Looking back at 2015 and looking forward to 2016
Apart from the difficulties and dramas in the world, 2015 fielded two Finance Acts, suspended parts of the Care Act 2014 before they had even begun, introduced new LPA forms, brought into effect FATCA and heralded yet more regulatory transparency for trusts in the form of the Common Reporting Standard.
As usual, in some of the developments, trusts and estates are forgotten. For example:
- How is the new dividend rate to apply?
- What a mess the so called transferable ISA between spouses/civil partners has been and it is now to be changed again in 2016
- London Stock Exchange transactions in 2016 need users to have a Legal Entity Identifier but there is no provision for trusts which are not managed through a trust corporation to have such an identifier
- I therefore foresee that 2016 will see us tied up in red tape and fighting the fight for our clients whilst trying to get to grip with the most ridiculous of changes – the main residence nil rate band.
In 2015 I learned some new techniques to help me design e-learning courses for you. A short course you can view at your desk, on your mobile or i-pad. I will be working on ideas during 2016 but if any of you are interested in knowing more or would like to commission one or a series for your firm let us know.
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