Latest Guernsey STEP lecture success

Tuesday 09 February 2010

More than 100 professionals turned out for the latest performance in the Society of Trust and Estate Practitioners (STEP) lecture series, sponsored by Collins Stewart.

The lecture took the form of a pantomime titled Know-how for sale - UK tax - to avoid or not to avoid - that is the question.

The script, which covered matters of UK tax avoidance and evasion, was the work of STEP examiner and solicitor Mike McKean who also joined fellow actors Michael Sproule of AFR Advocates and Russell Clark, Carey Olsen Fiduciary Law Group partner, in their performance. The pantomime was devised to address issues which might be regarded as technical and “dry” in a novel and memorable way.

Dawn Tindall of Bourse Trust introduced the three professionals and encouraged audience participation at the evening event.

The scene was set in the London office belonging to George Parr, a dubious tax adviser, who was kept in line by the ever-correcting, officious accountant, Mr Genie. The pair discussed the details of legitimate tax mitigation while attempting to suggest the most appropriate options for Mr McNeedadvice, a UK resident and domiciled client.

The topics of tax avoidance, evasion and efficiency were explored with an insight into the rules set out by Her Majesty’s Revenue & Customs, the ‘transfer of assets abroad’ regime, the stance of the Guernsey Financial Services Commission to participation in tax avoidance schemes and the question of the nature and effect of “domicile” for tax purposes.

Russell Clark, said: ‘Mike's idea of presenting detailed information in a, hopefully, memorable way was inspired. It was the first pantomime I have ever seen with people taking notes and also the first time where we were actually encouraged to over act and ham up our presentation skills.’

At another event in the series the lunchtime lecture, with Simon Savident, Guernsey Trust Company Limited managing director and STEP Guernsey committee member, an expert in trusts and company administration, highlighted some of the key features of company structures, which attracted an audience 110.

Head of Collins Stewart in Guernsey, Charlie Roger, said: ‘The January evening lecture attracted a tremendous turnout and received a lot of interest as the script engaged the audience by challenging and entertaining. The Guernsey STEP lectures provide an excellent course in practical trust and company administration and we look forward to welcoming guests to the February lectures.’

London-based lawyer Suzanne Reisman will give a US tax update at the Thursday 25 February evening lecture. STEP examiner Michael McKean will focus on Trust and Company Administration at the Friday 26 February lunchtime STEP lecture.

To reserve seats please email Fiona Roberts on fionaroberts@newtelsurf.com. The price to attend is £20 for STEP members, £30 for non STEP members and £10 for students.