Pearse Trust Blog



Northern Ireland's Corporation Tax Bill Explained

Posted by Pearse Trust on Wednesday, Apr 22, 2015


Northern Ireland may be permitted to set its own corporation tax rates by April 2017 should the Corporation Tax (Northern Ireland) Bill (the Bill) be passed.

The Bill, published in January 2015, sets out details of the proposed devolution of tax powers to the Northern Ireland Assembly.

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Tags: United Kingdom, Tax

UK Corporation Tax Rates - An Overview

Posted by Pearse Trust on Wednesday, Apr 15, 2015


This blog provides a summary of the UK corporation tax rates applicable to companies chargeable to corporation tax in the UK. 

Amounts Subject To Corporation Tax

Companies resident in the UK, foreign branch profits of UK resident companies and overseas companies managed and controlled from within the UK are subject to corporation tax in the UK.

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Tags: United Kingdom, Tax

New Zealand Financial Year Ends - What Next?

Posted by Pearse Trust on Wednesday, Apr 08, 2015


­The 2014/2015 financial year came to an end in New Zealand on 31 March 2015. All entities including companies and limited partnerships operating with the standard accounting period ending of 31 March must be aware of their financial and tax reporting obligations.

Standard Balance Date

The tax year in New Zealand runs from 1 April to 31 March each year, with 31 March being referred to as the “standard balance date”. Entities wishing to operate a financial year with a different balance date, referred to as a “non-standard balance date”, must first seek approval from the Commissioner of Inland Revenue.

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Tags: Tax, New Zealand, Finance

UK Charges Registration – Some Key Points

Posted by Pearse Trust on Wednesday, Apr 01, 2015


­A charge is the security which a company gives for a loan and unless specifically excluded, such charges must be registered with Companies House.

Charges which are excluded are as follows:

  • A charge in favour of a landlord on a cash deposit given as a security in connection with the lease of land;
  • A charge created by a member of Lloyds (within the meaning of Lloyd’s Act 1982) to secure its obligations in connection with its underwriting business at Lloyd’s; and
  • A charge that any other act or legislation specifically excludes from registration.
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Tags: Legal, United Kingdom

UK Bribery Act 2010 - Overview

Posted by Pearse Trust on Wednesday, Mar 25, 2015


­The Bribery Act 2010 (“the Act”) came into effect in the UK on 1 July 2011. The Act supersedes previous bribery legislation, including the Public Bodies Corrupt Practices Act 1889 and the Prevention of Corruptions of Acts 1906 and 1916.

The Act was introduced to modernise the law on bribery in order to enhance the effectiveness by which prosecutors and the courts manage anti-bribery cases.

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Tags: Legal, United Kingdom, Economy

Improvements To Ireland’s Special Assignee Relief Programme

Posted by Pearse Trust on Wednesday, Mar 18, 2015


Ireland’s Special Assignee Relief Programme (“SARP”) is a tax relief designed to boost the relocation of key talent to Ireland. The new SARP was introduced in 2012 to assist Irish companies and multinational companies in attracting key employees to Ireland. Where qualifying employees relocate to Ireland, SARP allows income tax relief in the form of a tax deduction from employment income.

The good news is that the Irish Finance Act 2014 has made a number of improvements to the relief which has allowed for the SARP to be available to a larger group of key talent relocating to Ireland since 1 January 2015.

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Tags: Ireland, Tax

The Value Of Intellectual Property

Posted by Pearse Trust on Wednesday, Mar 11, 2015


Understanding the value of your company’s Intellectual Property (“IP”) can be a complex but rewarding process. There are many situations where you may need to ascertain the value of your IP; when selling it, using part of it as security, or where the IP needs to be quantified for the purposes of awarding damages in court proceedings. It is also important to correctly declare the value of your IP when reporting to your local taxation authority.

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Tags: Legal, Intellectual Property

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