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Trustee beneficial ownership reporting obligations: technical guidance issued

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Trustees of most UK and foreign trusts which are liable to pay UK Income Tax (IT), Capital Gains Tax (CGT) or Inheritance Tax (IHT), among others, in any given UK tax year, must now report beneficial ownership details to HMRC in relation to that tax year.  This is part of the UK’s response to the […]


Cinema Holiday Pay

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The question of how to calculate holiday pay has been perplexing employers and their legal advisers since 2014, when a case brought by a British Gas worker upset the status quo. The worker in question, Mr Lock, received results-based commission in addition to his basic salary. However, when he was on holiday, Mr Lock was […]


Blockchain, cryptocurrencies and ICOs

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Against the backdrop of soaring, if volatile, prices for Bitcoin and other cryptocurrencies and a rapidly changing global regulatory landscape, the adoption of blockchain technology and its use in raising significant funds for start-up ventures is accelerating. Fladgate is committed to a leading position in this exciting sector and is already advising technology entrepreneurs on […]


New immigration rules will force UK banks to search bank accounts for illegal migrants

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Since the introduction of the Immigration Act 2014, banks and building societies have been prohibited from opening current accounts for individuals who are in the UK illegally. The Immigration Act 2016 goes one step further, with the introduction of multiple measures to prevent illegal migrants from continuing to operate existing current accounts. The Act gives […]


UK tax legislation update: taxation of non-doms

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Over the past couple of years, the Government has placed non-doms on notice of its intention to change the way in which they and their offshore trusts are taxed for UK tax purposes.  Now finally all previously trailed provisions have been reintroduced into draft legislation, so here is a brief reminder of the main provisions […]


Bankers should not become immigration officers

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Laws designed to prevent illegal migration could harm people legitimately working in the UK, argues Sarah Gogan Theresa May’s aim of creating in Britain “a really hostile environment for illegal migration” is embodied in two pieces of legislation, both of which could have damaging consequences for many individuals and create a wider risk of discrimination […]


The New Telecommunications Code: are you equipped?

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After a long wait, the new Electronic Communications Code is due to come into force at the end of this year or early 2018. The new Code is a complete replacement of the existing Telecoms Code, introducing new procedures and timescales. Thekla Fellas gives an overview of the main changes to the Code and how […]


Adjudication proceedings: Ignore at your peril

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A recent TCC case has highlighted the pitfalls associated with trying to ignore adjudication proceedings A recent Technology and Construction Court case illustrates the risks to a responding party of not participating in adjudication proceedings. The facts of Lobo v Corich & Anor [2017] EWHC 1438 (TCC) were straightforward, if a little unusual. Facts of […]


Tax and the gig economy

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The ‘gig economy’ has been very much in the news in recent months. While much of the political attention has been focused on the employment effects of this phenomenon, the implications for UK tax are wide-ranging and hugely significant. What is the gig economy? The name refers to the general trend of workers using an […]


Can you disinherit your children if you want to?

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You may recall that, a couple of years ago, the English press was full of reports of the Will case of Ilott v Mitson.  (For some background on the case, see my 2015 and 2017 posts about it.) The case was of interest to any testator who is considering cutting out children from their Will.  However […]


Internal investigations and the limits of privilege

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Summary The High Court recently ruled, in a landmark case brought by the Serious Fraud Office (SFO), that the Eurasian Natural Resources Corporation (ENRC) must hand over documents generated by an internal investigation by the company, including notes taken by lawyers of interviews with ENRC’s employees. The SFO’s application was made in the course of […]


Motivating and rewarding key employees through share-based incentives

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There are various ways to motivate and reward key employees through share-based incentives. The optimum structure for any given company will depend on its specific circumstances and commercial objectives. Enterprise Management Incentive (EMI) option plans are widely recognised as an attractive and very tax efficient structure and are therefore the first port of call for […]