Malcolm Hurlston: Changing times for EBTs

Times have moved on for employee benefit trusts (see How to use offshore employee benefit trusts, November 2013).

Last month, the UK signed inter-governmental agreements with Jersey and Guernsey, and prime minister David Cameron confirmed a new ‘British Isles’ approach, as advocated by the Employee Share Ownership (ESOP) Centre.

This follows the careful work by the Channel Islands and HM Revenue and Customs to prevent the misuse of trusts as disguised remuneration.

Jersey and Guernsey are now internationally recognised as the leading centres of trust expertise. That is why many UK and multinational companies use them.

The concerns in the article lie in the past. 

Malcolm Hurlston is chairman of the ESOP Centre