Business premises renovation allowances: a 100% relief for capital expenditure

The business premises renovation allowance (BPRA) is a type of capital allowance, and it is a particularly generous one.

Offshore companies: are they being managed appropriately?

When establishing a fund or investment structure considerable time and effort is usually spent at the outset to determine the most appropriate structure. The tax efficiency of the options available will inevitably be a strong determining factor.

Solvency II - the impact on fund managers

Solvency II is attracting increasing media attention. But what is it? And how will it affect fund managers?

AIM: New funding opportunities on the horizon for public companies

The Chancellor's March 2011 Budget introduces changes to the way companies can raise money from Venture Capital Trusts (VCTs) and through the Enterprise Investment Scheme (EIS).

Limited partnerships and UK real estate

A limited partnership created under the Limited Partnerships Act 1907 (the 1907 Act) has unlimited legal capacity and can be used to carry on any form of lawful business including dealing with the development of, and investment in, UK real estate.

How are you measuring up to the FSA's guidance on assessing suitability of investments?

In setting out new guidance on assessing suitability in investment choices the FSA made clear it would be taking an "intrusive" and "intensive" supervisory approach. But as firms begin to look at what the report's findings mean to them, are the action points clear?

Consultation brings greater clarity on plans for UK financial services regulation

In June 2010, the Government announced its plan for the UK's system of financial regulation. HM Treasury set out its initial thinking in a July 2010 consultation, "A new approach to financial regulation: judgment, focus and stability".

Alternative Investment Fund Managers Directive: the key provisions

On 11 November 2010 the European Parliament finally approved the Alternative Investment Fund Managers Directive. Here, we provide a summary of the key provisions of the Directive.

Luxembourg funds: the reform is confirmed

Reform of the tax regime governing partnerships.

Alternative Investment Fund Managers Directive - after a long battle it is finally agreed

The European Parliament resolved to approve the final version of the Alternative Investment Fund Managers Directive yesterday. This represents the final stage of a process that began more than 18 months ago when, on 29 April 2009, the first draft of the directive was issued.

'Overspent, not overtaxed' - the Emergency Budget

George Osborne delivered his first fiscal statement as Chancellor of the Exchequer in today's Emergency Budget. As with all emergencies, we saw the flashing blue lights of tax-raising headlines and triage to deal with the wreckage of the structural deficit in the British economy.

Alternative Investment Fund Managers Directive - the latest developments

On 29 April 2009 the European Commission issued its draft proposal for a Directive on Alternative Investment Fund Managers.

Fund management fees and carried interest

It has always been important when structuring a fund to ensure that the fund manager is adequately incentivised to obtain the best returns for investors.

A Budget for Recovery?

The Budget 2010 was billed as "Securing the Recovery", but is perhaps better branded as a "Budget for First-Time Buyers".

Alternative Investment Fund Managers Directive - update

Extension of the Approved Persons Rules

The Financial Services Authority (FSA) has extended the Approved Persons Rules beyond the directors of firms to include those "exercising significant influence". Firms have to apply for approval for such persons before 6th February 2010.

Non-UK resident companies and liability to UK tax

It has been long-established law that the test for tax residence of a non-UK incorporated company is the place from which central management and control (CMC) is exercised. To answer this question requires a determination of by whom CMC is exercised.

Non-resident companies and UK tax on chargeable gains

Non-UK resident companies are still outside the territorial scope of UK corporation tax on chargeable gains, provided that the company does not have a UK permanent establishment.

Alternative Investment Fund Managers Directive - a sledgehammer to crack a nut?!

This week the European Commission revealed its proposals for a directive on Alternative Investment Fund Managers.

Limited liability partnerships and UK real estate

The Limited Liability Partnerships Act 2000 created a new form of legal entity known as a LLP, which has unlimited legal capacity and can be used to carry on any form of lawful business including dealing with UK real estate development and investment.

When are overseas trust companies UK resident?

On 27 January 2009 HM Revenue & Customs published draft guidance on the application of the residence tests to overseas trust companies. This guidance is important and relevant to investors holding an interest (or units) in an offshore trust or unit trust.

Investment funds - surviving the downturn: avoiding claims and knowing how to deal with them if they arise

The credit crunch has had a grim and unsparing impact upon most markets. Asset prices and investment returns have fallen globally - albeit some markets and products have been affected more (or less) severely than others.

How liable is a trustee?

The current unsettled times are prompting pension scheme trustees to review their own personal liability position. Good scheme governance reduces the risk of claims, but even the very best governed schemes may experience a claim from a member.

An A-Z of Islamic finance

Do you know your Maliki from your Muamalat? Or your Bai al ina from your Bay? Read a glossary of need-to-know terms from Wragge & Co's Islamic finance specialists.

Making investments in UK real estate - a tax haven for non-UK residents?

There are many factors making the United Kingdom an attractive investment destination for a non-UK resident. One of these factors is favourable UK tax treatment and tax incentives given to investment in UK real estate.