TRS Update - A Guide to the New Rules & Practice with John Bunker
This new webinar will provide you with a complete guide to the new rules and practice, relevant to probate, conveyancing, tax planning and contentious areas of practice, which will be affected by the long-awaited update of the TRS for 5MLD.
This covers all ‘express trusts’, unless excluded, and is due to be completed by summer 2021 - which may mean September.
Understanding the exclusions is critical.
Then there is HMRC guidance, in an updated TRS manual, due for release shortly before the new system is up and running.
What You Will Learn
This webinar will cover the following:
- Probate: How is probate work affected? There is a key 2-year period post death, so how does that work, and which trusts are excluded anyway? How do property trusts set up by will work for TRS?
- Conveyancing is affected by the limited exclusion for ‘co-ownership’ of property, bringing into TRS many properties that do not have substantive trusts. How will this work?
- Life policies and pilot trusts: When do you need to register these trusts and how does this impact tax planning work?
- Bare trusts and other examples where the anti-money laundering provisions operate differently from tax, as this is focussed on AML
- What information is needed? What do you need to register a new trust on the TRS? Or to update an existing trust?
- Mental capacity of clients and trustees is one of the big issues raised by the new process, so how will this work?
This pre-recorded webinar will be streamed at 12:30pm on Tuesday 14th December 2021 and will remain available to view by delegates who have registered by then for 90 days.
at your organisation