News & Views

Moore Stephens has brought together its audit teams across the Channel Islands under the leadership of Phillip Callow in his extended role as Head of Channel Islands Audit and Assurance.

 Moore Stephens has made two promotions in its Guernsey office, a clear indicator of the way we develop our employees and help them progress in their careers. Managing director of Moore Stephens Guernsey, Sam Bird, said the promotions were a significant step for the team: “Making promotions is always rewarding so we are thrilled that Sam and Kim will be continuing their careers with us and adding to their experience and knowledge as they make the step up to manager level.”
 

Brona Lambert to lead Moore Stephens’ Accounting and Business Services division in the Channel Islands

Debie Mingi has been promoted to Audit Manager within Moore Stephens Jersey office.

Following the recent news that the value of regulated funds under administration in Jersey has reached record highs in excess of £300bn, the islands regulator, the Jersey Financial Services Commission has released data on the rise in  the number of alternative fund managers choosing to market their funds through national private placement regimes (NPPRs), reports Jersey Finance.
 

Moore Stephens has appointed Richard Geary as senior manager in their Funds Services division.
 
Based in Jersey, Mr Geary will lead the offshore funds team with a focus on real estate and private equity, working with a cross-section of clients, from global institutions and sovereign wealth funds through to international family offices.
 

Moore Stephens today announced some recent promotions within their Trust & Corporate team in Jersey with the appointment of Billi-Jean Brown as Associate Director with oversight of the Trust & Corporate administration team.
 
Also within Trust & Corporate, Emma Cotillard has been promoted to Section Head and Charlotte Black to Trust Administrator.

The recent passage of the Tax Cuts and Jobs Act (TCJA) in the USA has resulted in significant changes to the advice and guidance being given by tax advisors around the world, including in the Channel Islands.
 

The latest figures collated by Jersey’s regulator, the Jersey Financial Services Commission, show the value of regulated funds serviced in Jersey exceeding £300bn for the first time in 2018, reports Jersey Finance.
 
 

A decision by Moore Stephens LLP London to merge with BDO will not directly affect Moore Stephens in the Channel Islands

Following the changes to the taxation of non-UK domiciled individuals from 6 April 2017, certain offshore trusts enjoy protected status. If you have a settlor interested offshore trust (i.e. where you or certain family members can benefit), you need to take care to preserve this protected status – or face potentially significant tax costs.

Jersey artist Oliver Killip has featured in an exhibition at London’s Saatchi Gallery – celebrating the launch of a new book; “Cash is King – The Art of Defaced Banknotes”.
 

New legislation in Jersey that will enable the establishment of Limited Liability Companies (LLCs) is set to make the island a more attractive proposition for pan-Atlantic business.
 

Risk assessment is key to successful investments, and operational risk should feature high on the list.  Assessing the operational risk of potential and current investments helps wealth funds to protect their assets and ensure future investment returns.

On 23 July 2018, the Department for Business, Energy and Industrial Strategy (BEIS) published in draft the ‘Registration of Overseas Entities Bill’, setting out provisions to establish a new beneficial ownership register of overseas entities that own UK property. 

In the last couple of years, there have been a significant number of changes to the tax rules in the UK, which have resulted in a widening of the scope of UK inheritance tax - read more.

The Jersey Financial Services Commission (JFSC) has launched a ground-breaking online application tool for Jersey Private Funds (JPF).
 

Finding people with the right skills is the top priority for technology businesses, with 46% of tech respondents to the Moore Stephens annual survey of owner-managed businesses reporting it as their number one concern.

A new Double Taxation Agreement (DTA) signed between Jersey and the UK has been welcomed by Jersey Finance as a further demonstration of the island’s commitment to international standards.

Following the end of the tax year on 5 April, many long-term non-doms (broadly speaking, those who have been UK-resident for 15 years) will be completing a tax return on a worldwide basis for the first time.