What are the opportunities and challenges for the year ahead - Laurence Lancaster

Laurence Lancaster, Barrister-at-Law, Group Head of Tax at Sovereign Group discussed the compliance opportunities and challenges for the year.

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1. What are the opportunities and challenges for the year ahead?

Video transcript

1. What are the opportunities and challenges for the year ahead?

From a UK perspective, we’ve got this ongoing trust register requirement. This is the requirement that trusts - and they could be overseas trusts potentially with UK income and UK gains - need to register. And the initial registration date for that was last year, the 31st of January 2018, but you may find that trusts were not aware of that and there’s this continuous obligation. Or there may have been a trust that didn’t have a requirement to register last year, but has got a requirement to register this year. So that is what I’d look out for. Also in the UK, we’ve just had this requirement to correct legislation, and that’s dribbling on and is still ongoing for this year too.

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