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

15% Global Minimum Tax Rate: Draft Legislation lodged in Jersey

The draft legislation is expected to be debated in early October, with a view to the new rules coming into effect on 1 January 2025.

An introduction to tax for UK companies

A UK company will be subject to UK corporation tax on its income profits and capital profits.

UK plastic packaging tax data shows environmental and economic impact

The tax is calculated on a fixed amount per tonne.

Upcoming Deadline to Dispute California Property Tax Valuation

Property owners who believe that their property is currently assessed at higher than fair market value may significantly benefit from a decline-in-value assessment appeal.

Corporate criminal offences of failure to prevent the facilitation of tax evasion

All businesses should have introduced measures to ensure that they are aware of and have control over how their employees, agents and service providers are operating to reduce their risk of exposure to the CCOs.

Maintaining non-UK tax residence

Non-UK companies sometimes want to maintain their non-UK tax residence status for tax purposes and, therefore, will need to follow the UK's tax rules on corporate residence.

Stamp duty implications for corporate transactions

Stamp duty applies to transfer documents transferring stock or marketable securities.

Bermuda Corporate Income Tax and the Shipping Income Exclusion

These groups are defined as those operating in multiple jurisdictions with consolidated revenues of at least €750 million in two out of the previous four fiscal years.

UK government calls for evidence on carried interest tax ‘loophole’

The government notes that there are a range of circumstances in which carried interest is received, and that the characteristics of the reward will not be the same in all cases.

Shipping and Bermuda’s Corporate Income Tax Act

The clue is in the name but take note of the international nature of the definition.

Managing HMRC IR35 enquiries: tips for UK businesses

There is no uniform approach to how enquiries commence

UK private equity industry faces uncertainty over taxation of carried interest

Carried interest payments are due when a fund reaches a certain level of profitability and an agreed-upon amount of profit has been distributed to investors.

Contractual terms will be crucial to claiming UK tax relief on contracted-out R&D

The terms of the contract in which the R&D is contracted out by a business and undertaken by another party will be important to that business claiming tax relief for the costs of the contracted out R&D.

VAT policy to spur UK private schools M&A deal activity

A new tax risk has also come into focus.

Keir Starmer victory – How will UK taxation change under the new Labour Government?

A final target of Labour's tax plans are private equity managers who receive carried interest.

What the ‘FASTER’ tax reforms could mean for EU investors

Not all member states will be required to implement this measure.

‘Fixed establishment’ concept clarified in EU VAT ruling

It is for the Romanian regional court to apply the CJEU’s case law to the circumstances in the Adient case to determine the outcome of that dispute.

When the tax tribunal can intervene to fix your mistakes

Rectification is usually pursued through an application to the High Court

UK General Election: Voting in UK elections as a non-UK tax resident

To vote in a General Election while resident outside the UK, an individual must be aged 18

The Labour manifesto – key tax policies explained

The manifesto is silent in relation to capital gains tax and we consider that there is scope for the rate of capital gains tax to be increased, but this not mentioned in the manifesto.