Research and Development (R&D) in the UK The UK is home to world-class research and development (R&D) facilities and institutions that are engaged in cutting-edge research in a range of fields, from technology and science to engineering and medicine. The government invests heavily in R&D every year, with a particular focus on innovation and the…
General licence – INT/2022/2252300 OFSI has the power to issue General Licences for country sanctions regimes under regulations made under the Sanctions and Anti-Money Laundering Act 2018 (“the Sanctions Act”). On [28] October 2022, OFSI issued General Licence INT/2022/2252300 under Regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019 (“the Russia Regulations”) and Regulation…
UK to implement services sanctions and export ban that target Russian economic vulnerabilities in response to Putin’s illegal annexation of Ukrainian regions New services and goods export bans, targeted at vulnerable sectors of the Russian economy, have been announced by the Foreign Secretary today (30 September) in response to Russia declaring the illegal annexation…
DO YOU OWN LAND OR BUILDINGS IN THE UK? Are you likely to want to be able to sell or lease it? Is the ultimate beneficial owner (UBO) identifiable to the public either through the public land registers in the UK or as a person of significant control at Companies Houses in the UK? …
UK trust for non-UK high net worth’s with non-UK assets We live in very uncertain times with once thought reputable governments seizing the bank accounts of ordinary individuals, whether that be in Canada or Australia and because of COVID and you are at the brink of military action. One place has always been safe…
Budget 27 October 2021 Some things you might have missed With immediate effect Both UK residents and non-UK residents will have 60 days in which to file a CGT return on the disposal of residential property, rather than the previous 30 days. With effect from 1st April 2022 A new levy (another word for tax…
G20 finance ministers on Saturday gave their backing to a “historic” global deal to tax multinational companies more fairly and urged hold-out countries to sign up. A framework for international tax reform, including a minimum corporate rate of 15%, was agreed this month by 131 countries. But the endorsement by the 19 biggest economies plus the European Union will help ensure it becomes a reality following years…
The issue of corporate economic substance is high on the agenda of tax authorities globally, following recent developments to improve fairness and cooperation in international tax. Following requests from the EU’s Code of Conduct Group (Business Taxation), the ‘Crown dependencies’ have agreed to introduce legislation that will require resident companies carrying on certain specified activities…
UK and Cyprus have a very strong relationship that is getting deeper and wider. British High Commissioner to Cyprus, Stephen Lillie said on Thursday that the UK and Cyprus have a very strong relationship that is getting deeper and wider, noting that defence engagement was an important part of this growing relationship. Lillie on Thursday…
Significant and wide-ranging changes are being introduced in relation to the taxation of UK property, some of which already apply for transactions taking place from 6 April 2019, others taking effect from 6 April 2020. Real estate held by non-UK residents From 6 April 2019, disposals of UK commercial property by non-residents have been brought…
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