The impact and implications of the UK’s proposed new Non-Natural Persons rules will be the subject of discussion at a seminar being held by accounting firm, Mazars, at the Pomme d’Or Hotel on Wednesday 19th December.
The seminar, which is free to attend and open to members of Jersey’s finance industry, will look at whether Jersey’s trust and fiduciary companies need to act in advance of the implementation of the rules, and if so, what they will need to do.
More information about the rules is expected to be available in the draft Finance Bill which will be published on December 11th with the implementation of the new regulations happening on April 5th 2013.
“The effect on Jersey’s finance industry could be significant,” said Paul Barham, Senior Tax Manager at Mazars. “Although it is not yet clear just how the new rules could affect island businesses, there may be a need to modify some property holding structures. We will be in a position to know more after the Autumn Budget statement and the publication of the draft Finance Bill. It is this information that we will analyse in our seminar on December 19th.”
One certainty is that trust and fiduciary firms will have a duty of care to let their clients know about the changes and how they will affect their property holdings.
“The seminar will be ideal for finance professionals who want a comprehensive overview of the changes and to know just how their business will need to adapt in order to accommodate the new rules,” said Paul Barham.
The seminar starts at 0830 hrs on Wednesday 19th December at the Pomme d’Or Hotel. Admission is free but delegates should register by emailing Nicola.Dando@mazars.je.
Category: Finance & Business