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Message from GAT Chairman:
Mark Pattimore

Thank you to all of those who attended the recent AGM.  For those who did not make it, please note that at the AGM Michael Betley stood down as Chairman and I was appointed as GAT Chairman for the next two years.  In addition, Paul Hodgson and Rhona Humphreys were appointed to the roles of Deputy Chair and Marie McNeela as Secretary. Jeff Wilkes-Green remains as Treasurer.

I would like to take this opportunity to encourage Members, to continue with their support of and positive engagement with GAT.  We welcome any offers of assistance to the Committee, especially of a technical nature, so please do contact us if you feel that you can contribute:
 May Bulletin 2015 

With a busy month ahead we bring to you an early Bulletin Newsletter opening with a message from the new GAT Chairman Mark Pattimore.

The Consultation on Beneficial Ownership has now been launched and was detailed in the April newsletter published last week. Here is the link to the paper which we strongly encourage you to participate and make your submission by 10 July 2015.

Industry events which that may be of interest: ICSA Annual dinner, May STEP Evening Lecture and GILA Evening Presentation by by Robert Pearce  on Pit v Holt which would be of interest to lawyers and trust practitioners alike. 

Finally, a word about filing your "NRCGT" Return with HMRC from one of our Sponsors KMPG. Please see below.
ICSA Bailiwick of Guernsey Branch would be delighted if you could join them for their Annual Dinner at the Duke of Richmond Hotel with guest speaker, Jo Salter – Britain's first female jet fighter pilot who flew the Tornado GR1. Jo was a combat ready pilot with 617 Squadron, the Dambusters, with experience of operational tours of duty including international NATO exercises around the world.  She worked in intelligence and also became a fast jet instructor.
Jo also had cross discipline experience in technical, professional, managerial and political situations.  Add 10 years of experience with e-commerce and management consultancy, gaining an MBA, not to mention her media experience on television, radio and the press she is a multi-talented achiever, as well as being a daughter, sister, parent friend and hands-on charity worker.

To attend this event, please download and complete the booking form.

There is a limit for corporate tables and individual seats so please book early to avoid disappointment.  Networking tables for individual and small number bookings will be organised. The menu choices can be found here.

Payment must be received by Wednesday 10th  June 2015.
Corporate table(s) at £500 per table of 10/ Individual ticket(s) at £55 per ticket. 
Please either pay by cheque or bank transfer
Make cheques payable to: "ICSA Guernsey Branch" or use the bank transfer details on the booking form

Return form to the email below or by post to:
ICSA Bailiwick of Guernsey Branch c/o Anne Le Cheminant
PO Box 357, Mill Court, La Charroterie,
St Peter Port, Guernsey, GY1 3XH
For those of you who would like to stay overnight the Duke of Richmond have a corporate room rate for the event and please contact direct.
Reminder - STEP Evening Lecture No 9

When:   21st May 2015
Where:  The Colbourne Room, OGH
Title:  Investment Views and Innovative Solutions to Common Problems
Guest Speakers: Federico Ceresole & Tristan Blood of Goldman Sachs
Summary: In the wake of today's UK Election result, Tristan and Frederico will be delivering a Global Investment Outlook and considering the implications for Investors, as well as suggesting solutions, in response to negative Interest Rates and near static Forex Rates.

Booking can be made here.
Guernsey International Legal Association presents Robert Pearce, University of Buckingham, Author of "the Law of Trusts & Equitable Obligations" re "Pitt v. Holt (againTrustees and their mistakes"

Robert Pearce will provide an address for approximately 45 minutes followed by a Q&A session. This talk is a must for lawyers, trust practitioners and trustees both professional and personal. Following the talk there is an (optional) dinner at Le Nautique Restaurant.

When and where:  The Darymple Room, OGH, 6 p.m. Thursday 28 May 2015.

Please find further details on this flyer.
Our Sponsors KPMG have written a note on "Are you a non-UK resident individual, trustee or director holding residential property in the UK?"

If so and if you sell that property after 5 April 2015, whether at a gain or a loss, then you must deliver a "Non-Resident Capital Gains Tax Return" to HMRC within 30 days of the conveyance, because the post 5 April 2015 capital gain may be subject to UK capital gains tax ("CGT"). Certain companies and funds may be exempt from the charge to tax but will still need to file a return to claim the exemption.

If you are not already in the UK's self-assessment, Annual Tax on Enveloped Dwellings ("ATED"), ATED CGT or corporation tax regimes, then you need to file a return, request a payment reference and pay the CGT all within 30 days of the conveyance, to avoid penalties and interest. 

If you are within any of those regimes, then you can use your existing tax reference number to file the return within 30 days of the conveyance. In this case, you have until 31 January after the end of the tax year to pay the tax. If you are only in the ATED regime you can elect into the normal self-assessment rules by notifying chargeability by 5 October after the end of the tax year, and paying the tax by 31 January. 

A link to HMRC's online NRCGT Return can be found here.


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