AABA How Jersey shot itself in the foot: an analysis of the implications of the Trusts (35 pages)

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> States debate - 30th January, 2007
> Latest lodging debate - 19th December, 2006
> Law drafting complete - mid-October, 2006
> Law draft to you - mid-October, 2006
> Law draft to Scrutiny and selected professionals once you give approval - 3rd / 4th week
October, 2006
> 'Fallout' from consultation on law draft and subsequent iteration with Law Draftsman -
2nd / 3rd week of November, 2006>
> Finalise law draft - end November, 2006
>
> Julian - I'm not sure if Scrutiny know when they are going to receive the draft 0 / 10 law
draft so if Terry agrees it might be as well to give them some indication as above.
>
> We are on track with 0 / 10 and I anticipate only two real areas of potential difficulty.
The first is the 'tick the box' regime on which please see the attached alternative scenarios
for you consideration. The second is the Trusts (Amendment No. 4) (Jersey) Law 200- and in
particular para 9A. on powers reserved by settlor. This could be problematic for tax
purposes and needs to be considered carefully as it seems to me that there could be tax
avoidance through this mechanism.
>
> Perhaps we could discuss both these issues in due course.
>
> << File: TICK THE BOX.doc >>
>
> Regards,
>
> Malcolm
>
> Malcolm Campbell BA., FTII., FCMI
> Comptroller of Income Tax
> Tel : 00 44 0 1534 440307
> Fax : 00 44 0 1534 789142
> Mobile : 07797 752702
> E-mail : m.campbell1@gov.je
> Website : <<www.gov.je/taxmoney>>
>
>
>
>











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