Pearse Trust Blog

Settlors’ & Protectors’ Control Over Trust Assets

Posted by Pearse Trust on Wednesday, Mar 04, 2015

This blog examines the powers that settlors and protectors may wish to retain over assets vested in a trust. However, as most trust professionals are aware, the extensive transfer of powers to a settlor or a protector has a downside. To give substance to a trust, it is essential that the trustee is able to perform its fiduciary duties, honestly and in good faith for the benefit of the beneficiaries.

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Tags: Legal, Trusts

US FTC Charges Data Brokers With Facilitating Of Data Theft

Posted by Pearse Trust on Wednesday, Feb 25, 2015

In an interesting case developing in the United States, the Federal Trade Commission (“FTC”) has issued proceedings against a data broker, LeapLab, for the selling of sensitive personal information of hundreds and thousands of consumers to third parties. The FTC allege that these third parties had no legitimate need for the information.
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Tags: Legal, Intellectual Property

New Residency Rules For New Zealand Limited Partnerships

Posted by Pearse Trust on Wednesday, Feb 18, 2015

Changes To The Limited Partnerships Act 2008

The Limited Partnerships Amendment Act 2014 (and Amendment Regulations) came into force on 1 September 2014 and introduced some important changes for New Zealand Limited Partnerships (“LPs”). One of the principal changes is the introduction of new residency requirements for general partners, which is summarised below.

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Tags: Legal, New Zealand, Limited Partnerships

The Small Business, Enterprise & Employment Bill – PSC Register

Posted by Pearse Trust on Wednesday, Feb 11, 2015

The Small Business, Enterprise and Employment Bill (“SBEE”) has now passed through the UK House of Commons and is currently under consideration by the House of Lords. The SBEE will implement a UK Government commitment to promote an agenda of corporate transparency and international tax reform.

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Tags: Legal, Corporate Governance, United Kingdom

Changes for New Zealand Companies – Companies Amendment Act 2014

Posted by Pearse Trust on Wednesday, Feb 04, 2015

Changes To The Companies Act

The Companies Amendment Bill, which creates the Companies Amendment Act 2014 (“the Act”) was passed into law by Royal assent on 2 July 2014.

The legislation will introduce important changes affecting the registration of New Zealand Limited Liability Companies. It aims to prevent the misuse of New Zealand companies, particularly “shell” companies, by criminal organisations and also to enhance the powers of the Registrar of Companies.

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Tags: Legal, Directors, Corporate Governance, New Zealand

Update To The UK Corporate Governance Code 2014

Posted by Pearse Trust on Wednesday, Jan 28, 2015

Corporate Governance is broadly concerned with the relationships between shareholders of a company and its board. Effective governance should facilitate efficient, entrepreneurial and prudent management that delivers long term value to a company’s shareholders.

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Tags: Corporate Governance, United Kingdom

FRC Guidance On The Strategic Report - Overview

Posted by Pearse Trust on Wednesday, Jan 21, 2015

In June 2014, the Financial Reporting Council (“FRC”) in the UK published Guidance on the Strategic Report, a new reporting obligation established to provide investors with a greater understanding of how companies are run and their strategic direction.

The guidance has been issued in line with the FRC’s programme of work in respect of promoting clear and concise reporting to allow potential investors to establish their thoughts about the company’s performance, its current position and its future prospects.

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Tags: Corporate Governance, United Kingdom

Reforming The UK Patent Box Regime

Posted by Pearse Trust on Wednesday, Jan 14, 2015

Patent Box Regimes are deliberate government tax policies designed to encourage and promote innovation by providing tax concessions on worldwide income attributable to certain types of Intellectual Property (“IP”), subject to particular conditions.

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Tags: United Kingdom, Tax, Intellectual Property

UK Corporation Tax Payment Filing & Payment Dates

Posted by Pearse Trust on Wednesday, Jan 07, 2015

The purpose of this blog is to provide a summary of the UK corporation tax return filing dates and due dates related to the payment of corporation tax.

Filing Dates

A UK tax resident company is required to file a corporation tax return (CT600) for each Chargeable Accounting Period (“CAP”). There are detailed rules to determine the commencement and end of a chargeable accounting period.

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Tags: United Kingdom, Tax

Continuous Improvements To Ireland’s R&D Tax Credit

Posted by Pearse Trust on Wednesday, Dec 17, 2014

There have been continuous improvements to Ireland’s Research and Development (“R&D”) Tax Credit since its introduction in 2004.

The 2015 Budget also made a major amendment to the R&D Tax Credit. The 2003 “base year” will be removed entirely from 1 January 2015.

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Tags: Ireland, Tax, R&D