Prosecutions for commercial fraud are expected to rise this year due to a stronger commitment to bring proceedings under the Bribery Act 2010. It will be interesting to see how the offence of failing to prevent bribery is handled by both the prosecuting authorities such as the Serious Fraud Office and defendants alike.
The Criminal Finances Act currently forging its passage through Parliament, as a Bill, should bring some tantalising developments.
The changes made to entrepreneur’s relief and to capital gains tax by the Budget in March have made growing businesses and start ups more attractive as investment vehicles many commercial solicitors in London are reporting. Capital gains tax was cut from 28% to 20% for top rate tax payers and from 18% to 10% for basic rate tax payers.
Long-term shareholders in unlisted companies are to receive a boon as entrepreneur’s relief is set to be extended.