Insights & News

New Remuneration Code - For investment firms regulated under the Markets in Financial Instruments Directive

Inbrief

20 February 2024

Since the 2007/08 financial crisis, as a result of both UK government and European initiatives, the financial services industry has been the focus of wide-ranging reform. A key aim of this reform is to align remuneration principles in the various sectors within financial services with a view to ensuring that policies and practices promote, and are consistent with, effective risk management.

Remuneration Codes – for banks, building societies and designated investment firms

Inbrief

19 February 2024

This Inbrief provides an overview of the Remuneration Codes issued by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) – we refer to these collectively as “the UK Regulators”.

Frequently asked questions on termination payments

Inbrief

29 March 2023

Our FAQs Inbrief looks at some of the common tax questions that arise on termination of employment.

Tax rules for employment intermediaries - what this means for agencies and employment businesses

Inbrief

31 October 2022

Over recent years a number of anti-avoidance measures have been introduced in a bid to tackle “disguised employment”. Disguised employment refers to those situations where arrangements are implemented to falsely treat employees or workers as self-employed, primarily to gain a tax or National Insurance Contributions (NICs) advantage.

Remuneration regime: consultation on material risk takers

29 September 2021

The Prudential Regulation Authority is consulting on changes to the identification of material risk takers for banks, building societies and PRA-designated investment firms

IR35 compliance checks: are your ducks in a row?

23 September 2021

Nearly six months on from the introduction of a new IR35 regime in the private sector, HMRC has started IR35 compliance checks in both the financial services and the oil and gas sectors.

Posting employees to the EU, EEA or Switzerland? Don’t forget the social security position

15 February 2021

In a welcome move last week, the EU notified the UK that all EU countries will apply the “detached workers” exception to UK employees who are temporarily seconded to work in the EU. Similarly the UK will apply the detached workers exception for EU employees who are temporarily seconded to work in the UK. This article reviews the latest position.

IR35 reforms and international issues

21 January 2021

The new IR35 rules create some particularly complex issues where a contractor is based outside the UK. This article looks at some of the frequently asked questions.

Don’t leave IR35 until the last minute – five things you should be doing now

06 January 2021

With less than three months to go until significant changes to the IR35 rules take effect in April 2021, this article sets out five steps that employers should consider taking now.

What impact would a no-deal Brexit have on social security contributions?

12 November 2020

With the promised “oven-ready” Brexit failing to materialise and the prospect of no deal apparently growing each day, this article considers the likely effect of a no-deal Brexit on employers’ and employees’ liability for social security contributions where a UK employee is working in a European Economic Area (EEA) country or Switzerland.

Home and away when working from home means working abroad

29 October 2020

Covid-19 is causing many employees to ask if they can work from “home” for an extended period in an overseas country - for example, because it is their home nation or their family is based there. This article explains the potential legal issues and how to avoid the traps.

Covid 19 – what it means for EMI options

03 April 2020

You may wonder what the current Covid 19 crisis has to do with EMI options but in fact there are a number of potential consequences.

Réforme de l’IR35 à compter d’avril 2021

26 March 2020

La réforme proposée de l’IR35 représente le plus grand changement apporté à la taxe à l’emploi depuis des décennies.

April’s employment law changes

24 March 2020

While employers are understandably preoccupied with the coronavirus pandemic and its implications, a number of significant employment law reforms are due to take effect early next month. Here’s a brief round-up.

IR35 reforms to be postponed due to coronavirus

18 March 2020

The government has announced that the planned reforms to IR35 will now take effect on 6 April 2021.

IR35 reform: Regulations give HMRC broad power to recover unpaid tax from end users

24 January 2020

Regulations just published allow HMRC to pursue end users if agencies or other fee payers in the labour chain fail to pay IR35 tax.

IR35 tax changes – what you need to know

06 December 2018

The Chancellor announced in the Budget the latest measure to combat what HMRC calls “false self-employment”, aimed at those who supply their services via their own company.

Sara Cohen writes for Architect’s Choice

Press

03 July 2018

In an article for Architect's Choice, Sara Cohen discusses the concept of business owners sharing ownership with employees.

Matthew Rowbotham writes for PR Week: Is PR ready to share? The employee ownership alternative to the agency model

29 June 2018

In an article for PR Week, Matthew Rowbotham comments on how employee ownership uptake has, generally, remained confined to a few core sectors, and asks, is PR ready to share?

Lewis Silkin advises Cirkle on “transformational” Employee Ownership restructure

Deal

26 April 2018

Leading law firm Lewis Silkin LLP has advised Cirkle, the PR and digital consultancy, on its move to become 60% owned by employees.