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Life sciences and the Brexit trade agreement of Christmas Eve 2020

Published on 26 March 2021. By Peter Rudd-Clarke, Legal Director

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As the nation prepared for muted Christmas celebrations at the end of last year, those in industry were able to feast on the Trade and Cooperation Agreement settled between the EU and UK on 24 December 2020 (the TCA). The TCA concluded months of uncertainty for the life sciences sector. Companies had been waiting to see how far the UK government would go in agreeing to follow EU standards concerning medicines and medical devices. By the time the EU and UK finally agreed the TCA, questions over life sciences regulations had rocketed up the agenda against a backdrop of vaccines and treatments developed to combat Covid-19.

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Publication

V@ update - March 2021

Published on 25 March 2021. By Adam Craggs, Partner and Rebekka Sandwell, Senior Associate

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Welcome to the March 2021 edition of RPC's V@, an update which provides analysis and news from the VAT world relevant to your business.

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Spotlight on private wealth - March 2021

Published on 25 March 2021. By Adam Craggs, Partner and Geraldine Elliott, Global Head of Commercial Disputes and Davina Given, Partner and Emma West, Senior Associate

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Our quarterly update is designed to keep you up to speed with developments in the private wealth world.

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Publication

Asia: How staying-at-home has driven retail F&D collaborations

Published on 25 March 2021. By Jeremy Drew, Head of TMT and Karen Hendy, Head of Corporate

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Recent social unrest and the COVID-19 pandemic have accelerated the emergence of a new “stay-at-home economy” for groceries and fresh produce in Hong Kong.

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Blog

The long arm of HMRC

Published on 24 March 2021. By Adam Craggs, Partner and Alice Kemp, Senior Associate (Employed Barrister)

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Adam Craggs and Alice Kemp outline the powers HMRC has at its disposal when conducting a criminal rather than civil investigation.

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Blog

Stamp Duty Holiday. Not a "holiday" for conveyancers.

Published on 24 March 2021. By Layla Todd, Associate

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In an attempt to prevent the housing market from stalling during the COVID 19 pandemic, a stamp duty holiday was announced for all residential purchases under £500,000 between 8 July 2020 and 31 March 2021.

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Blog

Need for reasonable enquiries upon receipt of potentially confidential information

Published on 24 March 2021. By Carolin Mester , Associate and Chris Ross, Partner

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The Court of Appeal recently held that a recipient of information will be bound by a duty of confidentiality if it was reasonable for them to have made enquiries as to the confidential nature of the information and they failed to do so (Travel Counsellors Ltd v Trailfinders Ltd [2021] EWCA Civ 38).

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Publication

Employment Law Changes in 2020 and What to Expect in 2021

Published on 24 March 2021. By Andrea Randall, Partner

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2020 has brought about a significant number of changes to working life in Hong Kong. In light of the protests and COVID-19, there has been a widespread adoption of working from home ("WFH"). In addition, there has been new legislation enhancing the statutory rights of employees. In this article, we provide a review of these changes in 2020 and set out what we are to expect in 2021.

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Blog

Quentin Skinner – shares sold by trusts not eligible for entrepreneurs' relief

Published on 24 March 2021. By Rebekka Sandwell, Senior Associate

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In HMRC v The Quentin Skinner 2005 Settlement L and others [2021] UKUT 29 (TCC), the Upper Tribunal (UT) has held that, for the purposes of entrepreneurs' relief (ER) (now business asset disposal relief), section 169J(4), Taxation of Chargeable Gains Act 1992 (TCGA) requires a beneficiary to have been a qualifying beneficiary throughout a period of one year ending no earlier than three years before the date of disposal of settlement business assets by the trustees.

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Podcast

A look at the Zong Massacre

23 March 2021

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Welcome to Insurance Covered! The podcast that looks at the inner workings of the insurance industry with the help of expert guests. Our guest this week is Trevor Burnard and we will be discussing the most notorious insurance coverage case in history, Gregson v Gilbert also known as 'The Zong Massacre'. Trevor is the Wilberforce Professor of Slavery and Emancipation at the University of Hull and the Director of the Wilberforce Institute.

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Publication

Regulatory update - March 2021

Published on 22 March 2021. By Gavin Reese, Partner

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Welcome to the March edition of the Regulatory update, which pulls together recent developments from across the UK’s regulators – to help you navigate the regulatory maze.

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Podcast

The future of judicial reviews… and what it means for your business

22 March 2021

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Described by a previous guest on Taxing Matters as “the last bastion of the citizen against the Government", the importance of judicial reviews cannot be overstated.

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Blog

Insurance M&A and financing Q1 2021

Published on 22 March 2021. By James Mee, Partner

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This blog considers insurance M&A and financing trends over the past 12 months.

