Pearse Trust Blog

Irish Corporate Entities – An Overview

Posted by Pearse Trust on Wednesday, Feb 10, 2016

In the modern business world, incorporating a company and the legal structure that an entity takes is a critical decision. When assessed correctly, the correct structure can provide substantial advantages for those undertaking commercial affairs. These advantages include limited liability, separate corporate personality, and possible advantageous taxation. With substantial advantages available, the new Companies Act 2014 provides for a number of distinct corporate entities.

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Tags: Ireland, Legal, Incorporation, Limited Companies

FTSE 350 Sees Decline in Corporate Governance Compliance

Posted by Pearse Trust on Monday, Feb 08, 2016

Full compliance in corporate governance for FTSE 350 companies has decreased from 61% to 57%, according to Grant Thornton’s Corporate Governance Review and Trends 2015 Report.

The 2015 figures also show a slight decrease in the number of FTSE 350 companies who complied with all but one or two of the UK Corporate Governance Code provisions; 90% compared to last year’s 93.5%.

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Tags: Legal, Corporate Governance, United Kingdom, Shareholders

Cybersecurity In The EU – An Overview Of The NIS Directive

Posted by Pearse Trust on Wednesday, Feb 03, 2016

A high level of network and information security across the EU is essential to ensure consumer confidence and to keep the online economy running. This, in turn, preserves the proper functioning of the internal market and encourages economic growth.

Unfortunately, information and computing systems (which enable essential services, businesses and the internet to function), are increasingly affected by adverse security incidents.  These incidents can arise as a result of technical failures, unintentional mistakes, natural disasters or indeed deliberate and malicious attacks.  These incidents can disrupt the supply of essential services. 

In 2013, the European Commission published a strategy outlining its plans to ensure a common level of network and information security across the European Union.  This strategy aims to reduce cybercrime and to improve network resilience.  As part of this strategy, the European Commission recommended the introduction of a Network and Information Services (NIS) Directive. 

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Tags: Legal, EU, Website

UK Small Business, Enterprise & Employment Act 2015 – Further Updates

Posted by Pearse Trust on Monday, Feb 01, 2016

In December 2015, the UK Department for Business Innovation & Skills (BIS) published draft statutory guidance for consultation on the meaning of ‘significant influence or control’. The purpose being to determine whether, in the context of companies, a person is a ‘person with significant control’ under the fourth or fifth specified conditions contained in the new Schedule 1A to the CA 2006. This blog is intended as a summary overview of the draft guidance and serves to update our previous blogs on the UK Small Business, Enterprise & Employment Act 2015.

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Tags: Legal, United Kingdom

Increased Trustee Responsibility In UK Charities

Posted by Pearse Trust on Wednesday, Jan 27, 2016

Increased_Trustee_Responsibility_In_UK_Charities.jpgThe UK Charities sector suffered from bad press during 2015 amidst widespread allegations of inappropriate fundraising methods and accusations of data protection breaches. The shortcomings of the charities sector were trumped by an even bigger blow when children’s charity ‘Kids Company’ was closed due to allegations of financial mismanagement following reports that public funding was being spent on accommodation for its clients when the charity was in fact getting the accommodation for free; as well as an ongoing investigation by the Metropolitan Police.

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Tags: United Kingdom, Trusts, Social Responsibility

Changes To UK Property Tax & Relief

Posted by Pearse Trust on Monday, Jan 25, 2016

The Chancellor of the United Kingdom announced in the 2015 Autumn Statement (25 November 2015) changes to UK property tax and relief that will effect landlords and people with additional properties. Changes were announced in relation to:

  • Stamp Duty Land Tax (SDLT)
  • Loan Interest Relief
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Tags: United Kingdom, Tax

Ireland’s New Tax Relief Scheme For Entrepreneurs

Posted by Pearse Trust on Wednesday, Jan 20, 2016

Under the National Policy Statement on Entrepreneurship in Ireland  2014 it was identified that the business and tax environment for entrepreneurs and investors had become more challenging and that the right conditions must be implemented, with both tax rates and incentives supporting entrepreneurship.

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Tags: Ireland, Tax, Economy

Ireland's Companies Act 2014 & The Objects Clause

Posted by Pearse Trust on Monday, Jan 18, 2016

The Companies Act 2014 commenced in June 2015 with the aim of consolidating and simplifying company law in Ireland.  A major change in the law was the creation of a simplified private limited company without an objects clause. This blog examines the objects clause and the effect of Ireland's Companies Act 2014 on same. 

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Tags: Ireland, Legal, Corporate Governance, Limited Companies

Using Big Data To Catch Tax Avoiders

Posted by Pearse Trust on Wednesday, Jan 13, 2016

With tax avoidance at the forefront of Government policy and a major talking point on the international stage at events such as the G20 summit it is not surprising to learn that Her Majesty’s Revenue & Customs (HMRC) are using every tool at their disposal to recoup lost revenue.

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Tags: United Kingdom, Tax, Anti-Money Laundering

Shareholder Agreements – What Are They?

Posted by Pearse Trust on Monday, Jan 11, 2016

As the name suggests, a shareholders’ agreement is one which is entered into between the shareholders of a company. It provides protection in the areas of ownership and sets out the procedures to be taken in relation to certain company related decisions. 

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Tags: Legal, Shareholders