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Member News
Member News
31
Jul
As Brexit chief negotiators meet in London for their third round of restricted high-level discussions on the future EU-UK relationship, the UK Government is beginning to show signs of engagement, according to EU Trade Commissioner Phil Hogan.
After leaving the EU’s political and decision-making sphere at the end of January, and ahead of its final departure from the Single Market, the EU and UK have been engaged in tense negotiations over their future social, economic and security relationship from 1...
30
Jul
A framework for achieving and sustaining success in today’s ever-changing economy
You know how important a global mindset is for achieving success in today’s economy—and you're not alone. 80% of HR and payroll leaders we recently surveyed believe that the ability to operate in different countries is vital to their company’s success.
But remaining competitive in the long term requires the ability to analyze your global growth stability, readiness and proficiency. Where does your organization stand?
To help you find out, we’ve created a...
30
Jul
The Tax Cuts and Jobs Act (TCJA) repealed like-kind exchanges (Section 1031) for all other types of property that are not real property. This means like-kind exchanges of personal or intangible property such as machinery, equipment, vehicles, aircraft, boats, artwork, collectibles, patents and other intellectual property generally no longer qualify for non-recognition of gain or loss. Because of this change, the exchange of personal property of like-kind is now considered a taxable event.
The IRS recently released proposed regulations defining...
29
Jul
Business owners know that it’s important to plan for the succession in ownership of their companies. It’s the means by which they secure their retirements and get to see their life’s work continued. That’s why many institute plans for their succession – whether it’s a transfer of the business within their family, to trusted employees who have been groomed to take over, or in a sale to an outside party.
However, just like it has changed so much else in...
29
Jul
Under the transition period as foreseen by the Withdrawal Agreement, UK nationals may continue to reside in the EU without additional measures until 31 December 2020.
With the end of the transition period fast approaching and as announced by the Luxembourg government, UK nationals residing in Luxembourg have begun to receive letters from the Immigration Directorate inviting them to prepare an application for a residence permit in Luxembourg.
Key points on these new residence permits:
Invitations are issued automatically to UK...
28
Jul
Employers’ Continued Use of Return-to-Work COVID-19 Testing Protocols Brought into Question
Until late July, the CDC offered a test-based or symptom-based strategy to govern the timing of “discontinuing isolation” for a person known or suspected to be infected with COVID-19. In an abrupt change in guidance, the CDC announced a test-based strategy is no longer recommended to determine when to discontinue home isolation, except in certain circumstances. The CDC now recommends following only a modified symptom-based strategy, which means:
Persons with COVID-19 who have symptoms and...
28
Jul
On 16 July 2020 the Court of Justice of the European Union (CJEU) invalidated the European Commission’s Implementing Decision on the EU-US Privacy Shield, without a transitional period, thus dealing a harsh blow to transatlantic data transfer.
In a no less sensational decision, the CJEU had already invalidated in 2015 the European Commission’s Implementing Decision on the predecessor to the EU-US Privacy Shield, the US/EU Safe Harbour Framework. Just a few months later, by a new Implementing Decision, the European Commission had certified the successor of the invalidated...
28
Jul
On 26 June 2020 the Corporate Insolvency and Governance Act 2020 (the Act) came into force, introducing a number of permanent reforms to English insolvency and restructuring law. Among these reforms is a standalone moratorium available to any eligible company that is, or is likely to become, unable to pay its debts.
Eligible Companies
The moratorium is available for companies of all sizes (including overseas companies which meet a “sufficient connection” test) unless specific exclusions apply. The exclusions include, inter alia, companies that...
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