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8qcv6Sea
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Answer
Written answer
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hw6z0HK0
answer has answering person
John Philip Glen
answer text
<p>The Government engaged with both the European Commission and EU Member States (including those holding the rotating Presidency of the EU Council) on expanding national registers of trust beneficial ownership as part of the negotiations of the Fifth Anti-Money Laundering Directive (5AMLD).</p><p> </p><p>5AMLD requires an expansion of the scope of such registers from ‘trusts with a tax consequence’ to all express trusts and non-EU trusts which acquire real estate or have a business relationship within the EU. Access to this register will also be extended to firms regulated for anti-money laundering purposes, and those with a legitimate interest in the information.</p><p> </p><p>5AMLD has a transposition deadline during January 2020. This falls within the implementation period, and so the UK will transpose this Directive. The Government will consult on the transposition of the Directive in due course.</p>
answer given date
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HM Treasury
written answer has answering body
HM Treasury
HM Treasury
answering body has written answer
8qcv6Sea
answering body has answer
8qcv6Sea
hw6z0HK0
question has answer
8qcv6Sea
John Philip Glen
answering person has answer
8qcv6Sea