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Media Release

STEP update tomorrow

STEP update tomorrow

Wednesday 10 February 2016

STEP update tomorrow


MEDIA RELEASE: The views expressed in this article are those of the author and not Bailiwick Express, and the text is reproduced exactly as supplied to us

Nearly 200 Trust industry professionals will be attending the co-hosted STEP Guernsey & GAT Common Reporting Standard & FATCA Update tomorrow, delivered by Jo Huxtable & Martin Popplewell of Deloitte.

STEP Guernsey is the local branch of STEP the worldwide professional association for practitioners dealing with family inheritance and succession planning, which also provides education for individuals working in Trust. GAT is the industry body of the Trust sector in Guernsey representing its member’s interest, who form over 95% of the fiduciary businesses in the Bailiwick.

"STEP and GAT ran a similar event on FATCA and CRS in 2015 which was a sell out with excellent feedback. We thought that such is the impact of, and interest in, CRS that it would make sense for STEP and GAT to join forces again and ask Deloitte to update the fiduciary industry on this subject. Ticket sales to date would suggest that this event is again likely to be a sell out and I would urge members who are interested to book promptly if they want to guarantee a place,” said Alasdair McLaren, Chairman of STEP.

The Foreign Accounts Tax Compliance Act (‘FATCA’) is a significant step in improving global tax compliance relating to US investors and is a complex, recurring theme affecting the finance industry locally. The Common Reporting Standard known as “CRS”, was introduced by the OECD to look at this issue from a high level and creates a standard for the automatic exchange of information globally.

"STEP and GAT recognise the importance of this subject and that the event is of such importance that we wanted to ensure it reached as wide an attendance as possible. If there is anyone out there who still believes that CRS is just a replication of FATCA then they need to come to this event," said Mark Pattimore, Chairman of Guernsey Association of Trustees.

Places are limited but still available book via GAT: www.guernseytrustees.org/gat-event or e: info@guernseytrustees.org or call t: 01481 266281. 

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