The Process Migration is the process which allows an overseas company to be registered as a Guernsey company in accordance with the provisions of The Companies (Guernsey) Law, 2008 (as amended) (the "Law") ...
Whether CMC of a Guernsey company is exercised in the UK is question of fact. This briefing summarises UK tax residence points arising out of UK tax case law, focussing in particular on the most recent case of Development Securities (No. 9) Ltd and other v HMRC2, and also provides some practical guidance on how Guernsey companies can minimise UK CMC risks when there is no intention to make the company UK tax resident ...
Early last month, all companies, charities and public sector departments with 250 or more employees were required to submit their gender pay gap reports for the financial year 2020/2021. So what did the reports show? Progress is slow The initial analysis by the BBC showed little change since the last financial year. Whilst there were more businesses reporting in time for the deadline, this hasn’t affected the overall gender pay gap of 10.4%, which remains as it had been ...
With the 5 October 2021 deadline for reporting 2020 gender pay gaps now passed, the impact which the pandemic has had on progress to reduce gender pay gaps can clearly be seen. The effect of furlough and childcare on women over the past 18 months coupled with the financial strain many organisations have been under has resulted in, at best, no change in gender pay gaps and, at worst, an increasing gap between the average pay of men and women ...
Our Shoospeak HR podcast welcomes special guests Peter Morris (Partner in the Shoosmiths' family team) and Mahdiya Malik (HR and CSR Manager at Vaultex). Shoosmiths colleague Andy Graham chats to special guests Peter Morris (Partner in the Shoosmiths family team) and Mahdiya Malik (HR and CSR Manager at Vaultex) about Vaultex's recent introduction of a domestic violence policy ...
The value-added services (VAS) subsector in Nigeria is projected to generate USD500 million by theend of 2021. The subsector, which is regulated by the Nigerian Communications Commission, requires licences and approval before any intending player can operate or participate thereof. In thisarticle, our Rapheal Irenenexamines the relevant regulations in Nigeria and considers the impact of VAS on the telecommunication sector ...
On November 12, 2021, the Commission for the Financial Market ("CMF") published General Rule 461 which modifies the structure and content of the annual report of issuers of securities registered at the CMF Securities Registry on Environmental, Social and Governance or ESG matters (the "NCG") ...
In the third and final entry of this three-part article series, we share with you the last set of intellectual property (IP)?related mistakes (mistakes #10 to #13) that we regularly see with startups. We hope you will find it useful for your business. Please be sure to read our first and second entries in this series, where we go over mistakes #1 to #5 and #6 to #9, respectively ...
On September 30, 2021, The Ministry of Industry and Information Technology (“MIIT”) issued for public comments the Measures for Administration of Data Security in the Field of Industry and Informatization (for Trial Implementation) (Draft for Comment) (the “Measures”) ...
On 14 November 2021, the Cyberspace Administration of China (“CAC”) published the network Internet Data Protection Draft Regulations (Draft for Comments) (the “Draft Regulations”). The Draft Regulations build on the foundations set by the Personal Information Protection Law, the Data Security Law, and the Cybersecurity Law ...
What happened? Two directors of VTL, a Jersey company, devised a fraudulent scheme. They purported to provide investors with a mechanism to decrease income tax exposure. As it turned out, the scheme was a fraud on the customers. It was also a fraud on VTL: instead of turning over around £4.55 million in proceeds from the scheme to VTL, the directors kept these funds for themselves ...
These newly-minted individuals and families are the recipients of a large portion of the huge wealth generated globally in the past 12 to 18 months, and require special attention from advisors and fiduciary service providers not only to manage and protect their newfound fortune but to deal with the inevitable pressures associated with it. The FirstGen – who are they? Broadly speaking, the FirstGen are original wealth creators who are predominantly from a younger age bracket ...
Key Points Starting in 2022, CalPERS contracting agencies will bear the risk of certain overpayments to retirees that result from compensation reporting errors. The employer, rather than the retiree, will have to repay the overpayment and pay a “penalty” based on the present value of future benefit payment adjustments ...
On Nov. 10, 2021, the General Counsel’s Office of the National Labor Relations Board issued a guidance memorandum [OM 22-03] dictating employers and unions will be required to engage in decision bargaining over discretionary aspects of vaccination policies required by the OSHA Emergency Temporary Standard mandating COVID vaccinations and testing. Under the OSHA Emergency Temporary Standard (ETS), employers must create Vaccination and Testing Policies by Dec. 6, 2021 ...
Key Points New tax reporting provisions on cryptocurrency, as well as criminal consequences for noncompliance, survived in the Infrastructure Investment and Jobs Act (H.R. 3684) signed into law. The legislation imposes potential felony charges for failures to report certain "receipt" of digital assets, as well as expands the definition of "broker" to target crypto exchanges. On November 5, 2021, President Biden signed the Infrastructure Investment and Jobs Act into law ...
Update: On September 16, 2021, the Final Rule on Borrower Appeals of Final SBA Loan Review Decisions was posted and became effective on September 14, 2021 (the “Final Rule”). The Final Rule applies to all appealable final SBA loan review decisions under the PPP and applies to all appeals filed after the effective date and to those appeals filed before the effective date for which a notice and order has not been made ...
Those of you working in the transportation, ports, and maritime industry have a lot to look forward to as America’s roads, railways, ports, and other transportation infrastructure are expected to see improvements now that Congress passed the $1.2 trillion Infrastructure Investment and Jobs Act, H.R. 3684 ...
