Test your knowledge
1) What form was used for the original trust register?
b) IHT 100
2) What trusts had to register under the 4th Money Laundering Directive?
a) All trusts
b) All express trusts
c) All express trust with a UK tax liability
d) There was no requirement
3) The trust registration obligations under the 5th Money Laundering Directive apply to trust in existence on or after?
a) 6th October 2020
b) 1st September 2022
c) 10th January 2020
d) 1st July 2017
4) Which trust does not needs to register?
a) a pilot trust recently set up with £10
b) a bare trust holding an insurance bond
c) a discretionary trust holding a "pure protection policy"
d) a trust holding money for the beneficiary when they are 18 after the death of their parents
5) Who is responsible for ensuring that trusts are registered?
a) the insurance company where the trust is invested
b) the trusts financial adviser
c) the trusts accountant
d) the trustees
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