Now may be a good time for multinational enterprises with subsidiaries in low or no tax jurisdictions to consider the amount of economic substance they have in these jurisdictions: to ensure compliance with economic substance rules, generally enacted from 2019 onwards, largely in response to the requirements of the OECD Forum on Harmful Tax Practices and the EU Code of Conduct Group; and to alleviate the impact of the Pillar 2 rules, which will begin to apply from 1 January 2024, multinational groups should consider substance for the “Substance-based Income Exclusion”.

Four and a half years after the UK voted to leave the EU, a deal between the UK and EU was finally reached. The expiry of the transition period on 31 December 2020 marks the start of a new relationship between the UK and the EU. We have identified the…

The UK Government’s refusal to request an extension to the Brexit transition period, along with the outstanding issues in the negotiations, means that the chances of the EU and the UK trading on a “no-deal” basis as of 1 January 2021 have increased. It is vital, therefore, for companies to…

A company’s AGM is one of the highlights of the financial calendar. Although attendance varies considerably between companies, the London market continues to value the opportunity to meet with, and question, the Board on an annual basis. The current, and possible future, guidance and restrictions on public meetings in the…

On 17 October 2019 the UK and EU approved a revised Agreement on the withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union and the European Atomic Energy Community, as endorsed by leaders at a special meeting of the European Council, a legally binding…

As the deadline for the UK’s withdrawal from the EU approaches, and Brexit negotiations continue, it is vital for companies to address the challenges to their business. We have identified the key areas that will be impacted by a “no-deal” Brexit and outlined recommendations of what to consider for each…