The new regime regarding non-UK trusts is to be introduced with effect from 6 April this year. The proposed expansion of the disclosure rules for non-UK trusts has been dropped in the recent 2008 budget though the £30,000 annual flat charge remains. Under the new tax regime non-domiciles who have been resident in the UK for seven out of ten years will have to pay a £30,000 charge in addition to tax on UK income. However, non-doms will not be required to make any additional disclosures about their income and gains arising abroad as long as they declare their remittances to the UK and pay UK tax on them. Money brought into the UK to pay the £30,000 charge will not itself be taxable. Particular concessions have also been made in relation to art and it is still possible to bring art works into the UK for public display without incurring a charge to tax. The clarification came in a letter sent by Dave Hartnett, the acting head of HM Revenue and Customs. It also said that "there will be no retrospection in the treatment of trusts and the tax changes will not apply to gains accrued or realised prior to the changes coming into effect". The government will also continue to hold discussions with the US tax authorities on how Americans in the UK can make the £30,000 charge creditable against US tax. However the concern remains that the levy will deter non-doms from coming to the UK. For more details on alternative tax haven click here.

Jersey has been recommended as one of the top three global financial centres by leading advisers and wealth managers in a research conducted by Citywealth. In Citywealth's annual Leaders List 2008 which is a guide to key advisers and wealth managers of ultra high net worth clients, Jersey has been identified as one of the top echelon. The research involves extensive interviews with leading professionals involved in advising some of the world's wealthiest clients. Jersey's success will be recognised at CityWealth's flagship annual 'Magic Circle Awards' which will take place in London on 8 May 2008. For more information on Jersey click here.

The Association of Corporate Travel Executives (ACTE) says that laptops and electronic devices such as Blackberries, iPhones and others can be seized and the information downloaded without explanation, provocation, and/or even likely cause at the US border. Personal photographs, personal banking, business documents and unopened as well as stored e-mails can also be seized. This affects non-US citizens as well as US citizens. Although incidences of such confiscation remain relatively small compared to the number of business travellers, it has a rather significant implication. ACTE has issued guidelines to business travellers and recommends that travellers carry the barest minimum of data on a laptop they can afford to lose. Meanwhile Transportation Security Administration (TSA) says it does not and will not confiscate laptops or other electronic devices at checkpoints as this is a customs issue. The seizures have also prompted protest from travellers who fear risk of travel with sensitive information. To read the press release from ACTE click here.