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Corporate tax update, final quarter 2016
Welcome to the latest edition of our corporate tax update, written by members of RPC’s tax team and published quarterly. In this final 2016 edition we highlight some of the key tax developments of interest to UK corporates from the final quarter of 2016.
Read moreGoing for Gold: A New Code for Sports Governance
Any sports body or organisation that wishes to rely on public funding must now comply with a new Code for Sports Governance, and it requires preparation now.
Read moreVAT update, January 2017
In this month’s update we report on new penalty legislation which the government intends to introduce for businesses participating in VAT fraud, HMRC’s consultation on VAT grouping and proposed new legislation to tackle the exploitation of VAT relief on adapted cars for wheelchair users.
Read moreTribunal allows taxpayer's appeal against discovery assessment
In Paul Munford v HMRC [2017] UKFTT 019 (TC), the First-tier Tribunal (FTT) considered the validity of a discovery assessment which had been issued by HMRC pursuant to section 29, Taxes Management Act 1970 (TMA) and allowed the taxpayer's appeal on the basis that HMRC had not discharged the burden of proving, for the purposes of section 36(1A), TMA, that the taxpayer had deliberately brought about a loss of capital gains tax.
Read moreInvestment funds, January 2017
Senior Manager’s Regime and its applicability to all regulated firms - The FCA is consulting on extending the Senior Managers and Certification Regime (SM&CR) to all regulated financial services firms in 2018, which will include many managers of investment funds.
Read moreTerraLex Cross-Border Copyright Guide 2017
We are delighted to present the TerraLex Cross-Border Guide to Copyright 2017.
Read moreNvidia sweats over Hardware Labs' "threats"
Nvidia’s attempt to bring a groundless threats action against Hardware Labs in the English High Court has failed.
Read moreGeneral Liability update, January 2017
In this issue we consider how Insurers might secure the evidence needed to defend long-tail disease claims, with the collateral benefit of reducing the risk of more immediate prosecution by the Health and Safety Executive for non-compliance with Health and Safety Regulations.
Read moreTribunal refuses to allow HMRC to rely upon section 114 TMA to cure its mistakes
In Chartridge Developments Limited v Revenue and Customs Commissioners [2016] UKFTT 766, the First-tier Tribunal (FTT) allowed (in part) the taxpayer's appeal against penalties imposed for late filing of annual tax on enveloped dwellings (ATED) returns under section 161(3), Finance Act 2013, and refused to allow HMRC to rely upon section 114 Taxes Management Act 1970 (TMA).
Read moreInsurance Companies and the Modern Slavery Act
As the new financial year is soon to arrive, companies will soon have to file their Slavery and Human Trafficking (SHT) statements. RPC has previously written about their general applicability and now will examine its impact on insurance companies.
Read moreTribunal finds for the taxpayer in "income" versus "capital" payment dispute
In James Allan Thornton v HMRC [2016] UKFTT 767 (TC), the First-tier Tribunal (FTT) considered the distinction between income and capital payments in the context of a settlement relating to rental property and held that a settlement payment made to a landlord as compensation for dilapidations to his property was a capital receipt.
Read moreSugar tax: a sweet deal?
The government is trying to curb the nation's sweet tooth this new year, with plans to introduce a new levy on sugary drinks.
Read moreAnnual Insurance Review 2017
Last year we identified the standout insurance law event of 2015 as the impending introduction of the Insurance Act 2015. Little did we anticipate the tumultuous events of 2016 that would shake up the global economic markets as a whole.
Read moreGarden Villages - are they necessary?
A recent Government announcement has proposed 14 sites across England to be the first garden villages, with 3 further sites to be new garden towns. But with a country full of deserted and derelict buildings, are garden villages and towns the only way forward?
Read morePost-Christmas blues
On Wednesday 3 January Next issued a profit warning which triggered a dive in the retailer's share price and revived concerns that 2017 could be a challenging year for some high street retailers.
