Private funds to benefit from streamlining
From 18 April 2017 Jersey will implement a new Jersey Private Fund (JPF) regime that will essentially streamline two previous regimes into a single, more effective solution for clients.
Residency changes bring an about turn on de-enveloping
How HMRC applies residency rules post April 2017 will have a big impact on the tax status of offshore trusts, according to Hazel Johnson of Moore Stephens. Johnson was speaking at the recent BL Guernsey Trusts Conference and outlined the new rules that trust practitioners need to be aware of for offshore trusts with onshore assets.
Beware the taint
Tainting will be a major theme for trust practitioners under the new HMRC rules for offshore trusts. At the recent BL Guernsey Trusts Conference Moore Stephens’ Hazel Johnson joined Carolyn Steppler from EY to discuss issues for tax and taxation in the world of trusts.
Changing world for trusts
How will global demographics affect the trust industry? That was the question posed by Andrew Holden of XXIV Old Buildings at the recent BL Guernsey Trusts Conference. Headline information on demographics shows a population explosion around the world and, significantly, more people now live in urban than rural areas.
Trustees have a duty of care to their clients, and this is never more pressing than when discussing the issue of fraud and the financial abuse of the vulnerable. Professor Robin Jacoby of Oxford University addressed the recent BL Guernsey Trusts Conference on this topic, comparing practice in the trust sector with that of the act of making a will.
Is the clock ticking for trusts?
Are trusts a thing of the past or can they adapt and thrive in the new international finance landscape? This was the topic for debate at the recent BL Guernsey Trusts Conference, and the subject of the first panel event featuring lawyers from Walkers and Mourant Ozannes alongside senior tax manager Paul Beale of KPMG.
New HR Manager for Moore Stephens
Michala Wright has been appointed as the HR manager at Moore Stephens (Jersey) Limited.
Are foreign domicile of choice residents being punished?
What makes you a UK resident? Many would think this is pretty straightforward, but, as Emma Chamberlain of Pump Court Tax Chambers noted in her presentation to the STEP Autumn Tax Conference recently, it can be the cause of much hand-wringing among private client advisors.
Residence tests – do them backwards!
It has been three years since HMRC introduced statutory residence tests and there is still some confusion over the best way to help clients through them.
Is your inheritance tax arrangement contrived or abnormal?
Contrived or abnormal? What does that mean? John Barnett of Burges Salmon noted at the recent STEP Tax Conference that these words were being used more often to describe tax affairs, primarily to identify schemes where unusual lengths have been gone to in order to avoid tax.
Moore Stephens appoints new CEO
Angus Taylor has been appointed chief executive officer at Moore Stephens (Jersey) Limited, the newly formed holding company for all of Moore Stephens’ businesses in the island.
Inadvertent imports now a concern for private client professionals
Unintended changes in tax status should be at the forefront of private client advisors minds, according to several speakers at the recent STEP Annual Tax Conference.
Jersey Wins WealthBriefing GCC Region’s IFC Award
Jersey has won the ‘International Finance Centre – Editor’s Award’ at the WealthBriefing GCC Region Awards 2016, underlining its credentials as one of the world’s leading international finance centres.
New business structure introduced at Moore Stephens
Moore Stephens in Jersey has announced a new business structure taking effect from October of this year.
Jersey awarded 'Best International finance Centre'
Jersey has been named ‘Best International Finance Centre’ at the International Fund & Product Awards in London.
Non Doms – a summary and update by Hazel Johnson, Associate Director, Private Client Tax, Moore Stephens London
The new rules for the taxation of non UK domiciliaries were promised to us well in advance of 6 April 2017 - the date from which they will apply - so that UK resident taxpayers would be able to plan for the transition to the new regime.
Investors’ relief: will you qualify for a reduced tax rate?
Investors' Relief (IR), a new capital gains tax relief introduced in the 2016 Finance Bill, provides some individuals (and in certain circumstances, trusts) with a reduced tax rate of 10% on the disposal of shares.
Profile: Angus Taylor
Our Head of Trust & Corporate, Angus Taylor was recently interviewed by Moore Stephens London’s Family Office publication, Wealth Wise. He told them how he is keen to serve more international clients from around the world.
ESMA underlines Jersey's European market access certainty
Jersey’s strong position as a jurisdiction for marketing alternative investment funds into the European investor market has been further underlined through an announcement by an EU body that supervises funds activity.
Clients will drive the adoption of digital in the trust sector
Whether or not trust companies adopt digital communication in the way they conduct business will depend on the way their clients expect them to engage, according to David Vieira or JTC Group.