Trusts: record keeping tips and legal requirements Lee Blackshaw - - PowerPoint PPT Presentation

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Jan 21, 2024 483 likes •521 views

Trusts: record keeping tips and legal requirements Lee Blackshaw CTA, TEP, ATT (Fellow) Trusts record keeping Watch out for 10 year charges, after 2006 changes Where is the original? Who to trust IHT has copies? Any letter of wishes? Deed

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Trusts: record keeping tips and legal requirements Lee Blackshaw CTA, TEP, ATT (Fellow)

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Essentials

IHT Deed Accounts Trusts register EU 4th AML Meetings

Watch out for 10 year charges, after 2006 changes to trust IHT HMRC online requirement for trusts with tax footprint (inc SDLT, IHT, SDRT). Reg 44 of The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 Where is the original? Who has copies? Any letter of wishes? Annual, even if dormant and one page. Plus CGT holdover elections, base costs, IHT reference, next important event. Annual, to benchmark investments and meet Trustee Act 2000 requirements

Trusts record keeping

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Summary: more administrative requirements but good reasons to meet your clients lee@blackshawtax.com 07720 298442

Conclusion and questions

Blackshaw Tax Ltd is a company registered in England & Wales with company number 10051657 and registered office 43 Mayors Road, Altrincham Cheshire WA15 9RW. VAT registration number GB 236 3857 87. Blackshaw Tax Ltd does not accept liability for reliance on this presentation by attendees or other parties. Full advice should be taken subject to an agreed engagement letter and terms of business.