Potential new UK CGT rates – implications for private equity fund structures

The Office of Tax Simplification (the OTS) issued its Capital Gains Tax Review – first report Simplifying by Design in November 2020. The report includes a recommendation that capital gains tax (CGT) rates in the UK be more closely aligned with income tax rates.

Related briefings

Economic substance: clarification of COVID-19 concession in Jersey

Since the Taxation (Companies – Economic Substance) (Jersey) Law 2019 (the Law) came into force on 1 January 2019, Jersey tax resident companies carrying out certain ‘relevant activities’ have had to comply with the substance requirements set out within the Law.

Channel Islands funds quarterly update: Q4 2020

Contents: 1 Pan-Channel Island developments 1.1 Economic Substance updates: Self-Managed Funds and Fund Vehicles 1.2 Brexit: updated position following the UK leaving the EU 2 Jersey developments 2.1 Guidance on COVID-19 Economic substance concession 2.2 Financial Services (Disclosure and Provision of Information) (Jersey) Regulations 2020 2.3 Minor amendment to the JFSC’s Outsourcing Policy and Guidance […]

CSSF fast-track procedure for fund managers to comply with SFDR disclosure rules

The Commission de Surveillance du Secteur Financier (the CSSF), has issued a communication (the CSSF Communication) to inform investment fund managers (IFMs) of Luxembourg undertakings for collective investment in transferable securities (UCITS) and alternative investment funds (AIFs), particularly Luxembourg Part II undertakings for collective investment (Part II UCIs) and specialised investment funds (SIF), of a […]

Latest Briefings

EU Regulator Warning on Post-Brexit Financial Services EU Access Exemptions

The European Securities and Markets Association (“ESMA”) has published a statement on reverse solicitation of clients by third country firms following Brexit and the end of the UK transition period on 31 December 2020. It has identified what it calls “questionable practices” by firms in this regard, for example, using general clauses or online pop-up “I agree” […]

Dealing with Requests for Flexible Working under Jersey and Guernsey Law

There is no doubt that enforced working from home (‘WFH’) during the early stages of the pandemic has accelerated changes in the way we work. Partly motivated by the initial response to lockdown measures, partly by a need to accommodate individual circumstances, employers and employees have had to adapt to changes in where, how and […]

UK Government Announces Changes to DAC6 Post-Brexit – Impact For Ireland

EU DAC6 – Mandatory Disclosure of Reportable Cross-Border Arrangements Directive 2018/822 (DAC6) is an EU Directive requiring EU intermediaries or taxpayers to report information on certain cross-border arrangements to their local tax authorities.  Our previous client updates in relation to DAC6 can be found on our website here1 and here2. In an unexpected move on 31 December 2020, […]

Big Tech worldwide regulation: not if, but how

We appear to have reached a global consensus that it is no longer a question of if we should regulate Big Tech but how we regulate, with a flurry of legislative proposals in Europe and legal actions in the US jostling for attention in the final weeks of 2020.

Firms told to look out for domestic abuse signs

The pandemic is making employers and employees re-assess the value of the workplace. One factor, as Business Minister Paul Scully MP has pointed out, is rarely considered: are employees being subjected to domestic abuse?

Recommended

Former Cooley partner lands GC role

A Cooley partner has found a new in-house role at investment firm True Altitude, after leaving the London office of the US outfit in 2020. IP partner Charlie Winckworth left Cooley last July after one year. He had joined Cooley at the start of 2019 from Hogan Lovells. Winckworth is now set to become full-time […]

Five City lawyers make the grade in Hogan Lovells promotions

Hogan Lovells has unveiled its new partner class for 2021, with five lawyers in London attaining promotion. Of the five City members, Yasmin Waljee becomes Hogan Lovells’ first pro bono partner in Europe having been a longtime leader of the firm’s efforts outside the US. Other London lawyers reaching promotion are Francis Booth, Oliver Humphrey […]

Hausfeld hires Trowers disputes partner

Hausfeld is bolstering its London ranks with the hire of Ned Beale from Trowers & Hamlins, with the disputes partner joining alongside of counsel Olena Gulyanytska. After eight years at his former firm, during which he built up a varied caseload, Beale is now starting off the New Year by switching to the US-based boutique. […]

liverpool street london

Milbank secures first corporate lateral of 2021 from Kirkland

Milbank has ushered in the New Year by adding a new corporate partner in its London office from Kirkland & Ellis. Kirkland has witnessed yet another departure in the form of private equity partner Andrej Wolf, who is set to join Milbank after almost fourteen years at Kirkland. Wolf first joined the firm in 2007 […]

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