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Trust Quarterly Review (TQR)

A quarterly technical digital publication, the TQR provides in-depth technical analysis containing the latest papers from leading practitioners.
STEP TQR December 2018

On behalf of the Editors, welcome to the December 2018 edition of the Trust Quarterly Review. This edition casts its focus far and wide, from past to present, and to the future. The use of trusts in Latin America is discussed, tracing their history from the colonial era to the modern day. Turning to Europe, Spain’s tax treatment of trusts is examined, highlighting some of the uncertainties that surround the issue in the civil-law country, while a thorough examination of the EU-wide introduction of company and trust beneficial ownership registers and their related compliance requirements is also offered. From the UK, a discussion on the issue of professional negligence is put forward, with reference to the important White v Jones case.

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December - 2018

A welcome from the Editors. Read more

The issue of professional negligence is discussed by Teresa Rosen Peacocke TEP, with reference to the important White v Jones case, bringing readers up to speed with recent authorities and the breadth of the circumstances that may attract negligence claims. Read more

Spain is a civil-law country that has not ratified the Hague Convention of 1 July 1985 on the Law Applicable to Trusts and on their Recognition, and consequently there exists a level of uncertainty around its tax treatment of trusts. The tax issues arising from such uncertainty are addressed by Alberto Pérez Cedillo TEP with reference to three illustrative cases. Read more

Isaac Cattan offers a Brazilian perspective on the use of the trust in Latin America. This article, which won the STEP LatAm Thesis Writing Competition 2018, traces the history of the trust from its colonial-era origin to the modern day, and examines the challenges faced by practitioners in ‘demystifying’ the trust in the region. Read more

Compliance requirements have rapidly increased over recent years, and this is likely to continue with the enactment of the EU’s Fourth- and Fifth Anti-Money Laundering Directives. John Riches TEP and Samantha Morgan TEP outline the development and implications of these measures, with specific regard to the introduction of beneficial ownership registers for companies and trusts in the EU. Read more

Keith Wallace reviews A Practical Guide to the Transfer of Trusteeships, third edition, by Richard Williams TEP, Arabella Murphy TEP and Toby Graham TEP (consulting editors). Read more