General Licence – Publication Notice

General Licence – Publication Notice

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…

annexation of Ukrainian

Sanctions in response to Putin’s illegal annexation of Ukrainian regions

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…

New UK Land Rules

New UK Land Rules

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?  …

G20 ministers endorse ‘historic’ global deal to tax multinationals

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 importance of Corporate Economic Substance

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…