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January 2018

Restaurants in Coventry see fastest turnover growth in the UK - as London lags behind

Coventry’s restaurants saw the fastest growth in turnover of the UK’s major cities over the long term, increasing at 96% per annum over two years to £187m in 2015 from £64m in 2013.

Government to publish response to consultation on the public register of foreign ownership of UK property ‘shortly’.

Further to our update in April 2017 the Government has announced that it will publish its response to the consultation “shortly” and that it will publish draft laws this summer following which the register will go live by early 2021.

PRIIPS and MiFID II: Cost and charges considerations

Two key pieces of regulation that impact how firms demonstrate transparency to clients when interacting with them throughout the lifecycle of a relationship, went live this week: Packaged Retail and Insurance-based Investment Products (PRIIPs) Regulation and the Markets in Financial Instruments Directive II (MiFID II).  

MiFID II: Loss of VAT exemption for research?

MiFID II went live on 3 January 2018. In scope, firms will have considered the impact of the regulatory changes being introduced, but may not be aware of the VAT implications of MiFID II in respect of the provision of research.