STEP Journal October 2009

Volume 17 | Issue 9
Student column
Amanda Edwards considers the ongoing duties of executors
A fair tax take?
Martyn Gowar on tax rates
Europe – that’s the business
Richard Frimston on the impact of succession law on SMEs
Two disclosure opportunities
Dawn Register and Michael Fernandopulle review the two new disclosure opportunities launched by HMRC and highlight the important considerations for advisors
Old game, new rules
Christian W Hafner outlines the challenges facing the future of Switzerland’s financial centre
From offshore to onshore
Dr Sibilla Cretti and Karin Rfenacht on Switzerland’s bank secrecy and the exchange of information for tax purposes
Family fortunes
Michael O’Sullivan and Ariel Sergio Goekmen consider the role of family businesses in the post credit crisis economy
The quiet revolution?
Keith Johnston considers the findings of a major new STEP report on the evolution of offshore – in particular, looking at the industry’s views on the future of bank secrecy
Trusts and insolvency
Paul Buckle looks at issues for trusts and trustees in the current economic climate
Cash box structures
Jeremy Berchem looks at a structure that enables UK-listed entities to raise equity finance quickly and economically using an offshore subsidiary
The times they are a changin’
Fred Milner and Ray Scott on prudent investment management in a changing world
A question of race
Harry Joffe considers a recent South African judgment on racially discriminatory clauses in a trust deed
Executive solution
Rose Chamberlayne explains the new Bahamas Executive Foundation
New developments
Ed Stone and Karen Corless on recent developments in Bermuda: TIEAs, OECD white list, perpetuities and residency
To disclose or not?
Lindsay Lutterman considers the factors a Cayman Islands trust should take into account when asked to disclose information to beneficiaries
Currency gain or currency pain?
Russell Cohen and Jeremy Cline explore the UK tax consequences that may arise for individuals and trustees with holdings of non-sterling currency or assests denominated in a currency other than sterling
A new judicial trend?
Andrew Rogerson discusses a landmark Canadian ruling setting aside fraudulent conveyances
FHBs (formerly known as FHLs)
Julie Butler considers the impact of recent changes to the UK Furnished Holiday Lets rules
On the buses…
Chris Young reflects on the historic approach to statutory wills in England and Wales and New South Wales and looks at guidance and direction under new legislation
Flood of recriminations
Steven Kempster and Oliver Egerton-Vernon review the decision in Jones & Ors v Firkin-Flood & Ors (2008) EWHC 2417 and the lessons it provides for trustees on monitoring and intervening in the running of underlying family business in a trust
Flawed strategy
Gerry Brown reports on Drummond v HMRC, a case involving capital gains tax avoidance using life assurance policies
Ray & McLaughlin’s Practical Inheritance Tax Planning
Martyn Gowar reviews Ray & McLaughlins Practical Inheritance Tax Planning


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