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We should be embarrassed to be at the top of the list in the UK. That being said, change is coming to the law in the UK[1] - I hope it's enough to turn the tide

We should be embarrassed to be at the top of the list in the UK. That being said, change is coming to the law in the UK[1] - I hope it's enough to turn the tide. [1]: https://changestoukcompanylaw.campaign.gov.uk/ https://changestoukcompanylaw.campaign.gov.uk/

switch007 3y ago
Oh lots of changes to make it harder for small companies to register and file. I’m shocked… Getting rid of web filing in favour of software filing seems retrograde
skywal_l 3y ago
Does this apply to the City of London[0]? My understanding is that it has its own rules with regards to transparency for example. [1] [0] https://en.wikipedia.org/wiki/City_of_London https://en.wikipedia.org/wiki/City_of_London [1] https://platform-production.s3.amazonaws.com/therules-134-City_of_London_Campaign_FAQ.pdf https://platform-production.s3.amazonaws.com/therules-134-Ci... EDIT: Added a reference.
- alexchamberlain 3y ago
  Not sure exactly what you're referring to. There are additional rules if you're listed on the London Stock Exchange (both legal as a PLC and contractual with the exchange itself, if I understand it correctly), but that's not the City per se?
  - flipbrad 3y ago
    AFAIK these are changes that apply to any company in the UK (whether or not theyre LSE-listed). This also wouldn't depend on whether they operate within the City of London.
- walthamstow 3y ago
  The City isn't a seperate legal jurisdiction in this way. The Corporation of London has special rules regarding itself only, as a local authority. The City, as a place, hosts companies who offer services that can move your funds to seperate jurisdictions, but these companies are subject, AFAIK, to all England&Wales law. Lastly, the tax dodged in the City was often not going to the UK Exchequer anyway, usually it was diverted from the treasury of a developing country. We slap a fee on that work and call it an economy.
asystole 3y ago
You hope? Why? How does it affect you?
hermitcrab 3y ago
Money laundering will soon be all the UK has left.
- foofie 3y ago
  The Netherlands is already capitalizing quite handsomely from the infamous Brexit. This would be funny if not for the impact this has on both nation's working class, the British for losing jobs and economic activity and the Netherlands for falling victims for the housing crisis.
  - contravariant 3y ago
    Could you expand a bit what you mean by Brexit causing the housing crisis in the Netherlands?
    - walthamstow 3y ago
      I'm not the parent but many multinationals, EU agencies and NGOs have moved some or all staff from London to Amsterdam. An example is the European Medicines Agency.
    - foofie 3y ago
      > (...) Brexit causing the housing crisis in the Netherlands? I didn't claimed Brexit caused the dutch housing crisis. What I referred to was how more institutions and corporations have moved and are moving to the Netherlands, and with them they bring in high-paying jobs filled by an ever increasing expat community. Housing is scarce already and the sudden inflow of people with a higher purchasing power are progressively pricing locals out of the housing market, worsening a problem that's already quite bad. The latest dutch elections already reflect the growing discontent of average dutch people towards the immigration wave. Even if it's caused by foreign interference aimed at destabilizing European nations by manipulating the public to support extremist parties with a anti-european agenda, these foreign actors are only fanning discontent that's already present.
hermitcrab 3y ago
The UK keeps promising to clean this up. But there is a vast ecosystem of lawyers, accounts, wealth managers etc who make a very nice living off helping kleptocrats and criminal hide their money. No doubt some of them pay lobbyists and/or make sizeable donation to polticial parties. So don't expect this gravy train to slow down any time soon.
- cyanydeez 3y ago
  it's fascinating knowing there's a cabal of lobbiests, accounts and wealth managers specially crafting loopholes for the minor richs
  - hermitcrab 3y ago
    Who said anything about 'minor'?

switch007 3y ago

Oh lots of changes to make it harder for small companies to register and file. I’m shocked… Getting rid of web filing in favour of software filing seems retrograde

skywal_l 3y ago

Does this apply to the City of London[0]? My understanding is that it has its own rules with regards to transparency for example. [1] [0] https://en.wikipedia.org/wiki/City_of_London https://en.wikipedia.org/wiki/City_of_London [1] https://platform-production.s3.amazonaws.com/therules-134-City_of_London_Campaign_FAQ.pdf https://platform-production.s3.amazonaws.com/therules-134-Ci... EDIT: Added a reference.

alexchamberlain 3y ago
Not sure exactly what you're referring to. There are additional rules if you're listed on the London Stock Exchange (both legal as a PLC and contractual with the exchange itself, if I understand it correctly), but that's not the City per se?
- flipbrad 3y ago
  AFAIK these are changes that apply to any company in the UK (whether or not theyre LSE-listed). This also wouldn't depend on whether they operate within the City of London.
walthamstow 3y ago
The City isn't a seperate legal jurisdiction in this way. The Corporation of London has special rules regarding itself only, as a local authority. The City, as a place, hosts companies who offer services that can move your funds to seperate jurisdictions, but these companies are subject, AFAIK, to all England&Wales law. Lastly, the tax dodged in the City was often not going to the UK Exchequer anyway, usually it was diverted from the treasury of a developing country. We slap a fee on that work and call it an economy.

asystole 3y ago

You hope? Why? How does it affect you?

hermitcrab 3y ago

Money laundering will soon be all the UK has left.

foofie 3y ago
The Netherlands is already capitalizing quite handsomely from the infamous Brexit. This would be funny if not for the impact this has on both nation's working class, the British for losing jobs and economic activity and the Netherlands for falling victims for the housing crisis.
- contravariant 3y ago
  Could you expand a bit what you mean by Brexit causing the housing crisis in the Netherlands?
  - walthamstow 3y ago
    I'm not the parent but many multinationals, EU agencies and NGOs have moved some or all staff from London to Amsterdam. An example is the European Medicines Agency.
  - foofie 3y ago
    > (...) Brexit causing the housing crisis in the Netherlands? I didn't claimed Brexit caused the dutch housing crisis. What I referred to was how more institutions and corporations have moved and are moving to the Netherlands, and with them they bring in high-paying jobs filled by an ever increasing expat community. Housing is scarce already and the sudden inflow of people with a higher purchasing power are progressively pricing locals out of the housing market, worsening a problem that's already quite bad. The latest dutch elections already reflect the growing discontent of average dutch people towards the immigration wave. Even if it's caused by foreign interference aimed at destabilizing European nations by manipulating the public to support extremist parties with a anti-european agenda, these foreign actors are only fanning discontent that's already present.

hermitcrab 3y ago

The UK keeps promising to clean this up. But there is a vast ecosystem of lawyers, accounts, wealth managers etc who make a very nice living off helping kleptocrats and criminal hide their money. No doubt some of them pay lobbyists and/or make sizeable donation to polticial parties. So don't expect this gravy train to slow down any time soon.

cyanydeez 3y ago
it's fascinating knowing there's a cabal of lobbiests, accounts and wealth managers specially crafting loopholes for the minor richs
- hermitcrab 3y ago
  Who said anything about 'minor'?