The Association of Corporate Service Providers has arranged a seminar on Tuesday June 30th with Forsters LLP partner Patrick Harney who will speak on ‘Opportunities for Isle of Man trust business in the US and UK marketplaces.’
In his presentation Mr Harney, who is an international private client lawyer and leading expert in US-UK and UK-Irish tax planning, will ‘demystify the world of US-related trusts’, outlining the fundamentals of US taxation affecting trusts and individuals; the differences between US and UK trusts and their taxation; and how to retain trust business in the Isle of Man after the death of the settlor of a foreign grantor trust through a PTC (private trust company) arrangement with a US corporate service provider. He will also explain the ‘throwback rules’ and why foreign trusts are bad from a US perspective and answer the question: ‘What is a foreign grantor trust?’, explaining why the latter can be a growth area for Isle of Man trust business.
Sponsored by DQ Advocates the seminar will be at the Upper Hall, Loch Promenade Church, Douglas with registration at 12noon for a prompt 12.30pm start. Subject to the number of questions and contributions from the audience it is anticipated the event will finish around 1.30pm.
For bookings contact Antonia King, aking@acsp.co.im
