Concept has concluded its initial actions on the member of its pension trusts and the impacts created by the French Taxation of Offshore Trusts.
Where relevant, reporting has been provided to the French authorities but no levy has yet been paid.
No communication has yet been received by Concept from its attempts to correspond with the French Authorities.
Concept’s actions come as a result of receipt and consideration of legal and tax advice from leading Guernsey, UK and French advisers. The company is currently not making reports to the French authorities for contract based pension schemes it administrates for relevant members.