Pearse Trust Blog



Upcoming Changes to the UK VAT Grouping Rules

Posted by Pearse Trust on Wednesday, Apr 27, 2016

The United Kingdom Government is currently consulting taxpayers on proposed changes to value-added tax rules that could have an impact on companies operating a VAT group structure. 

VAT grouping provisions are included in both European Union and UK legislation.

Article 11 of the EU VAT Directive allows member states to treat two or more businesses established in the territory of that member state as a single taxable person (a VAT group) if the businesses have close economic, financial, and organizational links.

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Tags: Legal, United Kingdom, Tax, VAT

Regulatory Enforcement and Corporate Offences in Ireland

Posted by Pearse Trust on Monday, Apr 25, 2016

Ireland’s Law Reform Commission (LRC) has published an Issues Paper addressing regulatory questions arising from the international financial collapse of 2008.

Part 1 of the Issues Paper considers whether the supervisory and enforcement powers of Ireland’s main financial and economic regulators are adequate or need to be bolstered by civil financial sanctions and more effective co-ordination between regulators. 

Part 2 concerns gaps in the Irish criminal law and considers whether the law deals sufficiently with serious wrongdoing by corporate bodies, in particular current fraud legislation and the general rules for attributing criminal liability to corporate bodies. 


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Tags: Ireland, Legal

UK Company Administrative Restorations

Posted by Pearse Trust on Monday, Apr 18, 2016

In the UK, it is possible under certain circumstances to restore a dissolved company to the register. 

Under section 1028(1) of the Act, a company that is restored to the register by the administrative procedure is deemed to have continued in existence as though it had not been dissolved or struck off.

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Tags: Legal, United Kingdom, Limited Companies

New Residence & Ownership Rules For New Zealand Companies

Posted by Pearse Trust on Wednesday, Apr 13, 2016

This blog sets out the key changes to residency and overseas ownership rules affecting New Zealand companies and Limited Partnerships.

During the last 12 months, legislation came into effect in New Zealand which introduced new residency and ownership rules for corporate entities.

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Tags: Legal, Corporate Governance, New Zealand, Limited Partnerships

Pre-Incorporation Contracts – An Overview

Posted by Pearse Trust on Monday, Apr 11, 2016

Section 45 of the Companies Act 2014 replaces, with very similar wording, Section 37 of the Companies Act 1963.  It deals with “pre-incorporation contracts”. These are contracts entered into on behalf of a company prior to the date of its incorporation.

Such a contract may be ratified by the company subsequent to its incorporation.  If so ratified, the company becomes bound by it and is entitled to the benefit of it as if the company had been in existence at the date of the contract and had been a party to it.

Prior to, or in default of ratification, the person or persons who purported to act in the name of, or on behalf of the company are personally bound by the contract and are entitled to the benefit of it, unless there is express agreement to the contrary.

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Tags: Ireland, Legal, Corporate Governance, Incorporation

UK Company Share Transfers

Posted by Pearse Trust on Wednesday, Apr 06, 2016

Further to our blog on Share Capital and Share Classes for UK Companies, here we focus on the process of transferring the shares of a company limited by shares. 

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Tags: Legal, United Kingdom, Shareholders, Shares

Doing Business in Ireland: Uncomplicated Corporate Compliance

Posted by Pearse Trust on Wednesday, Mar 30, 2016

Ireland has emerged as the least complicated country in the world for businesses to stay compliant with corporate regulations and undertake commercial operations, according to a new study.

In a recent report ranking 95 countries according to compliance requirements, Ireland was ranked to be the least complicated country in the world in terms of compliance requirements when doing business.

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Tags: Ireland, Legal, Corporate Governance, Economy, Investment

Canada’s Trust Tax Rules Are Changing

Posted by Pearse Trust on Wednesday, Mar 23, 2016

Canadian tax rules surrounding trusts are in the midst of a shake-up. This blog summarizes new tax rules applying to testamentary trusts already in effect, and proposed new rules affecting estate donations and spousal and common-law partner trusts.

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Tags: Legal, Tax, Canada

FATCA’s Here, But Don’t Forget FBAR

Posted by Pearse Trust on Wednesday, Mar 16, 2016

Doubtless, most US expats and Americans with financial interests overseas are by now familiar with the extra reporting obligations imposed on them by FATCA. But there is another obligation they face, with an acronym in the world of foreign account reporting that is already long-established: the Report of Foreign Bank and Financial Accounts, or FBAR. And penalties for even minor infractions of this requirement can be severe.

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Tags: Legal, USA

The European Savings Tax Directive Mark Two

Posted by Pearse Trust on Monday, Mar 14, 2016

The European Savings Tax Directive (EUSTD) was a major feature of the tax landscape of the European Union and certain other jurisdictions for a decade. As of 1 January 2016, however, the EUSTD is no more. This blog looks at what has taken its place.

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Tags: Legal, Tax, EU