Solidarity through volunteering: the power of positive change

International Volunteer’s Day, which is on 5 December, is fast approaching. Its theme of solidarity through volunteering chimes with the vital role that volunteers play within STEP. This day is the ideal occasion to thank our volunteers. We would be nothing without our members who volunteer their time and energy to make the organisation a… Read More Solidarity through volunteering: the power of positive change

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

How cross-sector collaboration clarified life and health trusts registration protections

The 1 September deadline has passed for registerable trusts, simplifying the timescale to the same 90 days for all nontaxable trusts. It seems a good time to highlight other simplifications, affecting trusts of insurance policies, which may not be immediately apparent.… Read More How cross-sector collaboration clarified life and health trusts registration protections

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

US Supreme Court to rule on conflict relating to how to prevent US persons with overseas accounts from circumventing US law

The US Supreme Court has announced that it will adjudicate a conflict between federal appellate courts about how to compute the non-willful penalty for a taxpayer failing to file form 114 from the Financial Crimes Enforcement Network (FinCEN) of the US Treasury. This form is known as the Report of Foreign Bank and Financial Accounts… Read More US Supreme Court to rule on conflict relating to how to prevent US persons with overseas accounts from circumventing US law