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Thursday, April 1, 2021 The Fourth Money Laundering Directive ((EU) 2015/849) (MLD4) was implemented in the United Kingdom as a result of The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulation 2017 (SI 2017/692). In order to fulfil the requirements of MLD4, HM Revenue & Customs (HMRC) introduced the Trust Registration Service (TRS) to help combat money laundering and terrorist financing in the United Kingdom. Because of further European Directives, the TRS has now been extended with wide-reaching consequences. Read on for a discussion of who is affected and key implications. IN DEPTH What Is the Trust Registration Service? The TRS is an online portal which provides certain trustees and personal representatives with a relatively user-friendly way to satisfy their registration obligations with HMRC. Under MLD4, only specified express trusts with UK tax consequences or “complex estates” needed to be register ....
Thursday, April 1, 2021 On March 29, 2021, Governor DeSantis signed into law CS/SB 72, a sweeping and powerful new COVID-19-related claim immunity shield. The Act, “Civil Liability for Damages Relating to COVID-19,” provides several powerful protections in a new statute (section 768.38, Florida Statutes) for businesses, educational institutions, governmental entities, and religious institutions, and separately (section 768.381, Florida Statutes) for health care providers. The new law became effective upon the Governor’s signature. Although COVID-19-related claims have been few – less than a dozen known as of the enactment – the new law aims to dissuade those potential claimants who may be waiting in the wings. ....
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Thursday, April 1, 2021 On March 11, 2021, President Biden signed into law the American Rescue Plan Act (ARPA), which extends and expands several provisions of the Families First Coronavirus Response Act (FFCRA). Tax Credit Extensions As employers will recall, the FFCRA tax credit had been extended through March 31, 2021 to qualifying employers that voluntarily chose to continue to provide Emergency Paid Sick Leave (EPSL) or Emergency Paid Family Leave (EPFL). The ARPA has now extended the FFCRA from April 1, 2021 through September 30, 2021. Emergency Paid Sick Leave and Emergency Paid Family Leave Extensions Under the ARPA, employers are eligible for the tax credit if employers voluntarily provide employees up to 80 hours of EPSL from April 1, 2021 through September 30, 2021. This includes employees who have already used their 80 hours under the FFCRA, essentially creating a refresh of EPSL for all employees. ....
Thursday, April 1, 2021 On March 19, 2021, California Governor Gavin Newsom signed Senate Bill 95 (SB95), significantly expanding California’s COVID-19 Supplemental Paid Sick Leave (CSPSL). This latest legislation now requires any California employer with more than 25 employees to provide CSPSL in addition to regular paid sick leave offered. The new law also authorizes CSPSL for providers of in-home supportive services and waiver personal care services. IN DEPTH RETROACTIVITY SB95 is retroactive to January 1, 2021, meaning any unpaid leave that has already been granted for any of the qualifying reasons below may require reimbursement. In order to be paid for leave already taken for a qualifying reason, employees must make an oral or written request to the employer. The employer must then issue payment on or before the payday for the next pay period. Any retroactive CSPSL counts toward the employee’s CSPSL entitlement. ....