40.4.1 Trusts which need to register under 4AMLD

Under 4AMLD a trust is a ‘relevant trust’ and must register through the TRS, if it is either:

a UK express trust (i.e. as distinct from a statutory, resulting or constructive trust); or

a non-UK express trust with UK source income, or UK assets, on which it is liable to pay a ‘relevant UK tax’.

A ‘relevant UK tax’ is defined as income tax, CGT, inheritance tax, SDLT, Scottish Land and Buildings Transaction Tax, or SDRT.

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