Member Articles

In what promises to be a landmark decision, an Upper Tribunal has reversed the findings from a decision issued in August 2017 in the Development Securities case by a First-tier Tribunal, whereby HMRC successfully argued that several Jersey companies administered by VG (Volaw Trust at the time of the 2004 transactions) were tax resident in the UK.

Read more: VG is Victorious in Upper Tribunal Decision

Typically, most traditional private equity funds and investment firms have not focused on owning real estate as a component of their acquired portfolio companies. With that underlying consideration, you may dismiss the notion of private equity benefiting from the recently enacted Opportunity Zones (“OZ”) incentives. However, the OZ incentives not only encompass the more traditional real estate and related required improvement of such real estate, they also extend to businesses that operate within an OZ.

Read more: Private Equity: Seizing the Land of Opportunity Zones

Author: Nick Kelly

The aviation industry on the Island had seen rapid growth since May 2007 when the Isle of Man Aircraft Registry was established to provide services aimed specifically at private and corporate business jets and helicopters. Until recently, the aviation sector on the Isle of Man was seen as one that was relatively low risk, continuing to grow steadily, with high quality clients. All in all, it has been desirable sector in which to work.

Read more: The Future of the Aviation Industry in the Isle of Man

As clients of the firm will know by now, on Monday, April 30, the California Supreme Court issued its long-awaited decision in Dynamex Operations West Inc. v. Superior Court, addressing the standard for determining whether workers are employees or independent contractors under California’s wage and hour laws. As has been widely reported, the Court held that workers are employees under California’s Industrial Welfare Commission (IWC) wage orders (Wage Order No. 9 covers transportation employees) if an employer “suffers or permits” them to work, and that this open-ended standard should be analyzed under the similarly broad ABC test employed in some jurisdictions. While the “suffer or permit” language is found in an IWC order, the Court’s adoption and interpretation of the ABC test is premised expressly and exclusively on the Court’s belief that California public policy favors the classification of most workers as employees.  

Read more: California Supreme Court Clarifies Test for Employment Status Under IWC Wage Orders

In 2016 we foreshadowed Highways England’s intention to trial autonomous vehicles on motorways by the end of 2017, set out in its “Innovation strategy”.  Indeed a variety of trials have taken place with varying results.  However in October 2017 the chancellor upped the ante, now aiming to test fully self-driving cars (with no driver at the wheel) as early as 2019, and allowing fully self-driving cars to operate freely on UK streets from 2021.  This goal is accompanied by an additional £100 million in funding for AI research and development.

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