Tag: Emily Deane

STEP attends FATF Joint Experts’ Meeting on Typologies in Moscow

STEP attended the Financial Action Task Force (FATF) Joint Experts’ Meeting on Money Laundering and Terrorist Financing Typologies in Moscow late last month. STEP’s Co-Chair of its Public Policy Committee, John Riches TEP, also attended in his capacity as a trust expert. STEP was invited to participate in a ‘Challenges of establishing beneficial ownership’ round… Read More STEP attends FATF Joint Experts’ Meeting on Typologies in Moscow

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HMRC consultation on 4AML implementation

HMRC invited STEP to attend a consultation on 30 March regarding the UK’s implementation of the EU Fourth Anti-Money Laundering Directive (4AML), in particular in relation to the requirement to implement a central register of trusts. The consultation was hosted by HMRC’s Policy Specialist, Tony Zagara, and focused on Article 31 – trust beneficial ownership.… Read More HMRC consultation on 4AML implementation

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CRS and Charities: January 2017 update

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

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Are you a Trust or Company Service Provider under Schedule 23?

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?

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The UK Client Notification Regulations – what is your obligation?

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?

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STEP puts CRS, transparency and public registers under the SIG spotlight

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

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