Read moreDraft Finance Bill 2017 - partial closure notices
Tax analysis: we welcome the new rules on partial closures of tax enquiries and point out that the inflexibility in the current enquiry framework can lead to complex or multi-issue tax disputes taking an excessive amount of time to be resolved.
Read moreDraft Finance Bill 2017—off-payroll working in the public sector
Tax analysis: Adam Craggs, partner at RPC, and Michelle Sloane, senior associate at the firm, explain the reformed off-payroll rules for public sector engagements under the Finance Bill 2017.
Read morePolicing the internet - an age old problem
Porn, violence, gambling – how we deal with these taboos of the digital age is a big question, and one which the UK government has started to tackle.
Read morePeer review: FCA signals tighter regulation for P2P lending platforms
The FCA has indicated its intention to apply more stringent regulation to the UK's booming peer-to-peer lending sector, amid concerns that increasingly sophisticated lending platforms are outgrowing the current regulatory regime.
Read moreUpper Tribunal confirms that right to make VAT repayment claims belongs to representative member of VAT Group
In HMRC v MG Rover Group Limited; Standard Chartered PLC v HMRC [2016] UKUT 434, the UT has confirmed that section 43, Value Added Tax Act 1994 (VATA) required repayment rights under section 80, VATA, to be held only by the representative member both before and after they have left the group or the group has been dissolved.
Read moreGMAC (UK) Plc – Court of Appeal finds VAT bad debt relief provisions incompatible with EU law
In HMRC v GMAC (UK) Plc [2016] EWCA Civ 1015, the Court of Appeal has held that the UK's legislation, which barred bad debt relief claims unless the debtor was insolvent and the property in the goods had passed, was incompatible with EU law.
Read moreCourt of Appeal applies Wellesley to a claim against lawyers
On 21 December 2016 Lord Justice Jackson and Lord Justice Patten overturned a loss of chance judgment for £2m against lawyers on the grounds that the damage was too remote.
Read moreAnother meander through Three Rivers (No 5): the scope of legal advice privilege
The High Court rejected RBS' claim that interview notes taken by the bank and its external lawyers in the course of two internal investigations were privileged.
Read moreFilling gaps: Implied terms in contracts
The Court of Appeal has held that where a contract would, on its face, be unenforceable because the parties failed to agree an essential term, the missing term cannot be implied.
Read moreTrainees Take on 2016: A Year in Review
Placing a £10 bet on Donald Trump, Brexit and Leicester City winning the Premier League this year would have made you a millionaire… 30 times over.
Read moreFootball agent scores a victory in loss of a chance case
The Court of Appeal upheld the appeal of a licensed football agent who alleged Sports and Entertainment Media Group had induced a professional footballer to breach an agency contract with him, which had deprived him of the fee he would have earned.
Read moreBiffin - Court grants injunction preventing HMRC from enforcement action
In Biffin Limited and Others v HMRC [2016] EWHC 2926 (Admin), the High Court has granted the taxpayers an injunction prohibiting HMRC from commencing enforcement action in respect of alleged tax liabilities.
Read more"It's privileged" – is not enough! High Court orders a full list of each document over which a claim to privilege is asserted
The High Court held that a defendant's claim to privilege in respect of communications between employees and in-house counsel went too far. It ordered the defendant to provide a full list of each document over which the defendant asserted a claim to privilege, together with an explanation of the nature of the privileged claimed.
Read moreThe Twelve "Laws" of Christmas
With the festive season upon us, we take a look at twelve "laws" and determine their legality with a festive twist.
Read moreHealth and safety law update, December 2016
Welcome to the December issue of our Health & Safety law update.
Read moreECON scrutinises EBA's approach to RTS under PSD2
The EBA Chair has recently appeared before ECON to explain the EBA's approach to the development of RTS on strong customer authentication and secure communications under PSD2, and to answer concerns raised by the committee and others about these RTS.
Read more3 Rivers (No5) floods back to potentially drown legal advice privilege?
