Jordans Trust Company blog

Our blog will keep you up-to-date and reliably informed about the latest insights and news from the world of business.

The holding of financial records by a BVI business company

06 May 2016
Since the introduction of the BVI Business Companies Act, 2004, the requirements for a BVI business company to maintain and hold financial records have steadily increased. This was done by amending the Mutual Legal Assistance (Tax Matters) Act, 2003 in 2012 and again in 2014. The requirements have now been consolidated and expanded in amendments made to the 2004 Act by the BVI... Read More AboutThe holding of financial records by a BVI business company »

By Philip Jacques

Limited liability partnerships: register of people with significant control

04 May 2016
Although principally aimed at UK private companies, my blog of 6 April 2016 also referred to the obligations on LLPs to keep and maintain a register of people with significant control. The requirements for LLPs have been adapted to fit with this entity and are contained in the Limited Liability Partnerships (Register of People with Significant Control) Regulations 2016.  ... Read More AboutLimited liability partnerships: register of people with significant control »

By Philip Jacques

Employed vs. self-employed: determining worker status

29 Apr 2016
Determining worker status is an important part of defining the relationship between worker and employer. Whether an individual is considered employed or self-employed will determine how their income tax and National Insurance is calculated and paid. In employment law there are implications for employment rights like redundancy, for example. Not only does worker status affect the rights... Read More AboutEmployed vs. self-employed: determining worker status »

By Owen Sanders

A summary of our Cyprus seminar

13 Apr 2016
Last month, we hosted a seminar and networking lunch at the Hilton Cyprus, Nicosia. The aim of the seminar was to explore significant legislative changes in the UK, BVI and Seychelles. Expert speakers from our offices around the world attended, to give the delegates important information and news about the different jurisdictions where new legislation is affecting much of our... Read More AboutA summary of our Cyprus seminar »

By Richard Melton

Register of people with significant control in force from 6th April 2016

06 Apr 2016
From 6 April 2016 unlisted UK companies and all LLPs registered in the UK must keep a register of all people who have significant control over them (the “PSC Register”). If the PSC Register is not in place at that date the law will impose penalties. The purpose of the register is to reveal those who ultimately own or control the company or LLP. The PSC Register is to be sent to Companies... Read More AboutRegister of people with significant control in force from 6th April 2016 »

By Philip Jacques

Payroll changes - 2016/17 tax year

24 Mar 2016
National Living Wage From 1 April 2016, workers aged 25 and over will be entitled to a new minimum pay rate of £7.20 per hour, called the National Living Wage (NLW). The current National Wage will continue to apply for employees aged under 25. Employers need to find out about the changes and what needs to be done before 1 April 2016 to avoid penalties. HM Revenue & Customs... Read More AboutPayroll changes - 2016/17 tax year »

By Claire Jaques

Employment allowance - can my company still apply?

23 Mar 2016
For the past couple of years most employers have been able to reduce their employers National Insurance liability by an allowance of £2,000. For the new tax year (2016-17) the employment allowance increases to £3,000. However there will be a restriction. This will prevent this being claimed by single person companies i.e. where the employee is the director of the limited company. To... Read More AboutEmployment allowance - can my company still apply? »

By Claire Jaques

BVI: FATCA

21 Mar 2016
The BVI Government has recently released a notice reminding BVI Financial Institutions of their reporting obligations under the Inter-Governmental Agreements that have been signed with the UK and US governments. This is commonly known as UK and US FATCA. If you believe that your BVI business company is caught by these agreements, we strongly recommend that you review the notice. You... Read More AboutBVI: FATCA »

By Philip Jacques

Seychelles vs BVI – Battle of the offshore companies

14 Mar 2016
If you’re looking to form an offshore company, one of the biggest decisions you’ll need to make is which jurisdiction you would like to set it up in.   At Jordans Trust Company, we are responsible for setting up offshore companies across many jurisdictions in financial centers around the world. The Seychelles and the BVI are two jurisdictions which are very popular when it... Read More AboutSeychelles vs BVI – Battle of the offshore companies »

By John Swann

ATED – What is it? What does it mean for me?

25 Feb 2016
ATED is an annual tax payable mainly by offshore companies that own UK residential property valued at more than £1 million. You’ll need to complete an ATED return if your property: is a dwelling . is in the UK. was valued at more than £2 million on 1 April 2012, or at acquisition if later, for returns from 2013 to 2014 onwards. was valued at more than... Read More AboutATED – What is it? What does it mean for me? »

By Claire Jaques

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