Micro News

A Provençal court in France has set precedent in the Wills & Estate Planning, by handing down judgment on a dispute over the estate of the wealthy Lady Wendy Blake’s estate , who had removed her children from the entirety of her will and given her estate to a neighbour who had befriended her in her final…

More than two months after the deadline set by the European Union’s Fifth Anti-Money Laundering Directive (5MLD). Only five full Members of the European Union have set up publicly available registers of company beneficial ownership, in addition to the UK, they are: Bulgaria. Denmark. Latvia. Luxembourg. Slovenia.  According…

According to a family law expert, the UK government have decided to scrap plans to negotiate a custom-built family law agreement with the European Union, taking immediate effect from January 2021.  It is expected that divorce jurisdiction will be based on the existing framework, however the bespoke…

The HMRC in the UK has announced that non-UK resident individuals affected by coronavirus travel restrictions who may be forced to stay in the UK for longer than the normally permitted 60 days will be seen as having in 'exceptional circumstances' for the purposes of determining UK tax residency length.  However,…

The Association for Tax Technicians have stated that the UK government could prompt unintended consequences when bringing new legislation into force, by introducing an additional 2% stamp duty land tax (SDLT) for non-UK residents buying residential property in the UK from April 1st 2021.  The main practical…

Individuals who received an unexplained wealth order (UWO) in the UK are challenging it in the England and Wales High Court. The Grandson of Kazakhstan's former President Nazarbayiv, and two other family members are challenging the legitimacy of the UWO issued last year in May 2019; which requests an…

Switzerland's parliament has passed a vote which would train the federal government in Switzerland to draft legislation obliging all foreign investors buying assets in the country to apply for official approval before doing so.  The government actually opposed the vote, which was prompted by the buying…

The Cayman Islands Grand Court has issued three judgments of interest in trusts and equity law. One ruling to private clients and the others to trustees of Cayman Islands trusts, which cover the issuance of letters of wishes; the absolution of a trustee's discretion to the court, and the creation of…

Turkey's digital services tax, approved in December 2019, came into effect on March 1st. This will impose a 7.5% tax on income from certain interactive digital services earned by companies with global annual turnover of at least EUR €750 million and domestic source revenues of at least 20 million Turkish…

The closing date for Cayman Islands entities to file reports under the automatic exchange of information regulations for the 2019 reporting timeframe has once again been extended from July 31st to September 18th 2020.  The reason this time, is due to the International Tax Cooperation’s team’s task to…