GDPR: the impact on the hotel and leisure sectors
Organisations within the hotel sector globally will have until May 2018 to comply with the EU General Data Protection Regulation (GDPR) or potentially face fines of up to 4% of annual turnover or €20 million – the greater of. Organisations need to ensure that their Data Protection Officers, IT directors or managers are fully up to speed so that their operations are compliant.
VAT victory for care home over “business ending” VAT law
The recent VAT case of Balhousie Holdings Ltd, which entered into a sale and leaseback arrangement for one of its care homes, has seen the taxpayer successfully appeal against an £800,000 VAT bill caused by an obscure piece of legislation. To make matters worse, HMRC tried also to apply a penalty of £144,000.
Family offices – beware of unexpected VAT and duty costs on international movements of goods
Moving goods from one country to another can trigger unexpected VAT and customs duty charges. This can be a particular issue for high net worth individuals moving high value goods, such as horses, works of art, cars and yachts.
Shipping must disclose or risk being exposed
Corporate governance in shipping has been in sharp focus recently, particularly following publication of the research by Wells Fargo Securities into Shipping’s Corporate Governance War. Businesses in today’s shipping industry are expected to fully comprehend the implications of inadequate management of conflict of interest arrangements, and to recognise the importance of independent directorship.
New rules affecting property development from 5 July
An update from Vincent Wood, tax partner, regarding potential unwelcome tax liabilities for property developers.
Tech start-ups: don't snub good governance
Are technology start-ups sometimes naive when it comes to embedding a good governance culture within their core values?
Brexit and potential impact on the culture, entertainment and media sector
The age of ’Cool Britannia’ may be a distant and faded memory but the result of the referendum brings back into focus the challenges facing cultural industries which, in many cases, don’t have borders and interact strongly with partners both in Europe and the US.
Construction firms missing out on billions in unclaimed R&D tax credits
Construction companies are missing out on billions of pounds a year in research and development (R&D) tax credits by failing to claim for their full entitlements. This is due to many construction firms being unaware that their existing activities are well within the scope of the tax relief available.
The Chilcot review: governance issues arising
When it goes wrong, it can go badly wrong.
The reputations of individuals, organisations and institutions can be significantly harmed and legacies irreparably damaged.
Making the best of Brexit despite ‘Texit’ fears
The technology sector may be hacked off by the UK’s Brexit vote and there is a risk that some companies may ultimately decide to ‘Texit’ and leave the UK. Nevertheless, the outlook isn’t all doom and gloom. UK tech companies can still thrive, but they need to make their voices heard.