This article first appeared in Business Brief.
Changes to regulation and legislation in financial services
continue to come thick and fast – at the moment, financial
services providers are dealing with the introduction of the Common
Reporting Standard as well as proposed changes to rules around UK
non-dom qualification, further changes to the taxation of UK
residential property and the proposed new UK offence of failing to
prevent the facilitation of tax evasion, amongst others.
The task of preparing for these changes is undeniably complex
– both in understanding the details of the new rules as well
as designing and implementing the systems and procedures to address
them.
There is one particular change that is already in force, but
which still requires attention because it involves fundamental
tests which remain unclear.
