Accountants experience a purple patch
STAFF at Alex Picot Trust raised money for the Jersey Epilepsy Association on Thursday by taking part in Purple Day.
They wore purple and sent all emails in purple text, making a donation to do so.
They were prompted to take part because some members of staff have family and friends with epilepsy and also the firm’s corporate colour is purple.
‘We feel it is a much misunderstood disorder and hopefully Purple Day will raise general awareness of it,’ said staff member Kathy Lee.
‘The money we raise will go to the Jersey Epilepsy Association which offers advice and reassurance for those with epilepsy in their lives.’
Top student excels in Jersey Energy career
THE student who achieved the highest ever grades at Highlands College for an HNC in building studies four years ago has now been awarded an MSc with distinction in building services engineering from London’s South Bank University.
Stuart Gray (34) is a member of the small highly skilled team that makes up Jersey Energy, Jersey Electricity’s independent environmental building services design and energy consultancy. He has been studying for this degree for three years while continuing his full-time employment in the Island.
Mr Gray, who was educated at De La Salle College and Highlands, joined the company in 2009 and has worked on many complex projects, including the States’ energy-from-waste plant, the award-winning Durrell Wildlife Conservation Trust visitor centre, JT’s data centre and the 66 Esplanade office development.
His outstanding achievements have been recognised twice by the Jersey Construction Council, which honoured him for Outstanding Achievement in Construction Studies in 2012 and, later that same year, presented him with the Ogier-sponsored Industry Achiever Award.
Mr Gray said: ‘It has been quite a commitment studying at this level while also working full-time, but it wouldn’t have been possible without the backing of Jersey Electricity. I also thank my colleagues on the Jersey Energy team and my wife, Michelle, for all their support.
‘I hope this is seen as a reflection of the excellent training opportunities available in the Island and highlights the local skills available to the industry and the States among teams such as Jersey Energy.’
Shaun Bisson, Jersey Energy’s managing consultant, said: ‘This achievement is a further demonstration of Stuart’s dedication to his studying and his desire to develop his skills to a higher level.
‘The qualification gives him more knowledge and experience in our industry and will enable him to undertake more detailed and complex projects within the business.
‘He is to be congratulated and should be proud of attaining such an excellent result.’
Russia tax moves could benefit Jersey trust firms
SIGNIFICANT changes to Russia’s tax code could lead to an increased use of corporate and trust entities based in the Channel Islands in the structuring of Russian corporate and private wealth arrangements.
The changes, dubbed the ‘deoffshorisation law’, are intended to tax profits made by controlled foreign companies and other non-Russian structures in a similar manner to that seen in many countries around the world.
In addition, the new rules, which came into effect on 1 January, require the disclosure of beneficial ownership interests in non-Russian structures and provide a framework under which a foreign structure might itself become tax-resident in Russia.
Collas Crill Group partner Nicholas Davies said: ‘What these new controlled foreign company rules mean is that undistributed profits made by a foreign company, trust or other structure which is controlled by a Russian tax resident will be liable to profit tax in Russia, and in certain circumstances the entities themselves may be deemed Russian tax resident.
‘We believe that this will see an increased use of structures such as cell companies, foundations and trusts for Russian tax planning, and jurisdictions like Guernsey and Jersey, which have a reputation for the quality and flexibility of such products and the in-island services that accompany them, will ultimately benefit.’
Mr Davies said: ‘Russia and the wider CIS region continue to be a significant source of business for those involved in the structuring of offshore corporate, finance and private wealth arrangements in the Channel Islands, but it’s important that they understand the implications of these tax code changes, as well as the effect of sanctions and the current economic and geo-political environment that Russia finds itself in,’ he said.
Collas Crill has organised a seminar to look at these issues in more detail as part of its spring seminar series. ‘It will be an opportunity to hear from speakers from the legal, tax and accounting worlds on the new controlled foreign company and tax residency rules introduced by Russia, and their potential impact on the use of Channel Islands structures by Russian tax residents,’ said Mr Davies.
‘We will consider the effect of sanctions and the political and economic backdrop more generally, and discuss some of the opportunities and challenges in doing business in Russia and the CIS in the current climate.’
He will be joined on the panel by chartered accountant and UK licensed insolvency practitioner Alan Roberts whose experience includes protected cell windings-up, contentious insolvency issues, complex asset recovery, forensic accounting investigations and multi-jurisdictional insolvency litigation cases, and Neil Hoolahan, whose expertise is in international tax compliance and advice for collective investment vehicles, trusts and offshore companies.
The event will be held at the Pomme d’Or Hotel on Wednesday 15 April.ormation is available from events@collascrill.com
New man on board at ALX
WORKPLACE skills training provider ALX Training has appointed e-learning expert, consultant and entrepreneur Marco Faccini to its board as a non-executive director.
Alex Morel, managing director of ALX Training, said: ‘As a world leader in the field of learning and development, Marco brings a wealth of experience and knowledge to ALX.
‘We are proud that he has chosen to use his time to help develop ALX and make learning even more effective for the thousands of Channel Island students we teach every year.’
Mr Faccini is an experienced learning professional who started out as an e-learning pi neer in 2001 with Creative Learning Media, which went on to become MindLeaders before being purchased by Skillsoft in 2012.
After Skillsoft’s purchase, he formed Performance Learning Group, an employee-ownership professional learning services company that helps employers and suppliers to deliver business performance on their learning and development strategies.
It is this wider understanding of the learning and development profession and its interface with
technology that he hopes will be of benefit to ALX.
‘ALX Training has great family-based values which has seen year-on-year growth since its inception five years ago,’ Mr Faccini said. ‘As the founder, Alex wants to push the company on to the next level, broadening its service offering and reach while maintaining the core values of the business.
My previous experience of helping companies grow from start-up, combined with my sales, marketing and learning technologies background, will help broaden the horizons and experience of the existing board while also facilitating the cross-fertilisation of ideas, particularly in terms of business strategy and planning.’
As well as his work with ALX and Performance Learning Group, Mr Faccini is a producer at Learning Now TV and Fellow of the Learning Performance Institute.