A crisp and narrow focus, of particular relevance to US and financial services companies, has just been placed on the terms client, legal advice and lawyers' working papers by two recent first instance cases that have applied the decisions made in 3 Rivers (No5)
Read moreWho is going to pay? FCA launches consultation on the funding of the FSCS
The FCA's consultation follows on from FAMR and focuses on how the FSCS should be funded going forward.
Read moreLife Sciences, December 2016
Welcome to our final Life Sciences update of 2016. In this edition we cover Wilkes v DePuy (the recent judgment that deals with medical products liability and is a boost for defendants), the Brexit debate continued, fitness trackers making people unfit and insurers and manufacturers preparing for the outbreak of rare diseases.
Read moreSupreme Court considers the application of SAAMCo to claims against lawyers
The test for remoteness of damage in claims against lawyers is going to be examined today and tomorrow by the Supreme Court. The justices hearing the appeal include the president Lord Neuberger together with Lord Mance, Lord Clarke, Lord Sumption and Lord Hodge.
Read moreCourt of Appeal confirms criminal offences cover the sale of "grey" goods
The Court of Appeal (Criminal Division) has recently confirmed that the sale of "grey" goods can be a criminal offence under the Trade Marks Act 1994 (TMA).
Read moreConfidential information "oiled" progress of new product development
When is information confidential? A recent case gave cause for the English High Court to clarify.
Read moreContract formation - Electronic signatures: New Law Society practice note
The Law Society has issued a new practice note on the “Execution of a document using an electronic signature”.
Read moreASA/CAP - HFSS food and drink: New online ban in children's media
In May 2016, the Committee of Advertising Practice (CAP) published a consultation into food and soft drink advertising to children.
Read moreConsumer New - CMA campaign on unfair contract terms
Following an investigation into business attitudes towards unfair terms in consumer contracts, the CMA has published new practical guidance to assist compliance.
Read moreConsumer New - Pricing Practices Guide
The Chartered Trading Standards Institute (CTSI) has published new guidance which replaces the former version, being the Department for Business Innovation and Skills’ (BIS) Pricing Practices Guide 2010.
Read moreNuisance calls
From Spring 2017, directors can each be fined up to £500,000 by the Information Commissioner's Office (ICO) if their firms are found to be in breach of the Privacy and Electronic Communications Regulations (the Regulations) by making nuisance calls.
Read moreInvestigatory Powers Act: Royal assent
On 29 November 2016, the Queen gave royal assent to the Investigatory Powers Bill, marking the end of the controversial bill’s passage into law.
Read moreTalkTalk: how quickly must you notify a personal data breach?
How quickly must you notify the ICO following notification of a personal data breach? And what lessons can be learned from the tight timescales currently imposed on communications providers as all businesses head towards 72 hour data breach notification under the GDPR?
Read moreTalkTalk: ICO issues record fine
The ICO has issued a record £400,000 fine to TalkTalk for failing to keep personal data secure in breach of the Data Protection Act 1998 (DPA).
Read moreRemedies for breach of contract - Scottish Power UK Plc v BP Exploration Operating Company Ltd Company Ltd [2016] EWCA 1043
Can a party be limited to an exclusive contractual remedy, without the right to claim damages for breach of contract?
Read moreNew ICO Code on Privacy Notices Transparency and Control
The Information Commissioner’s Office (ICO) has recently issued a new Code of Practice on Privacy Notices, Transparency and Control (the Code).
Read moreWarranties - Idemitsu Kosan Co Ltd v Sumitomo Co Corp [2016] EWHC 1909 (Comm)
Can warranties constitute statements of fact which are actionable as misrepresentations?
Read moreContractual interpretation - Process Components Ltd v Kason Kek Gardner Ltd 2016 EWHC 2198 Ch
Should a contract be construed in light of a common assumption between the parties?
Read moreContractual discretion - Brogden and another v Investec Bank plc [2016] EWCA Civ 1031
What are the limits on a discretion conferred by a contract?
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