The Economic Crime (Transparency and Enforcement) Act 2022 (the “ECA”) received Royal Assent on 15 March 2022. The ECA covers three main areas – the creation of a register of overseas entities (the “Register”), amendments to the unexplained wealth orders regime, and amendments to the sanctions regime. This note provides a brief overview of the creation of the Register and what impact this will have on overseas owners of UK property.
Property Litigation Partner, Jonathan Ross, summarises the top 10 key takeaways from the launch of the Commercial Rent (Coronavirus) Act.
The Commercial Rent (Coronavirus) Bill is being finalised in Parliament and should receive Royal Assent, 25 March 2022. The Act will be called the Commercial Rent (Coronavirus) Act 2022.
On 25 February 2022 the UK and Singapore signed the UK-Singapore Digital Economy Agreement (DEA), the first digitally-focused trade deal signed by a European nation. The DEA aims to strengthen and increase the UK’s trading relationship with Singapore which was worth £20 billion in 2020.
This note provides an introduction to discretionary trusts, and an overview of the control mechanisms that can be incorporated into a trust arrangement - including the appointment of protectors and the use of letters of wishes.
Towards the end of 2021, the Law Commission published its Advice to Governments: Smart Contracts, concluding that England and Wales’ current legal framework can accommodate smart legal contracts without the need for statutory reform, although there are several potential issues which require further thought.
In light of an HMRC change of practice, remittance basis users need to take additional care if providing collateral over non-UK assets for loans brought into or taken out in the UK.
‘Letters of wishes’ play an important role in respect of trusts; both those created on death (by Will) and during lifetime.
Download our Build to Rent A-Z Guide - helping you get to grips with the terminology and key concepts behind this rapidly evolving market.
The Corporate Insolvency and Governance Act 2020 (“CIGA”) was enacted in June 2020 and introduced certain business rescue reliefs and insolvency measures, some temporary and others permanent in nature. Now, 18 months later, as the UK emerges entirely from Covid-related restrictions, the temporary measures have fallen away, but what is the continued impact of CIGA from a supply point of view?
Pages
