FTI Consulting (JD Supra United Kingdom)
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2021 Budget: Income Tax, Employment and Share Schemes
Despite the many and much publicised rumours, the Government did not announce any changes to capital gains tax or pensions tax relief. The other measures in the Budget confirm what has previously been announced, including that income tax rates and allowances will be frozen after the upcoming tax year.
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2021 Budget: Indirect Tax
In the first Budget since the end of the Brexit transition period, the Chancellor has avoided the temptation to adjust the VAT system and instead has concentrated on the VAT COVID-19 relief measures as well as confirming several measures that have been announced previously.
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2021 Budget: Life Sciences
A year on from the Chancellor’s first ‘COVID-19 Budget’, Budget 2021 provides plenty for the Life Sciences sector to digest. The ‘super-deduction’ for capital expenditure will be broadly welcomed, particularly by those in pharmaceutical manufacturing.
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2021 Budget: Corporation Tax and International
Corporation Tax Rates The rate of corporation tax will increase from April 2023 to 25% on profits over £250,000. Although the rate for small profits under £50,000 will remain at 19% and there will be relief for businesses with profits under £250,000 so that they pay less than the main rate.
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A Tale of Two Crowns
Coronaviruses are named for the crown-like spikes on their surface. The combination of the “Two Crowns” - COVID-19 alongside the return of Crown Preference - will result in a significantly more material impact than was originally intended, given the COVID-19 VAT deferral scheme which has resulted in over £28bn of cumulative VAT deferrals. Please see full Publication below for more information.
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The Coronavirus Job Retention Scheme
The Coronavirus Job Retention Scheme (the “Scheme”) is designed to provide payments to employers for the costs of furloughed employees. The Scheme has been extended until 31 March 2021. The Scheme covers the period 1 March 2020 to 31 March 2021. The Scheme was originally due to end on 31 October 2020 and provided reducing amounts of grant under a “phase out”, together with additional...
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It's All on You! The Burden of Proof and Records in Construction
Maintaining records to meet the burden of proof and demonstrate causation in your construction claim or defence is essential. It’s all on you! Burden of proof - The burden of proof to be satisfied in construction matters is in line with civil procedures, namely ‘on the balance of probabilities’. This standard is thought to be vague compared to the higher standard of proof in criminal cases ‘
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Markets-Based Money Laundering: Spotting the Signs Early
The Russian Laundromat case – in which several Russian individuals bought securities through Deutsche Bank’s Moscow office and concurrently sold the same through the bank’s London office – is one of few cases of money laundering involving the markets to make headlines in recent years. These ‘mirror trades’ transferred billions in roubles originating in Russia to dollars paid into offshore...
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Financial Crime Quarterly: Tracking Threats and Opportunities - ISSUE 1 - SEPTEMBER 2020
Bringing criminals under control: Insights into the complexities of financial crime investigations - In recent years, I have had the pleasure – and the honour – of working closely with regulators and enforcement agencies in Europe and around the globe. I have even led a financial crime unit for one of them. The experience could not have been more varied and diverse. Yet, there is a common...
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The Impact of FCA Oversight - Regulatory Requirements For Cryptoasset Firms
Since 10 January 2020, cryptoasset firms have been required to build and maintain anti-money laundering (AML) and counter-terrorist financing (CTF) frameworks to comply with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017. Furthermore, all existing cryptoasset firms are required to register with the Financial Conduct Authority (FCA) by 30
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Stimulus Fraud & COVID-19: Will the Taxpayer Stomach the Inevitable Scandal That’s Coming?
There is an inevitability to it - and the taxpayer knows it’s coming. The question is: when does the blame game start, and who will lob the first stone? Will it result from a whistle-blower, an exposé by an investigative journalist, the interrogation of officials in a Select Committee or a Freedom of Information application (or something else)? Please see full Publication below for more...
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COVID-19: Weekly UK Public Affairs Round-up
This week, as the UK’s Covid-19 alert level is reduced, the Prime Minister has announced the most wide-ranging relaxation of lockdown measures yet, facilitated in part by the reduction of the 2-metre social distancing rule. Meanwhile, additional funds have been pledged to help children “catch-up” with their schooling...
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UK Regulated Utilities Post COVID: Business as Usual or Potential for Change?
The outbreak of COVID-19 is changing the way we all live and work and is causing significant economic challenges for consumers, businesses and communities across the UK. During this period, utility networks, as the backbone of modern society, are playing a critical role in supporting the wellbeing and continued economic health of UK society. The situation is changing rapidly but after several...
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Navigating Project Upheaval - What Should UK Rail Contractors Do Next?
The UK rail industry has been severely impacted by the COVID-19 pandemic with large projects such as High Speed 2 and Crossrail suspended and disrupted for the foreseeable future. Managing risk, recovering costs and transparent communications are critical for keeping projects on track and to safeguarding contractors’ interests – but what happens next? Please see full Publication below for more
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Digital Health 2020 - A practical cross-border insight into digital health law
Introduction - Digital health refers to the intersection of information and communications technology (ICT) with healthcare. By leveraging the technological advancements of the Digital Revolution, digital health has the potential to increase access to high quality care and reduce inefficiencies associated with healthcare delivery. Digital health broadly includes mobile health (mHealth),...
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UK COVID-19 Measures: UK Prime Minister’s Daily Press Conference Updated
Latest COVID-19 Measures Announced at The UK Prime Minister’s Daily Press Conference - 3rd April 2020 - Today the Health Secretary Matt Hancock led the daily Government Coronavirus press conference from Downing Street. He issued a call for patients to participate in three ongoing clinical trials to help find an effective treatment for Coronavirus.
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CONSTRUCTION CONTRACTS - Payment Terms in Public Contracts: is further statutory intervention required?
On the 25th October 2017 Lord Prior of Brampton announced that as part of its review into the 2011 changes to the Construction Act1, the Department for Business, Energy and Industrial Strategy was publishing two consultations on payment practices in the construction sector. The purpose of the consultation was to assess whether and to what extent government intervention may be required in respect...
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Is Brexit an Enabler for Fraud?
The results of our recent Brexit survey, Brexit in the Boardroom - Autumn 2018 Update, show that 80% of UK business leaders are fearful of job losses in their company as a result of Brexit. And two thirds (66%) said they were concerned about employees committing fraud due to the lack of job security that Brexit brings. Please see full Publication below for more information.
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Rebooting friendships after Brexit - What happens after the withdrawal negotiations?
Everyone is so bogged down in the cut and thrust of the tortuous Brexit negotiations that we are in danger of losing sight of the importance for all Europeans of shoring up the genuine friendships and shared values of the UK and EU27. Louise Harvey, Non-Executive Chair at FTI Consulting Brussels, looks at the challenges that the United Kingdom and Europe face in rebuilding important relationships.