In November 2020, the UK Government introduced the National Security and Investment Bill (the "Bill"). Subject to the passing through UK Parliament, the Bill is expected to become law in early 2021, ushering in a Committee on...more
Earlier this year the Institutional Limited Partners Association (ILPA) released a Delaware-law based Model Limited Partnership Agreement (Model II LPA) for use by private equity fund sponsors wishing to implement a...more
Key considerations for firms -
- Updating business as usual (BAU) policies and procedures to consider logistics, supervision and security;
- Updating business continuity plans (BCPs);
- Compliance with the Senior...more
The impact of the COVID-19 outbreak is being felt across the globe and has been recognised by the World Health Organisation (WHO) as a global pandemic. Like many other governments worldwide, on Monday, 23 March, the UK...more
Entrepreneurs' relief (ER) provides for a lower rate of capital gains tax (10 percent) to be paid when disposing of all, or part, of a business, or shares or securities in a personal company, or shares from an EMI scheme,...more
On October 30, the Institutional Limited Partners Association (ILPA) published a comprehensive, Delaware-law based European style "fund as a whole" waterfall Model Limited Partnership Agreement (LPA) that can be used to...more
The Institutional Limited Partners Association (ILPA) recently published the third edition of the ILPA Principles (Principles 3.0). ILPA originally published the principles in 2009 to encourage discussion between general...more
8/5/2019
/ Carried Interest ,
Clawbacks ,
Corporate Governance ,
Environmental Social & Governance (ESG) ,
Fund Managers ,
General Partnerships ,
Institutional Limited Partners Association (ILPA) ,
Investors ,
Limited Partnerships ,
Line of Credit ,
Management Fees ,
New Guidance ,
Private Equity ,
Private Equity Funds ,
Shareholder Distributions
The UK Government has recently proposed further changes to the Entrepreneurs' Relief rules which could make it easier to obtain Entrepreneurs' Relief in certain cases....more
In the UK Government's Fall 2018 budget (Budget), recent changes were announced to Entrepreneurs' Relief to ensure that relief is available only to "genuine entrepreneurs". Entrepreneurs' Relief reduces the rate of capital...more
The UK Government recently published a draft Registration of Overseas Entities Bill that will require foreign entities who own or desire to own land in the UK to take steps to identify their beneficial owner(s) and to...more
On 6 July 2018, the UK Government published draft legislation to extend the territorial scope of UK tax by bringing capital gains realised by non-UK resident investors from UK real estate within the scope of UK taxation with...more
The UK government has recently launched a consultation on proposals to reform UK limited partnerships (LPs). LPs have long been considered to be an attractive investment vehicle due to the limited liability of limited...more
Decision confirms that oral modifications to a contract will not be effective if the contract contains a no oral modification clause.
In a recent decision, the UK Supreme Court confirmed that an oral modification to a...more
The UK government has recently provided further details regarding how it intends to implement a register of non-UK legal entities that own UK property....more