On March 27, President Trump signed the Coronavirus Aid, Relief and Economic Security Act (CARES Act) which established, among other things, the Paycheck Protection Program (PPP). Under the PPP, the SBA guaranteed loans (PPP Loans) made by SBA Lenders (PPP Lenders) to small and medium-sized businesses (typically, those with 500 or fewer employees). Businesses that obtained PPP Loans (PPP Borrowers) were required to make numerous certifications regarding eligibility to participate in the program,...
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Key Points - - The DRC will affect around 150,000 businesses in the construction industry - It will require those receiving a supply of construction services to account for VAT directly to HMRC - In particular, it will affect VAT registered...By: Katten Muchin Rosenman LLP
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Entrepreneurs' relief (ER) provides for a lower rate of capital gains tax (10 percent) to be paid when disposing of all, or part, of a business, or shares or securities in a personal company, or shares from an EMI scheme, where certain criteria are...By: Katten Muchin Rosenman LLP
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Last night the Prime Minister ordered: - people to stay at home, except for very limited purposes; - closure of non-essential shops and community spaces; and - the banning of gatherings of more than two people in public....By: Katten Muchin Rosenman LLP
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Key Points - The US Court of Appeals for the First Circuit reversed a lower court decision which held that two affiliated private equity funds with indirect ownership interests in the same portfolio company were liable for the obligations arising...By: Katten Muchin Rosenman LLP
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Key Points - The off-payroll rules (IR35) aim to stop individuals from avoiding employee status for tax purposes (and thereby reducing the income tax and National Insurance Contributions (NICs) payable) by supplying their services through an...By: Katten Muchin Rosenman LLP
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In 2018, New York State (NYS) and New York City (NYC) each adopted laws that include measures to address and prevent sexual harassment in the workplace. Among other requirements, the laws — specifically, at 201-G of the NYS Labor Law (NYS Law) and...By: Katten Muchin Rosenman LLP
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Key Takeaways - - The proposed £183 million and £99.2 million fines against British Airways and Marriott, respectively, by the UK’s ICO emphasise: - The need for companies to maintain appropriate data protection practices for personal data under...By: Katten Muchin Rosenman LLP
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