New York recently Amended the New York LLC Transparency Act. The original version of the law was enacted December, 2023 and mandated disclosure of beneficial ownership of limited liability companies. Please see our previous article for an overview of the Act and the disclosure requirements here.
In the appeal case of Krishnamohan v HMRC [2024] UKFTT 346, the UK’s First-Tier Tribunal determined that an agreement titled “Option Agreement” that was entered into to dispose of certain properties, does not, for capital gains tax purposes, constitute the grant of an option to dispose until the grantee’s right to exercise the option is no longer contingent on events within the taxpayers control.
The case involved the financing of a property acquisition, with the future option to sell certain other existing properties serving as security for the loan.
Here is a rundown of some of Cadwalader’s recent work on behalf of clients:
