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Introduction: The Society of Trust and Estate Practitioners

The Society of Trust and Estate Practitioners is the leading worldwide professional body for practitioners in the fields of trusts, estates and related issues. It is a unique global body which provides its members with a local, national and international learning and business network focusing on the “responsible stewardship of assets today and across the generations.”

STEP members help plan family successions and to navigate the complex laws and tax rules surrounding trusts, estates and inheritance.

Founded in 1991 by George Tasker, a senior trust manager with a big five UK accountancy firm, STEP was initially intended to be a discussion forum for the profession in the UK. However, since its first meeting in London, the organization has grown rapidly and STEP now has more than 14,500 members in 66 countries, ranging from the US and the UK to New Zealand and Mauritius. STEP branches can be found in 33 countries in Europe, Asia, North America, the Caribbean, Central and South America and Australasia.

STEP provides education, training, representation and networking for its members. Members advise clients on the broad business of the management of personal finance. Full members of STEP are the most experienced and senior practitioners in the field of trusts and estates.

STEP supports a wide-ranging education and training programme and more than 3,500 students worldwide are currently studying for STEP qualifications. STEP members are subject to a rigorous code of professional conduct and the public can identify if their adviser is a STEP member by the use of the designation TEP (Trust and Estate Practitioner) after their name. STEP also actively promotes continuing professional development among its members through briefings, publications, special interest groups, courses and seminars.

Although politically non-aligned, STEP campaigns for fair, transparent and consistent tax rules so that families making long-term plans have “clear tax rules that do not change repeatedly if they are going to have the confidence to enter into long-term commitments.” One recent notable example was STEP’s highlighting of the potentially damaging impact of proposed changes to the UK rules on the taxation of non-domiciled taxpayers, giving technical evidence to a House of Lords Committee and securing significant changes in legislation. STEP has also worked closely with the European Union in ensuring that proposed changes to the EU Savings Directive are “robust and practical for professional advisers to implement.” In addition, STEP has been with several jurisdictions on the practical implementation of the G20/OECD programme for improved international tax transparency.

The Report

Offshore Trusts Guide: Introduction

Offshore Trusts Guide: Jurisdictions

Bahamas Barbados Bermuda British Virgin Islands Cayman Islands Cook Islands Cyprus Gibraltar Guernsey Isle of Man Jersey Liechtenstein Madeira Malta Mauritius Monaco Nevis New Zealand Panama Seychelles Turks & Caicos Vanuatu


Offshore Trusts News

Switzerland A Step Closer On Corporate Tax Reform
Friday 21/9/2018
The two houses of Switzerland's parliament have said that they are largely in agreement on the main points of the Government's proposed changes to the corporation tax system.

Australian PM Planning New SME Tax Changes
Tuesday 4/9/2018
Australia's new Prime Minister has said his Government is working on plans to help improve the tax competitiveness of small businesses.

Netherlands Ponders New Aviation Tax
Monday 16/7/2018
The Dutch Government has begun a public consultation exercise on plans to introduce a new tax on air travel by 2021.

Australian Tax Changes Effective From July 1
Friday 6/7/2018
The Australian Government has set out the numerous changes made to the tax system on July 1 and launched a consultation on new tax rules for "stapled structures."

IMF Urges US To Hike Indirect Taxes
Friday 6/7/2018
The International Monetary Fund has recommended that the United States raise indirect taxes to boost revenues, to offset the cost of recent tax cuts and spending increases.

Pakistani Tax Amnesties Extended Until July 31
Monday 9/7/2018
Pakistan's Government has approved a one-month extension to tax amnesties for companies and individuals, which were due to end on June 30, 2018.

OECD Welcomes Dutch Efforts To Counter BEPS
Wednesday 4/7/2018
The OECD has welcomed efforts by the Dutch Government to tackle base erosion and profit shifting but called for the overall tax regime to be simplified, including in area of value-added tax.

Australian Gov't Delays Company Tax Vote
Sunday 1/7/2018
The Australian Government is to postpone a Senate vote on its company tax cuts until after July's by-elections.

Skilled Foreigners Being Turned Away For UK Visas
Monday 18/6/2018
Lower-paid medical practitioners are increasingly having their request for UK working visas rejected, as a result of immigration quotas.

Seychelles Introduces Progressive PIT Regime
Thursday 21/6/2018
The Seychelles introduced a new progressive income tax system for individuals on June 1, 2018.