The board of each company has specific aims and responsibilities that should ultimately work towards the long term success of the company. The responsibilities of the board and each individual board member are very rarely set out in the company’s constitutional documents; rather they are often set out within the terms of reference of the board meetings and/or within the documents that detail the remit and responsibilities of each individual board member.
In this briefing, I have attempted to consider two useful cases which deal with residence of non-UK companies for tax purposes.
The Global Forum on Transparency and Exchange of Information for Tax Purposes is a multilateral framework of tax transparency and information sharing with over 140 jurisdictions participating on this initiative.
High Net worth individuals are increasingly interested in acquiring art and collectibles, whether it is as a pure investment to diversify from traditional asset classes, or for social and cultural reasons. No matter the driver for the acquisition or holding of Art, it is imperative that the Trustees take a diligent and meticulous approach in the acquisition, ongoing administration and disposal of art.