The summer is a welcome break for higher education students across Scotland. But, as coursework and exams are temporarily put to the back of minds, a potential reform is looming that could have major implications on the student living experience in Scotland. This relates to the outcome of a much-anticipated review into its purpose-built student accommodation sector (PBSA) – first initiated in 2021 by the Scottish Government ...
The new biodiversity net gain (BNG) requirements are set to come into force from November 2023. This will legally mandate securing a minimum 10 per cent biodiversity net gain from new commercial and residential developments in England, with a few exceptions. While the requirements - part of the Environment Act 2021 – will have financial and operational implications, the real estate industry has had several years to prepare for BNG ...
Since receiving Royal Assent on 28 April 2022, the Building Safety Act 2022 (BSA) has continued to lumber along - coming into effect in phases and throwing up legal complications as it goes. The government has therefore been required to create secondary legislation – regulations - to seek to clarify and untangle various provisions in the BSA. The Act is reliant on regulations to provide the detail of many of its provisions ...
Activity levels in the residential development market remain lower than developers, lenders and other real estate professionals have become accustomed to over the last 15 years. With 14 base rate rises implemented by the Bank of England (BoE) in the last 18 months - now at 5.25% - the UK is currently subject to the highest base interest rate since 2008 ...
While the next general election isn’t due until January 2025, or earlier, housing is shaping up to be a key battleground for both parties. It could arguably even decide the election. There seems to be clear blue water developing between the two main parties on this issue ...
The Planning (Agent of Change) Bill was a private member’s bill introduced in Westminster in 2018 by former government minister John Spellar to ‘require specified planning controls in relation to developments likely to be affected by existing noise sources’ ...
The Renters (Reform) Bill was given its first reading in May 2023 after five years of consultation and refinement. The Bill seeks to provide greater flexibility and security for residential tenants in England by imposing additional restrictions and obligations on private landlords. The reforms also look to improve the leasehold system through increased regulation, digitisation and standardisation. A noticeable omission from the Bill, however, is an exemption for private lettings to students ...
Chile’s Ministry of Public Works (MOP) announced 11 new projects that will be constructed throughout the country. This announcement is the first call for public works tenders since the beginning of President Boric’s term in office. The portfolio of concessions planned for 2023 calls for investments totaling USD 5.8 billion. Concessions included in the portfolio: New Route 5 in the Santiago-Los Vilos section - USD 1 ...
On August 23, 2023, the extracts from the minutes of the meeting of the Sub-commission of the Government Commission for Control over Foreign Investments in the Russian Federation No. 182/5 dated August 09, 2023, were published. (“Extracts No. 182/5”). The said Extracts No ...
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Craig Thomas and Sarah Buxton take a look at the recent changes to corporation tax. Policy changes It is fair to say that the UK’s corporation tax rate has been on something of a policy rollercoaster of late. As far back as 2016, when the rate was 20%, George Osbourne announced that he would reduce corporation tax to 17% with effect from 2020 (and even expressed his fervent desire to get the rate as low as 15% thereafter) ...
Dan Sharman and Craig Thomas take a look at the tax treatment of salary sacrifice arrangements. Background HMRC has always had a difficult relationship with salary sacrifice arrangements. On the one hand it acknowledges that such arrangements are a legitimate way of employees and employers reducing their tax liability, whilst on the other hand it has looked for ways in which to reduce the amount of tax leakage occurring from such arrangements ...
On July 26, 2023, SERNAC published a new interpretative circular that refers to the protection of the real estate consumer in the sale of real estate and its preparatory acts. Although this circular establishes mandatory guidelines for SERNAC officials, it also constitutes a guide to be taken into consideration by real estate providers when complying with their legal obligations ...
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The government has published its long-awaited response to the consultation on implementing the new building control regime for higher-risk buildings (HRBs) and wider changes to the building regulations for all buildings. The provisions will be implemented through secondary legislation (The Building (Higher-Risk Buildings Procedures) (England) Regulations 2023 and The Building Regulations etc. (Amendment) (England) Regulations 2023)) that will come into force on 1 October 2023 ...
Belgium had accumulated a significant legislative backlog within insolvency law. The European Directive 2019/1023 on restructuring had to be transposed into national law by the member states by 17 July 2022 at the latest. The Belgian government did not submit a draft bill to this effect until 20 March 2023. This draft has since been voted into law and will enter into force on 1 September 2023. Several amendments are being made to (among others) Book XX of the Belgian Economic Law ...
The U.S. Equal Employment Opportunity Commission (EEOC) has published its proposed regulations to implement the Pregnant Workers Fairness Act (PWFA) in the Federal Register. The PWFA, which became effective on June 27, 2023, requires employers to provide reasonable accommodations to employees and applicants suffering limitations from pregnancy, childbirth or related medical conditions ...
August 21, 2023 By: Akana K. Ma On August 14, 2023, pursuant to a Presidential executive order issued several days earlier, the U.S. Department of the Treasury released an Advance Notice of Proposed Rulemaking (the Proposed Rulemaking) announcing a ban on investment by U.S. persons, including U.S.-registered business entities, in three advanced technology sectors in China – quantum computing, artificial intelligence, and semiconductors ...
Inflation Reduction Act Perhaps the most significant recent development in the area of alternative energy, the Inflation Reduction Act of 2022 (IRA) offers approximately USD270 billion in tax incentives to help combat climate change ...
General aspects The Chilean Agency for Economic Development (Corporación de Fomento de la Producción - "CORFO") has announced a series of amendments to its venture capital investment fund financing programs: Early Technological Stages Fund ("FET"), Early Stages Fund ("FT"), and Development and Growth Fund ("FC"). The most significant changes approved by CORFO are listed below, distinguishing between amendments common to all programs and those specific to each one ...
In its judgement delivered on 14th June 2023 in the names of Marco Aquilina & Euro Concrete Blocks Limited vs. Ir-Registratur tal-Kumpaniji, the Civil Court (Commerce Section), presided over by Mr. Justice Ian Spiteri Bailey, decided in favour of the plaintiffs, who successfully challenged the payment and settlement of various alleged administrative penalties imposed by the Registrar of Companies. The pertinent facts of the case are as follows ...
“Who steals my purse steals trash; ’tis something, nothing; ’twas mine, ’tis his, and has been slave to thousands; But he that filches from me my good name Robs me of that which not enriches him, And makes me poor indeed ...
In the latest edition of our HR Improve series, we consider the steps employers can take to improve diversity, equity and inclusion within the workplace ...
