UK online trust registration service is delayed

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The HMRC in the UK has announced that its Electronic Trusts Registration Service will not be ready for introduction in June as originally anticipated. The launch was envisioned to overlap with the implmentation of the EU’s Fourth Money Laundering Directive regarding Beneficial Owner registration requirement into UK legislation this week. The HMRC says it is working hard to achieve an effective service in place shortly for leading trustees and personal representatives, who will now have until the 5th of October 2017 to register new taxable trusts and until January 31st 2018 to provide data on existing trusts.