UK Government launches sovereign immunity consultation 

The principle of sovereign immunity - that one sovereign state should not seek to impose its law on another sovereign state - is an established part of international law says Jonathan Legg, partner at international law firm Mishcon de Reya in a briefing note on 28 July.  Historically, sovereign immunity has meant that the UK has not sought to tax income and gains arising from UK real estate investments held by other countries. Sovereign wealth funds are major global players (with one study stating that assets under management by such funds were more than US$15 trillion) and the UK has...