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STEP Journal December 2019 - January 2020

STEP Journal December 2019 - January 2020

Welcome to the December/January edition of the STEP Journal. As EU Member States gear up to implement tighter transparency measures, we explore some of the challenges and benefits in this issue including the creation of beneficial owner registers in Cyprus, the implementation of DAC6 and its impact on cross-border insurance-based tax planning, and the risks of improper beneficial ownership reporting in Poland. This issue has a regional focus on Europe, exploring the use of LPAs for mental capacity across borders and looking at key tax issues for collecting art in Italy and France. The Insurance and Compliance special focus details bank reporting for Russian clients and anaylses US income taxation of life insurance death benefits fort estate planners. We also examine the recent England and Wales High Court case of Scarle, and explore the preservation of tattoos after death.

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Regional Focus: Europe
Helen Swire is News Editor at STEP.
Berardo Lanci and Adea Meidani outline the key tax issues for advisors related to collecting art in Italy and France.
Issue Focus: Insurance and Compliance

Disclosing DAC6

Simon Gorbutt discusses the EU's DAC6 and how its implementation impacts cross-border insurance-based tax planning.
Features

Whose skin is it anyway?

Julia Burns and Matthew Watson consider the implications of new services in England and Wales allowing individuals to preserve tattoos after death.

Professional Development
Meg Saksida identifies the complications that may arise when completing an R185 form in England and Wales.