Entries are open for the 2017/18 STEP Private Client Awards until 28 April 2017. The Awards are widely acknowledged as being one of the premier events in the private client industry calendar. Winning an Award is also a very clear and recognised hallmark of excellence. How then, do you go about winning an Award? Enter… Read More How to win a STEP Private Client Award
HMRC hosted another Charities CRS working group on 16 January. The following issues were on the agenda for discussion: Anti-Avoidance Rules HMRC would like to refine its currently broad regulation regarding anti-avoidance. It is scheduled to discuss it with the compliance team shortly. It will also be reviewing the anti-avoidance issues surrounding donations channelled through… Read More CRS and Charities: January 2017 update
UK HMRC has confirmed today that firms that advise their clients on the establishment of offshore companies or trusts may receive pre-Notice letters this month. The letter requests that advisors come forward and volunteer the following information to HMRC: name and address of the client, the entity details (name, jurisdiction, date of registration) and details… Read More Are you a Trust or Company Service Provider under Schedule 23?
The past few months have seen some big changes at STEP. While we have announced them all separately, I thought it might be helpful to provide a summary of what’s what. First, it is a great honour and privilege to be writing this as the new worldwide Chair of STEP. I was elected in October… Read More New Year, new line-up
The UK Client Notification Regulations came into force on 30 September 2016 and the obligation for practitioners to notify any clients with offshore accounts and assets must be met by 31 August 2017. The objective of the Regulations is to ensure that clients have advance warning that HMRC will soon begin to automatically receive data… Read More The UK Client Notification Regulations – what is your obligation?
Six months ago we were all stunned at Brexit. Now we are also wondering how a Trump presidency will unfold and what further shocks national electorates may give across Europe, given the various elections ahead. STEP is monitoring the situation closely and is in discussions with other relevant professional bodies as well as maintaining lines… Read More STEP England & Wales Biannual Statement – December 2016
STEP has published Offshore Perceptions, a major new piece of research looking at the current state of the offshore world. It paints a picture of a sector adapting rapidly to a new regulatory and institutional environment. It also confirms that measures designed to tackle abuse by a few, are actually having a major impact on… Read More What next for offshore?
STEP hosted its annual Special Interest Group (SIG) Spotlight Sessions on 14 November in London, a day comprising six conference streams. SIGs provide opportunities for members to connect and advance their focused area of practice. I attended the International Client SIG session, which focused on the needs of practitioners serving international clients with complex planning… Read More STEP puts CRS, transparency and public registers under the SIG spotlight
HMRC hosted another Charities CRS working group on 12 October. The following issues were on the agenda for discussion: Human Rights Guidance HMRC has been collecting examples from the working group to increase transparency and address concerns where the exchange of information could put individuals at risk. Its new guidance has addressed some of these… Read More CRS and Charities October update
STEP hosted the last in this autumn’s series of Annual Tax Conferences on 21 October in London. Some outstanding STEP members spoke on topical matters including John Barnett TEP, Emma Chamberlain TEP, Robert Jamieson TEP, Edward Stone TEP, Paula Tallon and Chris Whitehouse TEP. Emma Chamberlain provided a much needed update on deemed domiciliaries –… Read More STEP Annual Tax Conference looks at deemed domiciliaries
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