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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

Hungarian Government Submits Tax Bill
Friday 15/11/2019
On November 12, 2019, Hungary's Ministry of Finance announced that it has submitted to parliament the seventh and final part of its Economic Action Plan, which includes various tax measures.

Warren Announces US Corporate Tax And Wealth Tax Plans
Friday 8/11/2019
On November 1, 2019, the presidential campaign of United States Senator Elizabeth Warren (D-MA) published plans for a system of universal Medicare that will be partially funded by tax increases on large corporations and wealthy individuals, as well as by stricter anti-tax avoidance rules.

South Africa Launches Large Business Center
Monday 28/10/2019
On October 23, 2019, the Commissioner of the South African Revenue Service launched the re-established Large Business Centre, which aims to bring about higher levels of voluntary tax compliance among large taxpayers.

Ireland Publishes 2019 Finance Bill
Friday 18/10/2019
The Irish Government has published its 2019 Finance Bill, which introduces changes to a number of SME-targeted tax incentives and implements a range of measures announced in this month's Budget.

New Zealand Offering Simpler, Cheaper Rulings For SMEs
Friday 4/10/2019
On October 1, 2019, New Zealand's Inland Revenue began offering to SMEs and individuals a simplified tax ruling process that is shorter and cheaper.

An Update On Brazil's Efforts To Install VAT
Friday 4/10/2019
Brazil's Government must overcome a number of challenges, including assuaging the concerns of state authorities, if it is deliver on its plans to overhaul the country's complex indirect tax system.

Jersey Consults On Reporting CRS Avoidance Arrangements
Friday 27/9/2019
The Jersey Government is consulting on the implementation of mandatory disclosure rules for Common Reporting Standard Avoidance Arrangements and Opaque Offshore Structures.

Sanders Unveils US Wealth Tax
Friday 27/9/2019
United States Senator Bernie Sanders (D-VT), a leading contender for the Democratic presidential nomination, has proposed a new tax, as well as a series of enforcement measures, targeting America's wealthiest individuals.

Finnish Budget For 2020 Agreed
Friday 27/9/2019
On September 17, 2019, the Finnish Ministry of Finance announced that the Government has reached an agreement on the contents of the 2020 Budget, which includes some tax reductions for both companies and individuals.

Netherlands Planning Slower But Deeper Corporate Tax Cut
Friday 20/9/2019
On September 17, 2019, Dutch State Secretary for Finance Menno Snel presented the Government's 2020 Tax Plan to the House of Representatives. It includes revised plans for corporate tax cuts.