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BEIS issues White Paper: D&O perspective

Published on 19 March 2021.

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".

Financial CrimeCast: Sue Scott

Published on 19 March 2021. By Sam Tate, Partner

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.

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

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!!

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

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.

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, Partner and Ellie Ward, Associate

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.

COVID-19 – Key vaccine considerations for employers

Published on 17 March 2021. By Andrea Randall, Partner

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.

Atholl House Productions: BBC Presenter wins IR35 case

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

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.

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

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

FCA guidance on cancellations and refunds

Published on 15 March 2021. By Whitney Simpson, Of Counsel

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.

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

Published on 15 March 2021. By Ben Roberts, Partner

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.

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 Samuel Coppard, Associate

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

SPACs Invaders – Implications for D&O insurers

Published on 12 March 2021.

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.

Spring Budget 2021 – spend now, tax later?

Published on 11 March 2021. By Ben Roberts, Partner

Time for action on abusive card charges

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

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.

Ditton – HMRC cannot issue daily late filing penalties retrospectively

Published on 10 March 2021. By Alexis Armitage, Associate

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.

The RICS key to unlock the market?

Published on 09 March 2021. By Alexandra Anderson, Partner

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.

Taxing Matters: International Women's Day Special

08 March 2021

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.

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)

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.

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

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.

RPC Insurtech in brief – March 2021

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

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

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

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!!

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)

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)

Tax Bites - March 2021

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

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

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

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

What makes a good underwriter

04 March 2021

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.

UK Listing Review wants companies to stay at home

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

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

UK Listing Review wants companies to stay at home

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

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

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

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

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.

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

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.

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

Published on 02 March 2021.

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.

FOS and the Adams v Carey decision – where are we as the Court of Appeal hearing starts?

Published on 02 March 2021. By Rachael Healey, Partner

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

Published on 01 March 2021.

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.

Sanctions – A New World?

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

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.

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 Samuel Coppard, Associate

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

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

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

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

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.

V@ update - February 2021

Published on 25 February 2021. By Adam Craggs, Partner

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.

Insect protein, a market ready for metamorphosis

Published on 25 February 2021. By Charles Underwood, Trainee Solicitor

Mealworm arancini to start, followed by Mezcal worm tacos with guacamole and grasshopper bacon bits. For dessert, cricket flour brownies. All washed down with a delicious Mezcal margarita.

Misrepresentation, inducement, reservation of rights, affirmation of contract, rescission and damages in lieu of rescission

Published on 24 February 2021.

This Article discusses the recent decision of the English High Court in the case of SK Shipping Europe LLC v (3) Capital VLCC 3 Corp (5) Capital Maritime and Trading Corp [2020] EWHC 3448 (COMM) and the lessons learnt from that case and its application under English law and Singapore law.

A look at blockchain in insurance

24 February 2021

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 blockchain expert and entrepreneur, Walid Al Saqqaf, and we will be discussing blockchain and its uses in the insurance industry.

Bradford – Tribunal refuses HMRC's application for further and better particulars

Published on 24 February 2021.

In Darren Bradford v HMRC [2021] UKFTT 2 (TC), the First-tier Tribunal (FTT) refused HMRC's application for the Appellant to provide further and better particulars of his grounds of appeal and directed HMRC to provide its Statement of Case.

Customs and excise quarterly - February 2021

Published on 23 February 2021. By Adam Craggs, Partner

In this update we report on (1) HMRC's proposed new powers to combat illicit tobacco trading; (2) a policy paper setting out how the temporary and pre-lodgement models will operate to control goods coming from the EU to Great Britain; and (3) HMRC Guidance that can be used to check whether a business holds Authorised Economic Operator status.

Taxing Matters: Private prosecutions: an essential part of your business' toolkit

22 February 2021

We are experiencing a surge in economic crime – the National Crime Agency estimates fraud alone costs UK businesses around £140 billion a year. With the CPS and SFO barely able to scrape the tip of the iceberg, many businesses have turned to private prosecutions to recoup losses and protect their reputation.

Cyber_Bytes - Issue 29

Published on 22 February 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

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

Financial CrimeCast: Sarah Pritchard

Published on 19 February 2021. By Sam Tate, Partner

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.

Commercial Court cracks down on crypto-fraudsters (if it can find them)

Published on 18 February 2021. By Dan Wyatt, Partner and Christopher Whitehouse, Senior Associate and Becky Baker , Trainee Solicitor

In the first initial coin offering 'ICO' fraud case before the Commercial Court, Ion Science Limited & Duncan Johns v Persons Unknown & Ors, the court granted permission to serve disclosure orders on two cryptocurrency exchanges through which the claimants' stolen bitcoin had been traced, granted a world-wide freezing order against persons unknown, and gave ground-breaking guidance on the lex situs of crypto-assets.

Take 10 #11

18 February 2021

Welcome to RPC's media and communications law update. This issue reports on key media developments and the latest cases.

RPC Bites #25 - Dry January further boosts no/lo sales, PepsiCo and Beyond Meat join forces and Mondelez faces price fixing allegations

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

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!!

National Security and Investment Bill – when will it come into force?

Published on 17 February 2021. By Neil Brown, Partner

This blog considers when the National Security and Investment Bill might come into force, and the risk that transactions currently underway might be caught by the incoming rules.

Embiricos: HMRC cannot issue a partial closure notice without specifying the amount of tax due

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

In HMRC v Embiricos [2020] UKUT 370 (TCC), the Upper Tribunal (UT),in allowing HMRC's appeal, has held that HMRC cannot issue a partial closure notice without specifying how much tax is due.