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FCA publishes finalised guidance for firms on the fair treatment of vulnerable customers

Published on 22 March 2021. By Claudia Schlossberger, Paralegal

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In February 2021, the FCA published guidance on the fair treatment of vulnerable customers with the aim of improving their customer experience.

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BEIS issues White Paper: D&O perspective

Published on 19 March 2021. By Simon Goldring, Partner and Cristina Faro, Associate

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The Department for Business Energy and Industrial Strategy (BEIS) has today released its White Paper, setting out its proposals for audit reforms and corporate governance, entitled "Restoring trust in audit and corporate governance".

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Video

Financial CrimeCast: Sue Scott

Published on 19 March 2021. By Sam Tate, Partner and Emily Pica, Associate (Australian Qualified)

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Welcome to Financial CrimeCast. In this series, the Centre for Legal Leadership, supported by RPC, talks to leaders in the field of financial crime, compliance and ethics. Guests discuss their career journey, what they have learnt along the way and the financial crime issues they see on the horizon.

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Blog

RPC Bites #27 - Government 'anti-obesity deadlines' are near on impossible warn retailers and further red tape angst is on the cards for composite food products

Published on 18 March 2021. By Ciara Cullen, Partner and Ben Mark, Partner

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Welcome to RPC Bites. Our aim in the next 2 minutes is to provide you with a flavour of some key legal, regulatory and commercial developments in the Food & Drink sector over the last fortnight… with the occasional bit of industry gossip thrown in for good measure. Enjoy!!

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Publication

Coming to America: United States market entry tips

Published on 18 March 2021. By Jeremy Drew, Head of TMT and Karen Hendy, Head of Corporate

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Most global retailers have contemplated entering the United States market – possibly just because of the sheer scale of the market. American retailers rang up almost $5.5 trillion (£4.1 trillion) in sales in 2019. Plus, for luxury sellers, the US market makes up a huge portion of overall global sales. Additionally, the impact that American consumers have on worldwide traditional and social media is tremendous, which amplifies the value of their purchases of your products.

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Blog

Oh (no) Polly – clothing brand infringed the design rights of a direct competitor the High Court finds

Published on 17 March 2021. By Sarah Mountain, Senior Associate and Ellie Ward, Associate

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The High Court has held that G4K Fashion Limited, trading as 'Oh Polly', has infringed UK unregistered design rights (UKUDR) and community unregistered design rights (CUDR) owned by Original Beauty Technology Company Limited (Original Beauty) by copying several of its 'bodycon' and 'bandage' garments. Original Beauty was, however, unable to establish passing off.

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Publication

COVID-19 – Key vaccine considerations for employers

Published on 17 March 2021. By Andrea Randall, Partner

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There have been a number of articles which have considered Hong Kong employers' rights to direct their workforce to be tested and vaccinated against COVID-19. The general consensus amongst legal practitioners in Hong Kong is that there is no statutory right to direct an employee to undergo testing and vaccination.

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Blog

Atholl House Productions: BBC Presenter wins IR35 case

Published on 17 March 2021. By Constantine Christofi, Senior Associate

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In HMRC v Atholl House Productions Ltd [2021] UKUT 0037 (TCC), the Upper Tribunal (UT) held that IR35 did not apply to a presenter who provided services to the BBC through a personal service company.

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Blog

Cyber_Bytes - Issue 30

Published on 16 March 2021. By Richard Breavington, Partner and Daniel Guilfoyle, Partner and Ian Dinning, Senior Associate and Rachel Ford, Senior Associate and Christopher Ashton, Senior Associate and Bethan Griffiths, Senior Associate and Ridvan Canbilen, Associate

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Welcome to Cyber_Bytes, our bi-weekly round up of key developments in cyber, tech and evolving risks.

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Blog

FCA guidance on cancellations and refunds

Published on 15 March 2021. By Whitney Simpson, Senior Associate

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COVID-19 disruption has caused an unprecedented number of cancellations of trips, holidays, and other events. On 2 April 2021, the temporary guidance which the FCA published in October 2020 setting out its expectations for insurance and card providers, is due to come to an end.

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Blog

Sunak's new Super-Deduction – now is the time for retail investment?

Published on 15 March 2021. By Ben Roberts, Partner

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A significant measure with the potential to benefit the retail industry was announced by the Chancellor last week as part of the Spring Budget. This will take the form of a new 'super-deduction', available from April for a limited 2-year period.

