News: May 2016

Trustees and the Common Reporting Standard (CRS)

19 May 2016

As if FATCA wasn’t enough, UK trustees will have to get to grips with two new reporting regimes next year – the CRS and the European Directive on Administrative Cooperation, or DAC. The DAC is how the OECD’s Common Reporting Standard (CRS) will be implemented by the EU and will affect EU Member States. There […]

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Pension death benefits and spousal bypass trusts: time to review

5 May 2016

April 2015 saw another radical overhaul of the taxation of UK pensions on death. Gone is the 55% tax charge on payment of a lump sum death benefit after death, if the pension member either died after their 75th birthday or died pre-75 having already entered into drawdown. Instead, pension payments from a money purchase […]

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