Author: Lucy Reeve

Trusts in corporate transactions: new guidance on when obligations apply

The Law Society of England and Wales has published guidance on when trusts arising in corporate and commercial transactions must be registered under HMRC's Trust Registration Service. The guidance sets out types of trust which commonly arise together with any exemptions which are likely to apply. In a few cases (notably shares held by a UK nominee) there is unlikely to be an exemption, and registration will be required. The guidance also gives information on the record-keeping obligations that apply to trustees.