The following Private Client practice note provides comprehensive and up to date legal information covering:
FORTHCOMING CHANGE: The fifth anti-money laundering directive (5MLD) was published in the EU Official Journal on 19 June 2018 and came into force on 9 July 2018. The directive introduces broader access to information on beneficial ownership of companies and trusts, and tighter controls on certain transactions. In particular, all express trusts (not just those with a UK tax liability in a particular tax year) need to be registered either with the Trusts Registration Service (TRS) or other registration services under the extended rules. The directive must be transposed into national laws by 10 January 2020. The government ran a consultation from 15 April to 10 June 2019, seeking views on the transposition of 5MLD into national law. The Money Laundering and Terrorist Financing (Amendment) Regulations 2019, SI 2019/1511 were laid before Parliament on 20 December 2019 and are in force from 10 January 2020. See Practice Note: Fifth Money Laundering Directive—what’s changed?, Fifth Money Laundering Directive published in EU Official Journal, LNB News 22/06/2018 41 and News Analysis: Transposition of Fifth Money Laundering Directive into UK law—the pensions impact.
FORTHCOMING CHANGE: As originally announced at Budget 2018, the government ran a consultation between 1 April and 1 June 2019 on proposals to curtail capital gains tax (CGT) principal private residence (PPR) lettings relief in order to better target the relief at owner occupiers and
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This Practice Note considers the law governing the procedural law of arbitration proceedings (the curial law or lex arbitri) and how it is determined under the law of England and Wales (England and English are used as convenient shorthand).The procedural law of the arbitral proceedingsThe procedural
Part 8 of the Corporation Tax Act 2009 (CTA 2009) is a specific corporation tax regime that applies exclusively to the gains and losses of intangible fixed assets. Note, however, that certain intangible fixed assets are excluded from the regime, see Practice Note: Excluded intangible fixed
The right to notice means a right for the employee to remain in employment for the period of notice, not simply to be paid for it. An employer will therefore often include in the contract an express right to make a payment in lieu of notice ('PILON') as an alternative to giving notice, to ensure
A limited company that proposes to issue redeemable shares must comply with the provisions of the Companies Act 2006 (CA 2006).Why do companies issue redeemable shares?A company may wish to issue redeemable shares so that it has an alternative way to return surplus capital to shareholders without
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