Getting some benefit from the Trust Register

Many of us are spending much time and effort in obtaining information and then submitting it to register new and existing trusts on the Trust Register.

The information registered is available to HMRC, law enforcement bodies, the UK Financial Intelligence Unit and, hopefully in the not too distant future, to agents themselves so that trust details can be updated as and when necessary.

I am sure that most agents are saving a copy of each registration, and I was wondering where else we might use the information in each declaration to save future time and effort, and gain some value from the exercise.

When trustees change investment managers for example, the Trust Register information is exactly what they normally need – do members think that investment managers should be encouraged to accept a copy of the current Trust Register Summary, which is a declaration made by the trustees, to fulfil their needs? It would certainly help trust administrators.

Andrew Robinson
Russell-Cooke LLP