Pearse Trust Blog

New Disclosure Rules For New Zealand Foreign Trusts

Posted by Pearse Trust on Wednesday, Apr 26, 2017

Changes to the foreign trust disclosure rules were introduced by the Taxation (Business Tax, Exchange of Information, and Remedial Matters) Act 2017.  The changes were enacted on 21st February 2017 and include requirements for all trusts to register with Inland Revenue, file annual disclosure returns, and pay registration and filing fees. 

It is important to note that the information will not be publicly available and there is no present intention to maintain a public register of foreign trusts in New Zealand.

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Tags: New Zealand, Trusts

The Great Repeal Bill

Posted by Pearse Trust on Monday, Apr 24, 2017

On the day after the United Kingdom Government finally triggered Article 50 of the Lisbon Treaty, firing the starting gun on its European Union exit negotiations, the Government presented its White Paper presaging the introduction in parliament of the “Great Repeal Bill,” and setting out how the UK intends to legislate its way out of the EU. But, is it a case of Great Repeal Bill by name, but not by nature?

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Tags: Ireland, Repeal Bill

Changes To UK Tax In 2017

Posted by Pearse Trust on Wednesday, Apr 19, 2017

HMRC have introduced several new tax rules and rates, which may affect UK companies and individuals in 2017 and beyond. Below is a brief introduction to some of the changes being introduced in April and a run down of how they may affect your tax computations.

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Tags: Tax, UK

Business Investment Relief - Non UK Domiciliaries

Posted by Pearse Trust on Wednesday, Apr 12, 2017

This relief was introduced in 2012 but has had a poor record of take-up for the reasons stated below.

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Tags: Investment, UK

Exemptions From Irish Dividend Withholding Tax

Posted by Pearse Trust on Monday, Apr 10, 2017

Where an Irish company decides to pay dividends, Irish dividend withholding tax (“DWT”) issues should be considered. The dividend may be liable to Irish DWT, currently 20%.

However, under Irish tax legislation, Irish DWT will not apply in most cases on the basis that certain conditions are fulfilled.

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Tags: Ireland, Tax

UK Creative Industry Tax Relief - Video Games

Posted by Pearse Trust on Wednesday, Apr 05, 2017

The UK government has supported the creative industry for many years with the introduction of tax reliefs for Recorded media and live productions, both covered by separate blogs.

Video Games Tax Relief (VGTR) was introduced in April 2014 and this blog is to provide an overview.

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Tags: United Kingdom, Tax, UK

Director’s Obligations – Disclosures

Posted by Pearse Trust on Wednesday, Mar 22, 2017

The Irish Companies Act requires Directors to disclose their interests in contracts made by the company for recording in a Register of Directors’ Interests.  

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Tags: Ireland, Directors, Corporate Governance

Seed Enterprise Investment Scheme In The UK

Posted by Pearse Trust on Wednesday, Mar 15, 2017

Seed Enterprise Investment Scheme (SEIS) was introduced by the UK government on 6 April 2012 in order to encourage investors to finance start-ups by providing tax breaks for backing projects they may otherwise view as too risky.

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Tags: Tax, Investment, UK

Investors’ Relief In The UK

Posted by Pearse Trust on Monday, Mar 13, 2017

The new Investors’ Relief effectively enables outside investors to obtain capital gains entrepreneurs relief on the disposal of unlisted trading company shares without the requirement to be an employee or officer of the company and hold 5% of the ordinary share capital and  voting rights of the company. 

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Tags: Investment, UK

The OECD's Minimum Standards — A Progress Update Part 2

Posted by Pearse Trust on Wednesday, Mar 08, 2017

The OECD is maintaining a list of countries that have legislated for CbC reporting, along with providing salient details of how the countries are choosing to meet the minimum standard. According to a January 27 statement from the OECD, 57 countries have now signed up to the MCAA on CbC reporting to automatically exchange CbC reports on a multilateral basis. Many others have decided to conclude bilateral agreements.

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Tags: EU, Anti-Money Laundering, AML