HMRC has updated the list of jurisdictions whose tax residents Financial Institutions must report on by 31 May 2018 under the Common Reporting Standard. The change removes Antigua and Barbuda, Brunei Darussalam, Grenada, Macao (China), Trinidad and Tobago and Vanuatu from the list for reporting to HMRC in May 2018, which means that reports sent by […]

The European Commission has approved under EU State aid rules the prolongation of the UK Enterprise Management Initiative scheme, which reduces the taxation of employee share options for small and medium sized enterprises (SMEs). Under the scheme, employees of SMEs benefit from reductions from income tax and/or national insurance contributions, when exercising their share options. […]

The General Data Protection Regulation ((EU) 2016/679)) known as “GDPR” is a response to the rapid technological changes since the Data Protection Directive (95/46/EC) was implemented into national law. It will bring about significant changes to the data protection framework in Europe. The GDPR is a regulation designed to harmonise data protection law across the […]

The British Overseas Territories (BOTs) will be required by the UK government to introduce publicly accessible registers of people with significant control over companies based in those territories.   The new measure will be introduced by way of an amendment to the UK's Sanctions and Anti-Money Laundering.   The Sanctions and Anti-Money Laundering Bill amendment […]

On 07 February 2013, the Ministry of Finance issued Letter No. 03-08-13 clarifying whether a limited liability partnership (LLP) incorporated under the UK legislation may be considered a person for the purposes of the Russia - United Kingdom Income Tax Treaty (1994) (the Treaty). According to article 1 of the Treaty, persons who are residents […]