News

Register of overseas entities and their beneficial owners

May 11, 2022
Register of overseas entities and their beneficial owners

Recently, the Economic Crime (Transparency and Enforcement) Act 2022(ECA 2022) received Royal Assent.  It covers three separate areas. It establishes a register of overseas entities and their beneficial owners and require overseas entities who own or wish to acquire land to register in certain circumstances; It makes additional provisions about UWOs; It makes additional provisions […]

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Central African Republic adopts Bitcoin as legal tender

The Central African Republic has become the second country in the world to adopt Bitcoin as official currency, after El Salvador. Lawmakers in the parliament voted unanimously to pass a bill legalizing bitcoin and other cryptocurrencies.

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UAE introduces a 9% levy on corporate profits

Following the innumerable requests from large economies seeking to close tax avoidance loopholes, the UAE’s have introduced a 9% levy on corporate profits in an attempt to modernise its economy and adapt to international standards. The UAE was one of 136 nations that agreed to try to ensure that large companies undertake to pay at […]

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Your overseas assets, income or gains HMRC letter

Many UK taxpayers in the last few months have surprisingly found in their mailbox a letter from HMRC about “Your Overseas Assets, Income or Gains” in which they were informed that HMRC has obtained information from overseas tax authorities about assets held by them in foreign jurisdictions on which they may have a UK tax […]

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2021 BUDGET

Yesterday, 3 March 2021 the Chancellor, Rishi Sunak, delivered his second Budget. Given the dire straits of the country's finances due to the effects of the fight against Covid-19 many were expecting tough measures. Therefore, the Chancellor realized that what the country needs at the moment is a boost to the economy rather than fiscal […]

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