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Blog

Sports Ticker (12 Mar 2021) - Rugby World Cup, Fenway Sports Group and Dettol

Published on 12 March 2021. By Jeremy Drew, Head of TMT and Joshua Charalambous, Senior Associate and Stuart Harris, Associate and Samuel Coppard, Associate

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Welcome to the latest edition of the RPC Sports Ticker - providing fortnightly bite-size updates from around the sports industry.

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Blog

SPACs Invaders – Implications for D&O insurers

Published on 12 March 2021. By Simon Goldring, Partner

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The EU's former Financial Services Commissioner, Lord Hill, has delivered the anticipated UK Listing Review which contains recommendations for reform of the UK's current listing regime. This included changes to listing rules with a focus, amongst other things, on special purpose acquisition vehicles (SPACs). SPACs are more flexible than formal IPOs and are used to raise capital in order to merge with/acquire another company. In the US, commentators predict an increase in securities claims involving SPACs, so this development is potentially relevant to London market D&O insurers.

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Blog

Spring Budget 2021 – spend now, tax later?

Published on 11 March 2021. By Ben Roberts, Partner

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Publication

Time for action on abusive card charges

Published on 11 March 2021. By Jeremy Drew, Head of TMT and Karen Hendy, Head of Corporate

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Eyes will be on the British government in 2021 to start paving a new and substantially different pathway for the UK which holds enough merit to justify the upheaval, bitterness and loss caused by its advocacy and delivery of Brexit. One relatively uncontroversial area is the reform of regulation governing retail payments in the UK.

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Blog

Ditton – HMRC cannot issue daily late filing penalties retrospectively

Published on 10 March 2021. By Alexis Armitage, Associate

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In Ditton v HMRC [2021] UKFTT 489 (TC), the First-tier Tribunal (the FTT) held that daily late filing penalties, where notice was given by HMRC to the taxpayer after the period in respect of which the penalties were issued, were void; confirming that late filing penalties cannot be issued to taxpayers retrospectively.

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Blog

The RICS key to unlock the market?

Published on 09 March 2021. By Alexandra Anderson, Partner

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In December 2019, the RICS launched a new form, the EWS1, to assist with the process of valuing properties within all residential buildings over six storeys (18 metres). In the wake of the Grenfell Tower tragedy, lenders were needing to understand whether materials used for cladding/insulation were safe and would require remediation at a cost that would have impact on the value of the property. The EWS1 form was intended to provide a quick route to ascertain whether works were required that might have an impact on value.

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Podcast

Taxing Matters: International Women's Day Special

08 March 2021

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March 8th is International Women's Day, and to mark the occasion this special episode of the Taxing Matters podcast features five empowering women who have all strived to encourage diversity and inclusion in the workplace.

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Publication

HMRC Crackdown on Covid-19 Fraud

Published on 05 March 2021. By Adam Craggs, Partner and Michelle Sloane, Partner and Alice Kemp, Senior Associate (Employed Barrister)

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In the March 2021 Budget, Chancellor Rishi Sunak announced the creation of a new major fraud taskforce, the Taxpayer Protection Taskforce, established as part of a wide-reaching crackdown on criminals exploiting UK government support schemes. The new taskforce represents one of the all-time largest responses to a fraud risk by HMRC.

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Blog

Helpful guidance on the role of statements of case and Lists of Issues for Disclosure in applications to vary an order for Extended Disclosure under the Disclosure Pilot Scheme

Published on 05 March 2021. By Parham Kouchikali, Partner and Sinead Westaway, Associate

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The High Court in HMRC v IGE USA Investments Ltd and Ors [2020] EWHC 1716 (Ch) confirms jurisdiction to order specific disclosure under the Disclosure Pilot Scheme is not confined to issues identifiable from statements of case and where there is no agreed or approved List of Issues for Disclosure.

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Blog

RPC Insurtech in brief – March 2021

Published on 05 March 2021. By Neil Brown, Partner and Lauren Murphy, Associate

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Welcome to the latest edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.

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RPC Bites #26 - A welcome ASA ruling for HFSS products, the Scotch Whisky industry is calling and the decision to regulate the CBD industry in the UK.

Published on 04 March 2021. By Ciara Cullen, Partner and Ben Mark, Partner

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Welcome to RPC Bites. Our aim in the next 2 minutes is to provide you with a flavour of some key legal, regulatory and commercial developments in the Food & Drink sector over the last fortnight… with the occasional bit of industry gossip thrown in for good measure. Enjoy!!

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Blog

Does an expert owe a fiduciary duty to its client?

