- Managers of Wealth - Legal - Wealth, private banking and asset management news and opinion

EU ESG – more problems for the nuclear and gas CDA

Two European Parliament committees have objected to the Commission’s proposals to include nuclear and gas activities within the EU’s sustainability taxonomy.

The UK’s transfer of assets abroad tax regime

Any UK-resident taxpayer considering an offshore structure should consider the regime from the outset.

Court of Appeal: transfer of assets abroad tax rules should be ‘kept in reserve’

Appeals against the statutory appeals and the judicial review were all heard together by the Court of Appeal.

New York sales tax case regarding art leasing

An Administrative Law Judge initially rejected the petitioner’s claim for a sales tax refund

Why HMRC measures to suspend R&D cash payments and manage error and fraud matter to claimants

After the economic shock of the pandemic, and going into what increasingly threatens to be a recession, cash funding for R&D is vital.

Unpacking Pillar Two: EU implementation

Without the discipline of a directive, the Commission fears that the scale, detail, and technicalities of the Pillar Two rules could fragment the EU internal market, creating mismatches and distorting fair competition.

Review of UK capital allowances regime should be used to stimulate investment

A policy paper inviting views on how the government should reform the capital allowances regime was published last week.

Legal certainty prevails even if position of the Tax Authorities was contra legem

The Court ruled for the first time that taxpayers may rely on a position taken by the Tax Authorities

The Italian VAT regime on the Leasing and Chartering of Pleasure Vessels

The new amendments have been acted to address objections from the European Commission

Cleary Gottlieb Adds Two San Francisco Bay Area Partners

Tax Partner Maureen Linch and IP Partner Marcela Robledo Expand Corporate Capabilities

UK venture capital market review should look to simplify tax rules

Given that the Treasury inquiry seeks evidence on options for change, it is hoped that the inquiry provides an opportunity for the industry to raise some of the challenges associated with the complexity of the tax rules.

Holiday homes and Inheritance Tax planning

Many clients think only in terms of inheritance tax, but income tax, capital gains tax and stamp duty land tax also need to be considered.

HMRC provides scope to settle remuneration trust tax liabilities

HMRC has set out guidance to help users of remuneration trusts determine what tax they owe.

Irish funds may have to revisit taxonomy disclosures over updated guidance from ESAs

“As the initial taxonomy regulation disclosures were being prepared, the ESAs suggested that they favoured a 0% taxonomy-alignment disclosure,”

Landmark CJEU ruling in VAT matters

Subsidiary rendering services to its parent is no fixed establishment of the latter

Jersey to introduce taxation for enveloped property transactions

Late payments incur a surcharge of 10%.

Ratification of Protocol to double tax treaty between Poland and the Netherlands has been completed

The Protocol will become effective after both countries exchange notes confirming the ratification of the Protocol, which is very likely to occur in the nearest future.

An overview of tax considerations for non-UK residents purchasing UK residential property

The purchase, ownership and sale of UK residential property by non-UK residents can result in complex UK tax considerations, which we explore in this article

New guidance on UK uncertain tax treatment published ahead of law change

The guidance also confirms that an uncertain tax treatment is unlikely to have any consequences on senior accounting officer (SAO) certification

10 measures to expose sanctioned Russian oligarchs’ hidden assets

The Tax Justice Network has in response published a briefing detailing 10 transparency measures that the task forces can take to cut through financial secrecy