Technical Hub

From the Professional Accountancy team A new service, the EU Sanctions Helpdesk was established in  March 2025. The service is funded by the European Union and will support European SMEs in complying with sanctions. In August 2025 the helpdesk published a new guide on ownership and control in EU sanctions compliance .It details the rules about a Listed Person owning or controlling an entity, what ‘ownership’ of an entity and ‘control’ of an entity means and there is also some discussion of firewalls about which see more on our Technical hub sanctions pages .   This information is provided as resources and information only and nothing in these pages purports to provide professional advice or definitive legal interpretation(s) or opinion(s) on the applicable legislation or legal or other matters referred to in the pages. If the reader is in doubt on any matter in this complex area further legal or other advice must be obtained. While every reasonable care has been taken by the Institute in the preparation of these pages, we do not guarantee the accuracy or veracity of any resource, guidance, information or opinion, or the appropriateness, suitability or applicability of any practice or procedure contained therein. The Institute is not responsible for any errors or omissions or for the results obtained from the use of the resources or information contained in these pages.  

On 18 July 2025 the EU adopted its 18th package of sanctions against Russia. The European Council writes that the package focusses on five building blocks: cutting Russia's energy revenues, hitting Russia's banking sector, further weakening its military‑industrial complex, strengthening anti‑circumvention measures, and holding Russia accountable for its crimes against Ukrainian children and cultural heritage. The 18th package includes energy measures, financial measures ,trade measures Anti‑circumvention measures ,targeting Russia's military capabilities and supply chains ,Russia's accountability, measures to protect member states from arbitration and new measures against Belarus. You can read more details on the 18th Package on the European Council webpage (see link above which has links to the various legal acts to bring the 18th package into force. This information is provided as resources and information only and nothing in these pages purports to provide professional advice or definitive legal interpretation(s) or opinion(s) on the applicable legislation or legal or other matters referred to in the pages. If the reader is in doubt on any matter in this complex area further legal or other advice must be obtained. While every reasonable care has been taken by the Institute in the preparation of these pages, we do not guarantee the accuracy or veracity of any resource, guidance, information or opinion, or the appropriateness, suitability or applicability of any practice or procedure contained therein. The Institute is not responsible for any errors or omissions or for the results obtained from the use of the resources or information contained in these pages.      

UK Parliament has published a draft of the Companies (Directors’ Report) (Payment Reporting) Regulations 2025 (“Regulations”). It has also published a draft explanatory memorandum. The purpose of the draft Regulations is stated to be to make changes to reporting requirements to require large companies to report information about their payment practices and performance within directors’ reports. For further information on company size thresholds please click to access the Institute webpage on UK company thresholds. The draft Regulations when enacted will require the directors' report to include items such as the payment period specified in a company’s standard payment terms in its qualifying contracts between it and its suppliers. Where there are variations to standard payment terms, details of the variations and notifications/consultations with suppliers before making the variation should also be reported. Details should also be included about payments made including percentages and total sums not made within the company’s payment period. See the draft Regulations for full details. “Qualifying contracts” are defined in the draft Regulations, and the definition relates to exclusion of contracts for financial services and other terms dealing with the choice of law of the contract. The draft Regulations are stated to come into force on 1 January 2026 and will have effect in respect of a company’s financial year beginning on or after 1st January 2026. This information is provided as resources and information only and nothing in these pages purports to provide professional advice or definitive legal interpretation(s) or opinion(s) on the applicable legislation or legal or other matters referred to in the pages. If the reader is in doubt on any matter in this complex area further legal or other advice must be obtained. While every reasonable care has been taken by the Institute in the preparation of these pages, we do not guarantee the accuracy or veracity of any resource, guidance, information or opinion, or the appropriateness, suitability or applicability of any practice or procedure contained therein. The Institute is not responsible for any errors or omissions or for the results obtained from the use of the resources or information contained in these pages.