Bermuda has taken a landmark step in modernising trust law with the enactment of the Trustee Amendment Act 2025, which provides trustees with long-needed clarity around responsible investing. The reform was driven by Bermuda’s industry in association with STEP and the Bermuda Business Development Agency, led by Gina Pereira TEP of Dana Stewardship Advisory. The… Read More A model for jurisdictions: Bermuda trust law reform
In 2025, STEP’s policy and technical work delivered significant legislative and regulatory outcomes across the globe. Through expert engagement and strong collaboration with policymakers, STEP has helped shape law reform, improve fiduciary practice and protect families and beneficiaries worldwide. Trust reform in Bermuda As part of STEP’s positive impact trust reform work we continue to… Read More STEP Policy Round-Up 2025: delivering global impact
In this blog Emily Deane TEP, Technical Counsel & Head of Government Affairs at STEP, discusses the changes announced in the UK Budget and the impact of STEP’s recommendations on key issues. The UK Budget has delivered some significant developments for the inheritance tax (IHT) regime with measures to be legislated in the Finance Bill… Read More UK government makes major IHT changes that reflect STEP recommendations
In this blog Emily Deane TEP, Technical Counsel & Head of Government Affairs at STEP, explores how a new EU Regulation relating to cross-border issues affecting vulnerable adults will interact with the Hague Convention. STEP attended a conference recently in Milan that was organised by the Università Cattolica del Sacro Cuore. Speakers from the European… Read More The new era for adult protection in Europe
The Law Commission has today published its recommendations to reform the law of wills in its Report: Modernising Wills Law . The report includes a draft Bill for a modern Wills Act to replace the Wills Act 1837. This marks a historic change to wills law in England and Wales – the first in nearly… Read More New report heralds first changes to wills law in England and Wales since 1837
In February 2025, the Register of Overseas Entities (Protection and Trusts) (Amendments) Regulations were approved by the UK parliament. These Regulations enable Companies House to grant, upon application, access to trust information that was previously restricted. Many of the provisions have already entered into force, but key changes will apply from 31 August 2025. The… Read More Public access to trust information via the Register of Overseas Entities
At STEP, we know audits are an essential part of ensuring compliance, maintaining high standards and building trust. But let’s be honest – traditional audit processes weren’t always the easiest for members. Relying on manual forms, fragmented systems and time-consuming processes could make Continuing Professional Development (CPD) compliance feel like a chore. That’s why we’ve… Read More Smarter audits: how STEP is making CPD compliance simpler for members
The UK government’s incoming reforms to agricultural property relief (APR) and business property relief (BPR) has stunned generational farming families who now face uncertainty as to how the increasing inheritance tax (IHT) burden will impact the long-term viability of their estates. While these reforms aim to refine the tax system, they have sparked significant questions… Read More APR and BPR policy changes – a cause for concern for family estates
The STEP Private Client Awards stand as a benchmark of excellence in the wealth and private client industry, recognising the dedication, expertise and innovation of firms and professionals worldwide. Having the privilege of serving as a judge for the first time this year, I am eager to see how practitioners and firms continue to push… Read More Navigating the STEP Private Client Awards: Insights from a Judge
It has been a busy start to 2025 for STEP’s UK Technical Committee, which, has diligently articulated several key technical considerations to HMRC regarding the proposed abolition and replacement of the UK’s non-domiciled tax regime. Having carefully considered the content of the Finance Bill 2024-25, STEP’s representations have emphasised the importance of clear guidelines to… Read More STEP representations to HMRC on non-dom changes
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