STEP

In our STEP Updates column from the latest issue of the STEP Journal, we cover recent STEP news including: ☑️STEP's annual membership renewals ☑️The STEP Barometer report ☑️New essay route topics for 2026 📢Learn about updates from across STEP: tinyurl.com/5n6htuxn #STEPCPD #STEPBarometer

The Isle of Man's financial regulator has begun an initial consultation on a 'legitimate interest' route for public access to company beneficial ownership information. All three Crown Dependencies have already committed to providing a legitimate interest mechanism, as have some of the British Overseas Territories. 👉Read more: bit.ly/4th83Jz #STEPCPD #BeneficialOwnership

In the UK, the Crime and Policing Act 2026 has received royal assent, expanding the scope of corporate criminal liability to all crimes where a senior manager commits an offence while acting in their actual or apparent authority. This is the second expansion of corporate criminal liability law which, until December 2023, could only hold a company criminally liable for the actions of individuals representing its 'directing mind and will', the identification principle. 📖Read more: bit.ly/4npjrSb #STEPCPD #CriminalLiability

Nominations are open for STEP’s prestigious Honorary and Judicial membership awards. These awards recognise individuals who have made exceptional contributions to the profession and the wider STEP community. Both categories are open to both STEP Members and non-Members. Only Regional, Branch and Chapter Committee Chairs can submit a nomination for these categories. Committee members can also submit a nomination with the support of their Chair. If you would like to nominate someone for one of these awards but are not a member of a committee, you can contact your local Branch or Chapter with a suggestion by using the branch directory: step.org/directory/bran… Remember that the deadline for nominations is Friday 29 May 2026. 👉Find out more about nominations: bit.ly/4sSuQeV #STEPGovernance #STEPCommunity

Charitable intent is increasingly integrated into estate and corporate planning, yet life insurance remains underutilised or misunderstood as a funding mechanism, particularly in the cross-border Canada–US context. In this STEP Journal article Harj Takhar TEP compares how life insurance can be integrated into philanthropic strategies as part of broader wealth and succession planning in Canada and the US. 📖Read the article: tinyurl.com/363vcd6y #STEPCPD #Philanthropy Did you find this article helpful? Share it with your network! @NextGenOfWealth

Do you have questions about studying a STEP qualification? ✍️ We have two upcoming briefing sessions focusing on: ☑️The STEP Advanced Certificate in UK Tax for International Clients in May ☑️The STEP Advanced Certificate in Will Preparation (England and Wales) in June You can attend for free to find out more about the courses and the benefits for your career and professional practice. 👉Find out more about the briefing sessions: bit.ly/48LEtUR 📖Study with STEP: bit.ly/3HKKdUt #STEPEducation #ContinuousLearning

Welcome to STEP's Trusts Information Centre, a one-stop shop for everything you might want to know about trusts. For example, we have a trusts FAQ section which answers questions including: 👉What is a trust? A trust is the formal transfer of assets, such as property, shares or cash, to a small group of people (usually two or three) or to a trust company with instructions that they hold the assets for the benefit of certain persons or purposes. 📖Learn more about trusts: bit.ly/4cY1Eww #STEPCPD #Trusts

The US Internal Revenue Service, supported by US courts, is increasingly denying charitable income tax deductions. Despite donations clearly occurring, when statutory and regulatory substantiation requirements are not met, documentation failures are treated as fatal rather than technical defects. In this STEP Journal article Joan K Crain TEP uses recent cases to examines how vital timely and accurate documentation has become for charitable planning and income tax deductions in the US. 📖Learn more in the article: tinyurl.com/y52xw6 #STEPCPD #Tax

In Heydary Green Professional Corporation v The King, [2026] TCC 69, the Tax Court of Canada recently issued a decision that clarifies goods and services tax, harmonized sales tax and the bad debt deduction rules pertaining to legal service providers. 📖Read more: bit.ly/3Pmw83x #STEPCPD #Tax

Do you want to play a key role in addressing technical and taxation issues related to trusts, wills and estates in the UK? Do not miss your chance to apply to join the STEP UK Technical Committee! The Committee engages regularly with HMRC, HM Treasury and other government bodies. It provides technical input, consultation responses and guidance on new legislation. We encourage members of STEP from all professional backgrounds to apply. The deadline for applications is Thursday 8 May 2026. If you have any questions, please contact STEP's Policy team by emailing policy@step.org. 👉Find out more about the role: bit.ly/STEP-Committee… #STEPProfile #Tax

