The UK Autumn Statement – will inheritance tax proposals re-surface?

There has been a great deal of speculation in relation to potential tax measures that could be announced at the Autumn Statement on 17 November. It has been reported that that the Treasury has been working on a range of options for cutting or abolishing some tax reliefs for the Chancellor, Jeremy Hunt, to consider.… Read More The UK Autumn Statement – will inheritance tax proposals re-surface?

STEP disappointed by government inaction on reforming legal protections for cohabiting couples

The UK government has rejected a call from a cross-party Commons Select Committee to reform law for cohabiting couples. The Women and Equalities Committee called for reform to family law in England and Wales to better protect cohabiting couples and their children from financial hardship due to separation. The Committee holds the government to account… Read More STEP disappointed by government inaction on reforming legal protections for cohabiting couples

HMRC introduces new Trust Register Service processes

HMRC has introduced new processes for trustees and their agents to register trusts on the Trust Register Service (TRS) in the UK which will be implemented on 1 September 2022.   Deadlines for registering a trust The deadline for registering most trusts on the TRS is 1 September 2022. More information on the trusts that need to… Read More HMRC introduces new Trust Register Service processes

England and Wales Law Commission consults on reforming the law relating to digital assets

The Law Commission of England and Wales published a consultation paper on 28 July seeking views from legal and technology experts in order to examine how existing personal property law should apply to digital assets. The UK government has asked the Law Commission to make recommendations for reform to ensure that the law is capable… Read More England and Wales Law Commission consults on reforming the law relating to digital assets

Older people need connection, not just physical safety

The UK-based Mental Health Foundation organises Mental Health Awareness Week, which this year has the theme of loneliness. STEP is acutely aware of the impact of loneliness on not just people’s emotional well-being but also their financial security. We covered the issue of predatory marriage in a recent issue of the STEP Journal. Older people… Read More Older people need connection, not just physical safety

European Council imposes fifth package of sanctions against Russian trusts

In light of Russia’s continuing war of aggression against Ukraine, the European Council (EC) has imposed a fifth package of economic and individual sanctions against Russia on 8 April 2022. This blog explains the purpose of these sanctions and the actions that EU practitioners who are involved in Russian trusts need to take as a… Read More European Council imposes fifth package of sanctions against Russian trusts

HMRC releases report on its review of powers to uphold its standard for agents

The UK’s HM Revenue and Customs (HMRC) has recently published a review of its powers to tackle poor agent behaviour and uphold standards for its agents. This follows an HMRC call for evidence in 2020 about raising standards in the tax advice market, which STEP responded to. STEP also replied to the consultation through the… Read More HMRC releases report on its review of powers to uphold its standard for agents