In their coverage Civil Society has featured comments made by Lucy Rhodes, Associate at Bates Wells, which delve into how charities will be affected by the requirement that all charitable trusts must now register with the new Trust Registration Service (TRS).
Explaining the aims of the 5LMD, Lucy states that the legislation “offers no scope for carve-outs, exemptions or de minimis thresholds”. She goes on to say that “it will therefore apply to all charitable trusts, irrespective of size. Thousands of small charities not currently required to register with the Charity Commission or HMRC will be hit with a new layer of regulation.”
Lucy’s comments were taken from an upcoming article that she has written for Charity Finance, which explores the wider significance of the 5MLD for the charities sector. For those who are keen to read more of Lucy’s thoughts on this topic please note that this piece will be published later in September.
In the meantime, if you’d like to read more of the Civil Society piece that focuses on Lucy’s comments, you can find it here.
This information is necessarily of a general nature and doesn’t constitute legal advice. This is not a substitute for formal legal advice, given in the context of full information under an engagement with Bates Wells.
All content on this page is correct as of September 4, 2019.