STEP, alongside ICAEW and the Law Society, has recently published a guide to help trustees determine the status of UK trusts under the UK/US Foreign Account Tax Compliance Act (FATCA) intergovernmental agreement. 

In his latest blog post George Hodgson, Deputy Chief Executive of STEP,  tells us why practitioners need to consider urgently the status of all UK trusts for which they are responsible under the FATCA regulations.