News

Are UK Law firms charging too much for general probate?

Findings from a report carried out by the Legal Services Board (LSB) has calculated the approximate prices being charged by UK law firms for services such as appostilation, probate applications, will writing and estate administration.


FASB amends reporting requirements for US companies

The Financial Accounting Standards Board (FASB) in the US have published an update to improve the current system of financial reporting regarding leasing transactions. The update will affect any companies that are leasing any assets in the form of property, vehicles, or general equipment.


The Cayman Islands intensify outsourcing standards for financial firms

Following newly implemented legislation, financial services companies will now be responsible for any damage caused to individual clients, rather than the outsourced service providers.


Trusts: New tax statement rules for land & property transactions

Starting from October 1st, 2015, a complete “tax statement” should be completed by all parties involved in a transaction which includes interest or transfer of land, as part of the registration process in New Zealand.


GIBRALTAR: New proposed legislation amending the LLP Act

The Government of Gibraltar has called for a public consultation on the amendment of the suggested UK legislation regarding the Limited Liability Partnership Act.


Anti-Money laundering report findings could be misleading

The supervisors of AML (Anti-money laundering) across the UK legal sector are warning of a new report that was published by the HM Treasury & Home Office on the risks of money laundering and terrorist financing lacks balance by its own admission and is not supported efficiently.


India requests Switzerlands assistance to help combat tax evasion

India has been offered legal support from Switzerland regarding the case of a high-profiled married couple that is been suspected of evading taxes while hiding money within a HSBC bank account in Geneva.