What are the challenges of navigating US-based attorney–client privilege in trust and estate matters? In this STEP Journal article Eido M Walny TEP describes common situations that threaten attorney–client privilege and how practitioners in the US can safeguard this privilege to avoid its inadvertent waiver. 👉Learn more in the article: tinyurl.com/yc4ran76 #STEPCPD #Trusts @WalnyLegalGroup

How can you learn more about digital assets? 🤔 Our CPD Learning Course: Digital Assets will: ☑️Equip you with the practical tools and expert insight to meet growing client demand; ☑️Enable you to support families during incapacity or bereavement and ☑️Ensure digital assets are properly identified, valued, and transferred. 👉Study with STEP: bit.ly/49cZWr7 #STEPEducation #DigitalAssets

Are you a STEP member with questions about CPD? CPD is mandatory for all members currently working to maintain STEP membership and is referred to in STEP's Code of Professional Conduct. We have resources including: 💡CPD FAQs 💡How to record CPD 💡Resources for ethics-related CPD 👉Explore our CPD resources: step.org/members/cpd #CPD #ProfessionalDevelopment

In recent years, transparency has become an increasingly high priority for the public, especially in terms of holding those in power to account. This has been reflected in the trusts sphere: disclosure applications have become not only more common but also more wide-ranging in scope. In this Trust Quarterly Review article, Emma Holland TEP and Judith Swinhoe-Standen describe disclosure applications by both beneficiaries and trustees and how common-law courts balance transparency and privacy in their decision-making. 👉Learn more in the article: tinyurl.com/3zh28hue #STEPCPD #Trusts

Pre-action and non-party discovery is now permitted in the Cayman Islands, through the addition of Rule 7A to Order 24 of the Grand Court Rules, which came into force on 30 March 2026. A prospective plaintiff may now apply to the court for disclosure of documents from a prospective defendant before proceedings are commenced. Parties may also apply for disclosure from non-parties at an interlocutory stage once proceedings are under way. 📖Read more: bit.ly/4t79c6o #STEPCPD #CaymanIslands

Draft regulations laid before the UK parliament on 22 April 2026 would allow anyone to make an application for trust information on the register of overseas entities on the basis of the name of an overseas entity alone, without needing to name the relevant trust. 👉Read more: bit.ly/4tKv20H #STEPCPD #Trusts

In this STEP Journal article, Susan Manwaring TEP and Kaitlyn Nelson examine draft legislation proposing enhanced reporting requirements and greater transparency for non-profit organisations in Canada. 📖Read more in this STEP Journal article: tinyurl.com/3ysns5sv #STEPCPD #Transparency

📢STEP Industry News Update: Colombian court declares emergency tax decree unconstitutional On April 17 2026, the Colombian Constitutional Court issued Judgment No. C-079/2026, which declared the government's Decree No. 1474/2025 to be unconstitutional. The government had originally introduced Decree 1474 in December 2025, as a way of raising temporary taxes they said were needed to address a budgetary shortfall caused by the country's ongoing state of ‘economic emergency’. 👉Read more: bit.ly/3OMRsz4 #STEPCPD #Tax

Why can carried interest be a powerful tool in estate planning? For individuals involved in alternative investment funds (private equity and venture capital), carried interest can be a powerful tool in estate planning because of its high growth potential and favourable tax treatment when gifted. In this STEP Journal article, Ross Slutsky, Brent Berselli and Rolf Witt consider the role of carried interest in estate planning for US fund managers, focusing on valuation, structuring and compliance considerations. 👉Learn more in the article: tinyurl.com/4a6ah4x2 #STEPCPD #Tax Did you find this article helpful? Share it with your network!

What is the impact of unqualified advisors in estate planning? Click through these images to read some of the insights from our report ‘Wills and Trusts: Buyer Beware' and learn more about why qualified and specialist estate planning advice in the UK matters. Download the report: bit.ly/Wills-and-Trus… Have you come across these issues in your work? Share in the comments! #STEPProfile #Wills