Andrew Barber, Partner, outlines the recent Financial Conduct Authority (FCA) policy statement PS17/6, explaining that it is part of an ongoing process to provide guidelines as to the PRIIPs Regulation, with more clarification expected from the courts, the European Supervisory Authorities (ESAs), or the European Commission in the coming months.
In (1) Kings Court Trust Limited (2) Lois Joanne Talbot (3) Angela Jane Pilling (Executors of the late Eric Anthony Pilling) v Lancashire Cleaning Services Limited , the High Court held that where a company had no acting officers and delay in appointing any officers may lead to the failure of the company, the court can exercise its discretion to order rectification of the Company's register of members under s.125 Companies Act 2006 in favour of executors, notwithstanding the absence of a grant of probate of the deceased's will.
On 16 June 2017 our Newcastle office hosted a round table meeting of political and business leaders to discuss the practical implications of the report 'The Free Ports Opportunity: how Brexit could boost trade, manufacturing and the North'.
A free port or free zone (FTZ) would be an area inside the UK geographically, but legally outside of the UK customs territory. Goods can be imported, manufactured or re-exported inside the FTZ without incurring domestic customs duties or taxes. These are only paid (often at reduced rates) on goods entering the domestic economy. As well as benefits to customs taxes and duties, FTZs often also support economic activity through financial incentives like Research and Development (R&D) tax credits, regulatory flexibility, and tax reductions.
Whether you operate as a sole trader, in partnership or through a limited company, how capital assets are deployed can have major implications for inheritance tax (IHT).
Here we look at a few of the issues relevant to farming partnerships. Please note that there are issues other than IHT to be taken into account, such as capital gains tax, stamp duty land tax and non-tax considerations. These are beyond the scope of this article.