Lowes Trust Registration Guide

• Description of the class of beneficiaries (e.g. – there may be classes such as settlor’s spouse, children, grandchildren etc rather than (or in addition to) named individuals). If it is a discretionary trust there will be no named beneficiaries. Therefore please state that the trust is discretionary.

(6B) Class of beneficiaries

• Unique Taxpayer Reference • Address

• Name of charity or trust • Country of residence [See Note 4]

(6C) Beneficiaries that are charities or trusts

• Business/organisation name • Country of residence [See Note 4] • Description of beneficiaries [See Note 5] • Description of the beneficiary • Country of residence [See Note 4]

• Unique Taxpayer Reference • Address

(6D) Beneficiaries that are companies or employment related

(6E) Other beneficiaries (those that cannot be recorded under 6A-6D)

• Full name • Date of birth

• National Insurance number (UK citizens) • Passport number (Non-UK citizens) • Address - If the address is not in the UK, passport or identification card details will have to be provided.

(7) Individuals that have control over the trust

• Country of Nationality [See Note 3] • Country of residence [See Note 4] • Mental capacity

Note 1: [Whether the trust is registered on another EEA register]: This question is asking whether the trust is already listed on one of the registers in an EEA country a some of these countries have their own register of trusts. Trustees are not required to provide a reference number or other verification [The EEA includes all countries within the European Union (EU) and also Iceland, Liechtenstein and Norway]. Note 2: [Does the Trust have a business relationship with a UK relevant person]: This question is only relevant if the trust is a non-UK trust with at least one UK-resident trustee. This question is only asked if the trust has non-UK trustees or a mix of UK and non-UK trustees and a non-UK settlor. Note 3: [Nationality]: This is the country of which the individual is a national. In most cases, this is where the individual was born and where their passport is issued. Some individuals may have dual nationality and if so, selecting either country of nationality is acceptable. The only exception is if one of the countries of nationality is the UK in which case trustees must select the UK and not the other country. Where recording the nationality of a settlor who is deceased as at the date the trust is being registered, their nationality at date of death should be used. Note 4: [Residence]: Individuals - This is usually the country where the individual lives and works most of the time during the tax year. If there is any doubt, trustees can check whether an individual is UK

resident through the Statutory Residence Test (SRT). For more complicated cases where the residency of the individual changes between tax years, HMRC will expect TRS to be updated with that change once the position for that tax year has been established as part of that individual’s ongoing tax obligations. Some individuals may have more than one country of residence, as defined by the laws of each of those countries. If so, selecting any country of residence is acceptable. However, if one of the countries of residence is the UK, trustees must select the UK and not any other country. Businesses (or other organisations such as charities) - This iswherethebusiness isregisteredor incorporated. A company is treated as having UK residency for TRS purposes if it is registered with Companies House. For other businesses or organisations, select the country where the principal or main office is located. Note 5 : [Beneficiaries that are companies or employment related] This should confirm if the beneficiaries are a specific class of employees of the business. For example, ‘All current employees of X Ltd and their families’. Trustees will also need to know approximately how many individuals are in this class of beneficiaries. If the beneficiaries are specified by name or are otherwise individually identifiable (for example directors), they should instead be recorded as individual beneficiaries.

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