The Economic Crime (Transparency and Enforcement) Act 2022 (the Act), enacted in March 2022, introduced a Register of Overseas Entities. Under this legislation, overseas entities which own certain interests in United Kingdom...more
The Fourth Money Laundering Directive ((EU) 2015/849) (MLD4) was implemented in the United Kingdom as a result of The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulation 2017 (SI...more
4/1/2021
/ Beneficiaries ,
Benefit Plan Sponsors ,
Compliance ,
EU ,
HMRC ,
Money Laundering ,
Personal Information ,
Privacy Laws ,
Registration Requirement ,
Trusts ,
UK
The COVID-19 pandemic has highlighted the benefits of post-death planning, whilst also giving individuals the much-needed down-time to reflect on their wishes. This has brought about a flurry of requests for new wills to be...more
2/10/2021
/ Amended Legislation ,
Coronavirus/COVID-19 ,
E-Signatures ,
Electronic Filing ,
Estate Planning ,
UK ,
Uniform Electronic Wills Act ,
Videoconference ,
Virtual Meetings ,
Virtual Witnessing ,
Wills
Despite much anticipation to the contrary, the UK Government decided to repeal all but one of the reporting triggers under the UK regulations implementing EU Council Directive 2018/822 on the reporting of cross-border tax...more
In March, we wrote about the challenges self-isolation and social-distancing presented to the legalities of signing a will, in particular the requirement that a will is signed in the presence of at least two witnesses. We...more
It is no secret that the Coronavirus (COVID-19) pandemic is having a significant impact on the economy. Chancellor Rishi Sunak recently stated that “it is now very likely that the UK is facing a significant recession at the...more
5/31/2020
/ Capital Gains Tax ,
Coronavirus/COVID-19 ,
Debt Restructuring ,
Income Taxes ,
Inheritance Tax ,
Insolvency ,
National Insurance Contributions ,
Pensions ,
Relief Measures ,
UK ,
Value-Added Tax (VAT)
In these uncertain times, many clients are considering putting their affairs in order—just in case the worst should happen. This is an entirely natural reaction to the advancing Coronavirus (COVID-19) epidemic. But where a...more
Corporate criminal offences (CCOs) under Part 3 Criminal Finances Act 2017 (CFA) are increasingly coming under the spotlight of the UK tax authorities. In a 10 February 2020 press release published in response to a Freedom of...more
2/25/2020
/ Compliance ,
Corporate Crimes ,
Criminal Penalties ,
Criminal Prosecution ,
Cross-Border Transactions ,
EU ,
Government Investigations ,
HMRC ,
Information Reports ,
International Tax Issues ,
Popular ,
Risk Management ,
Tax Avoidance ,
Tax Evasion ,
UK ,
UK Criminal Finances Act 2017
The Office of Tax Simplification (OTS) recently released a report on simplifying the design of UK inheritance tax (IHT). This article highlights areas where taxpayers might take advantage of existing opportunities to make...more
In order to address concerns raised by the EU Code of Conduct Group, a number of jurisdictions have recently taken steps to meet the European Union’s tax good governance principles by introducing “substance” rules for...more
The process of resealing a grant of probate or letters of administration in the English courts is often required where a deceased individual held assets in England or Wales but was living in a different country.
This...more
On 26 June 2017, the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (the Regulations) came into force, introducing new requirements for trustees. The Regulations...more
The UK Government has published a consultation document and draft legislation relating to the reforms of UK residential property taxation that are due to take effect from 6 April 2017. The new rules mean that most UK...more
Summary -
Following the United Kingdom’s vote to leave the European Union on 23 June, and the change of Prime Minister and to the UK Government, there was significant uncertainty regarding what would happen to the...more