Travers Smith LLP has advised longstanding client Equistone Partners Europe Limited ("Equistone") and other selling shareholders on the sale of OneOcean Group Limited ("OneOcean"), one of the largest global suppliers of voyage solutions in the maritime industry, to Lloyd's Register.
Travers Smith LLP is delighted to announce the promotion of 11 lawyers to Senior Counsel as part of its 2022 promotions round. Six of the 11 promoted lawyers are women (55 per cent).
Share plan annual returns for the 2021/22 tax year need to be filed online by 6 July 2022 in respect of all your share incentive arrangements to avoid penalties (an initial penalty of £100 will be due if a return is just one day late).
Travers Smith is advising EMIS Group plc on its recommended £1.243bn takeover offer by Bordeaux UK Holdings II Limited, an affiliate of Optum Health Solutions (UK) Limited and a wholly owned subsidiary of UnitedHealth Group Incorporated.
The UK and Luxembourg have signed a long-awaited re-negotiated tax treaty which will come into force in 2023 if approved by both countries by the end of 2022.
Last month, the UK Government set out its legislative programme for this Parliament in the Queen's Speech. In this briefing, we look at some of the proposals relevant to business which have had less media attention.
Updated 29 July 2022
A regular briefing for the alternative asset management industry.
The Competition and Markets Authority (CMA) has recommended legislating to impose a positive obligation on consumer-facing businesses to disclose information about the environmental impact of their products. It has also recommended changes designed to make it easier to enforce consumer law against companies making misleading environmental claims, to allow orders to be made requiring businesses to make redress payments for environmental harm and to increase supply chain transparency.
In April, the UK introduced a new tax privileged regime for qualifying asset holding companies (QAHCs). However, many in the industry felt that the original guidance on the regime published by HMRC did not provide sufficient clarity as to when the activities of an asset holding company (AHC) would constitute a trade. This was important because a QAHC is almost completely prohibited from trading (trading activities must be both ancillary to the company's main investment business and not substantial).