Relevant filing system meaning

In this issue: Tax treatment Company law and regulatory matters Employee benefit trusts Corporate governance Useful information Dates for your diary Weekly highlights from other practice areas Tax treatment Reminder—Annual share schemes returns filing deadline is 6 July 2025 If a company operates a tax-advantaged or non-tax-advantaged employee share scheme under which UK participants acquire shares or share-based awards, an online annual return must be submitted to HMRC for that scheme. The deadline to file annual share scheme returns for the 2024–25 tax year is 6 July 2025, and a scheme must already be registered with HMRC before a return can be lodged. HMRC has made available templates, guidance and technical notes detailing the information to be included in the return. There is a separate template for each category of scheme, so it is essential to select the correct version. Even where a registered scheme has no reportable events during the relevant year, a nil return...

This month has seen multiple merger control milestones: in Aruba, a new competition law featuring a merger control regime commenced; the Australian government published proposals to amend its merger regime; Belarus announced that revised thresholds will take effect on 7 July 2024; Egypt issued implementing regulations for its newly established pre-merger regime; and the UK adopted a new phase 2 merger review process. Aruba—new competition law enters into effect In Aruba, the Competition Regulation is now in force. It spans the three principal pillars of competition law, including merger control, and establishes a mandatory filing system. A deal must be notified where: the parties’ aggregate annual turnover is at least Afl 125m (approximately €64m/US$69.3m); and at least two parties each generate turnover of Afl 15m (approximately €7.7m/US$8.3m). There is also a duty to report where the participants hold a market share of 30% or more in one or more relevant markets in Aruba. At this stage, notifications are required for information-gathering...

This Resource Note summarises the key provisions in Chapter 5 of the Disclosure Guidance and Transparency Rules (DTR 5). It addresses the reporting duties of holders and issuers of interests in voting rights in an issuer whose shares are admitted to trading on a regulated or prescribed market in the United Kingdom. It signposts relevant commentary, analysis and resources to aid interpretation and provide practical guidance on applying DTR 5. Setting the scene Where relevant, the materials referenced include: the Financial Conduct Authority (FCA) Handbook FCA Guidance in the FCA Knowledge Base—Procedural notes and Technical notes (which constitute formal guidance and bind the FCA) FCA consultation papers, discussion papers, policy statements, feedback statements and warnings Primary Market Bulletins and other FCA publications former UKLA technical and procedural notes and the UKLA’s newsletter List!, where still relevant to interpreting or applying a provision assimilated EU legislation EU Directives and EU Regulations, where still pertinent to construing a provision materials...

NOTE—to check whether notification thresholds in Uruguay and around the globe are triggered, see further: Where to Notify. 1. What recent changes affect the Uruguayan merger control regime, what updates are anticipated over the next year, and are there any other ‘hot’ merger control topics in Uruguay? Recent reforms to the Uruguayan merger control regime Since 2021, Uruguay has enacted a series of statutes—namely Act No. 20,075, Act No. 20,212, and Act No. 20,446 (the Reforms)—which amend Act No. 18,159 on the Promotion and Defence of Competition 15/2007 (Competition Act 2007), itself previously revised by Act No. 19,833 and Act No. 19,996. These measures brought significant adjustments to the country’s merger control framework, such as: changes to the review timelines applicable to the Enforcement Body; clarifying the moment the statutory review clock starts to run; creating additional extensions for particularly complex filings; and implementing a dual-threshold notification system based on combined and individual turnover. The Reforms also codified...

Long residence and private life resources—overview The ten-year long residence route set out in the Immigration Rules, Part 7, does not allow dependants to submit applications alongside the principal applicant. This means joint filing is not available under this route. Dependants may, however, apply independently where they satisfy the criteria of the relevant rule. By way of illustration, if a husband and wife have each been lawfully present in the UK for ten continuous years, they must each file their own separate applications under the long residence provisions. See Immigration Rules, Part 7, para 276B–276C. When a Tier 2 (General) migrant secures indefinite leave to remain (ILR) through the long residence rules, their spouse may have scope to seek leave to remain as the spouse of a settled person under Immigration Rules, Appendix FM (see Practice Note: Partners applying for limited leave to remain under Appendix FM: eligibility tables)...