Published on 04 March 2021. By Simon Hart, Partner and Alexandra Shearer, Associate (Australian Qualified)

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For the first time, the Court of Appeal has considered the duties of an expert concurrently engaged on two potentially conflicting disputes. While this case involved an unusual set of circumstances, it provides an interesting review of the duties owed by expert witnesses to their clients and the Court, and highlights important considerations for those engaging expert witnesses and drafting engagement letters Secretariat Consulting Pte Ltd, Secretariat International UK Ltd, Secretariat Advisors LLC v A Company.(1)

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Publication

Tax Bites - March 2021

Published on 04 March 2021. By Adam Craggs, Partner and Harry Smith, Senior Associate

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Welcome to the latest edition of RPC's Tax Bites - providing monthly bite-sized updates from the tax world.

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Publication

New year, new strategy – what to expect in a post-pandemic retail landscape

Published on 04 March 2021. By Karen Hendy, Partner and Jeremy Drew, Partner

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Most importantly, retailers and brands must be ready to change and evolve to meet the rapidly shifting demands of consumers.

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Podcast

What makes a good underwriter

04 March 2021

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Welcome to Insurance Covered! The podcast that looks at the inner workings of the insurance industry with the help of expert guests. Our guest this week is Ben Bolton, Managing Director of Gracechurch Consulting and we will be discussing what makes a great underwriter.

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Blog

UK Listing Review wants companies to stay at home

Published on 04 March 2021. By Connor Cahalane, Partner and Karen Hendy, Head of Corporate

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Recommendations will make it easier to list and fundraise on the London Stock Exchange

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Blog

SSE Generation – Taxpayer's capital allowances victory marred by procedural issue

Published on 03 March 2021. By Harry Smith, Senior Associate

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In HMRC v SSE Generation Ltd [2021] EWCA Civ 105, the Court of Appeal (CA) upheld the Upper Tribunal's (UT) decision that expenditure on parts of a hydroelectric power scheme was eligible for capital allowances, save for one element in respect of which the taxpayer had failed to seek permission to appeal part of the First-tier Tribunal's (FTT) decision.

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A new cause of action can only be introduced by amendment if it arises out of substantially the same facts that remain in issue at the time of the amendment

Published on 02 March 2021. By Geraldine Elliott, Global Head of Commercial Disputes

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Pleadings that have previously been struck out cannot be used to introduce a new, limitation-barred claim that arises out of substantially the same set of facts as the struck out claim according to the Court of Appeal in Libyan Investment Authority v King [2020] EWCA Civ 1690.

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Publication

False statements in a bill of lading and the indemnities to a master

Published on 02 March 2021. By Prakash Nair, Director

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This Article discusses the recent decision of the English Court of Appeal in the case of “TAI PRIZE” [2021] EWCA Civ 87 on the industry practice of Masters signing bills of lading containing statements about the condition of the cargo, the threshold of the Master's inspection, whether they amount to representations and the consequences of the statements turning out to be false.

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Blog

800 DB Transfer complaints to the FOS: A 44% increase in one year

Published on 01 March 2021. By Emma Murphy-O'Connor , Associate

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The FOS have seen the number of complaints relating to defined benefit transfer advice increase by 44% since 2019. However, the proportion of decisions being upheld appears to have fallen.

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Blog

Sanctions – A New World?

Published on 26 February 2021. By Robert Waterson, Partner and Harry Smith, Senior Associate

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The new UK sanctions regime (SAMLA) replaces EU sanctions in the UK, and sits alongside UN sanctions and US sanctions as a factor for businesses to consider in planning their anti-corruption and compliance matters. In particular it can impose trade sanctions, travel sanctions and financial sanctions, with tough financial penalties for non-compliance.

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Blog

Sports Ticker (25 Feb 2021) - England Cricket partnership, New Balance and Fantasy Premier League

Published on 25 February 2021. By Jeremy Drew, Head of TMT and Joshua Charalambous, Senior Associate and Stuart Harris, Associate and Samuel Coppard, Associate

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Welcome to the latest edition of the RPC Sports Ticker - providing fortnightly bite-size updates from around the sports industry.

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Blog

Tech-driven arbitration? What else can we look forward to in arbitration in the UK?

Published on 25 February 2021. By Tatiana Minaeva, Partner and Kirtan Prasad, Senior Associate

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A look at the past year in arbitration in the UK and what the future holds.

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What if the CEO asks me about…. whether employees need to be vaccinated before coming back to our premises

Published on 25 February 2021. By Patrick Brodie, Partner and Jon Bartley, Partner

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With Monday's announcement from Boris Johnson, and the vaccination programme gathering speed, you will, hopefully, soon be re-opening your stores and offices, bringing more of your colleagues back to work.

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Publication

V@ update - February 2021

Published on 25 February 2021. By Adam Craggs, Partner and Rebekka Sandwell, Senior Associate

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Welcome to the February 2021 edition of RPC's V@, an update which provides analysis and news from the VAT world relevant to your business.

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