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Travers Smith LLP has advised Auto Trader Group plc ('Auto Trader'), the UK's largest automotive marketplace, on its acquisition of Autorama (UK) Limited ('Autorama'), one of the UK's largest transactional marketplaces for leasing new vehicles.
It is certainly a busy time for those in the real estate sector with an interest in tax matters. Next month (April) sees the introduction of the residential property developer tax (RPDT), changes to the REIT rules and the introduction of the qualifying asset holding company (QAHC) regime.
On 15 March 2022, the Economic Crime (Transparency and Enforcement) Bill (the "Bill") received Royal Assent, and is now known as the Economic Crime (Transparency and Enforcement) Act 2022 (the "Act"). As explained in our recent briefing on the Bill, the Act introduces a register of beneficial ownership information for overseas entities that own or buy UK property ("the Register"), as part of the government's package of sanctions against Russia and in order to progress its longer-term strategy of combatting economic crime.
The High Court has confirmed the narrow scope of the "iniquity exception" to legal professional privilege in a fraud claim brought by a London law firm against a former client. The firm sought to rely on privileged communications and confidential information in its evidence.
Find the latest news, views and our analysis of all the key announcements.
We recently hosted a webinar on the UK's new Qualifying Asset Holding Company Regime (QAHC) which will come into effect from April 2022.
On 15 March 2022, the UK's new Economic Crime (Transparency and Enforcement) Act (the "ECA") received Royal Assent. The legislation contains a number of important provisions, including the introduction of a new 'Register of Overseas Entities' and reforms to unexplained wealth orders.
Travers Smith LLP has advised long-standing client Inflexion on the separate acquisition financings of Astrak, a European specialist distributor of parts for construction equipment and enviolo, a specialist in the e-bike components market.
In a bid to bolster its attractiveness to the asset management sector, the UK is introducing a new tax efficient vehicle: the qualifying asset holding company (“QAHC”, pronounced “quack”). The elective regime will be introduced in April 2022 and, by providing a simplified basis of taxation and a host of generous tax benefits, should allow the UK to compete with Luxembourg and other competitor jurisdictions.
We recently hosted a webinar on the UK's new Qualifying Asset Holding Company Regime (QAHC) which will come into effect from April 2022.
In the fifth episode of the series, Knowledge Counsel Jonathan Rush looks at the impact of Brexit on UK law.
Key employment and business immigration developments for employers.
Travers Smith LLP has advised Lothbury Investment Management ("Lothbury") on a joint venture with Oxford Science Enterprises, the Science Business Builder and preferred investment partner of the University of Oxford, to develop state-of-the art laboratory and office space in Oxford city centre.
There is a lot going on in the world of tax which will be of interest to those in the asset management sector. Relevant developments include international projects (such as the ongoing push to implement the OECD’s Pillar One and Pillar Two proposals and the publication of the EU’s shell entity proposals) but the domestic UK position should not be overlooked, with several exciting initiatives in train.
A regular briefing for the alternative asset management industry.
This briefing was originally published on 18 November 2021 and updated on 10 December 2021 and 10 March 2022.
Travers Smith LLP has advised leading insurance brokerage firm, Brown & Brown, Inc. ("Brown & Brown"), on its entry into the agreement to acquire GRP (Jersey) Holdco Limited ("GRP") one of the largest independent insurance intermediaries in the UK.
In the fourth episode of the series, Senior Associate Richard Offord talks about the impact of Brexit on goods, following the UK's departure from the Single Market and Customs Union.
In 2016 the Government introduced a requirement for all UK companies to maintain a register of "People with Significant Control", and announced its intention to establish a register of beneficial ownership information for overseas entities that own or buy UK property ("the Register").