Search

Blog

SPACs Invaders – Implications for D&O insurers

Published on 12 March 2021. By Simon Goldring, Partner

Green tint 1

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.

Read more
Blog

Spring Budget 2021 – spend now, tax later?

Published on 11 March 2021. By Ben Roberts, Partner

Purple tint 3

Read more
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

Purple tint

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.

Read more
Blog

Ditton – HMRC cannot issue daily late filing penalties retrospectively

Published on 10 March 2021. By Alexis Armitage, Associate

Untinted 2

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.

Read more
Blog

The RICS key to unlock the market?

Published on 09 March 2021. By Alexandra Anderson, Partner

Green tint 1

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.

Read more
Podcast

Taxing Matters: International Women's Day Special

08 March 2021

Tax podcast small with tint

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.

Read more
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)

Green tint 2

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.

Read more
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

Green tint 1

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.

Read more
Blog

RPC Insurtech in brief – March 2021

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

Gray tint 4

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

Read more
Blog

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

Gray tint 2

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!!

Read more
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)

Green tint 1

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)

Read more
Publication

Tax Bites - March 2021

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

Purple tint

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

Read more
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

Gray tint 4

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

Read more
Podcast

What makes a good underwriter

04 March 2021

Gray tint 2

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.

Read more
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

Gray tint 1

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

Read more
Blog

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

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

Abstract building

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.

Read more
Blog

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

Green tint 1

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.

Read more
Publication

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

Published on 02 March 2021. By Prakash Nair, Director

Green tint 4

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.

Read more
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

Untinted 4

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.

Read more
Blog

Sanctions – A New World?

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

Untinted 4

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.

Read more
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

Green tint 1

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

Read more
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

Green tint

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

Read more
Blog

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

Green tint 2

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.

Read more
Publication

V@ update - February 2021

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

Gray tint 3

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.

Read more
Blog

Insect protein, a market ready for metamorphosis

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

Untinted 3

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.

Read more
Publication

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

Published on 24 February 2021. By Prakash Nair, Director

Green tint 3

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.

Read more
Podcast

A look at blockchain in insurance

24 February 2021

Gray tint 2

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.

Read more
Blog

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

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

Purple tint 5

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.

Read more
Publication

Customs and excise quarterly - February 2021

Published on 23 February 2021. By Adam Craggs, Partner

Purple tint 2

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.

Read more
Podcast

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

22 February 2021

Tax podcast small with tint

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.

Read more
Blog

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

Green tint

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

Read more
Video

Financial CrimeCast: Sarah Pritchard

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

Purple tint 3

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.

Read more
Blog

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 Rebecca Baker , Trainee Solicitor

Green tint 1

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.

Read more
Publication

Take 10 #11

18 February 2021

Untinted 3

Welcome to RPC's fortnightly digest for media lawyers. This month's digest reports on key media developments and latest cases.

Read more
Blog

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

Gray tint 2

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!!

Read more
Blog

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

Published on 17 February 2021. By Neil Brown, Partner

Green tint 1

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.

Read more
Blog

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

Purple tint 3

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.

Read more
Blog

Disciplinary investigations against architects #5 - Referral to Professional Conduct Committee

Published on 16 February 2021. By Emma Wherry, Senior Associate and Sarah O'Callaghan, Associate

Green tint 1

Further to our previous four articles detailing the stages of the Architect Registration Board's disciplinary process up to the Investigations Panel Stage, this article considers the steps that are taken by the ARB in order to refer the matter to the Professional Conduct Committee and the steps that an Architect may wish to take to prepare for that hearing.

Read more
Blog

Disciplinary investigations against architects #5 - Referral to Professional Conduct Committee

Published on 16 February 2021. By Emma Wherry, Senior Associate and Sarah O'Callaghan, Associate

Green tint 1

Further to our previous four articles detailing the stages of the Architect Registration Board's disciplinary process up to the Investigations Panel Stage, this article considers the steps that are taken by the ARB in order to refer the matter to the Professional Conduct Committee and the steps that an Architect may wish to take to prepare for that hearing.

Read more
Blog

UK Courts find hidden voice in film authorship dispute

12 February 2021

Purple tint

The Intellectual Property Enterprise Court (IPEC) has found that there was there was an additional joint author of the Florence Foster Jenkins screenplay – in a decision of significant relevance to the film industry.

Read more
Blog

Sports Ticker (12 February 2021) - Super Bowl LV, NBA investment and Ligue 1 broadcasting

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

Green tint 1

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

Read more
Publication

Retail Compass Spring edition 2021

12 February 2021

Gray tint 3

Welcome to the Spring edition of Retail Compass. We present our guide to the key upcoming legal and policy changes affecting Retail and our thoughts on the need-to-know issues - as retailers look forward to a post-pandemic landscape.

Read more
Blog

The jurisdiction eagle has landed…in the Courts of England & Wales

Published on 11 February 2021. By Parham Kouchikali, Partner and Nina Pulimood, Associate

Green tint 1

Does the governing law for passing off claims fall under Article 6 or Article 8 of Rome II? The High Court's explores this in Lyle & Scott Limited v American Eagle Outfitters Inc(1).

Read more
Blog

When is an error a serious irregularity? The English court demonstrates its approach to correcting arbitration awards

Published on 11 February 2021. By Tatiana Minaeva, Partner and Rosy Gibson, Associate

Green tint 1

A tribunal's admission of a simple computational error, and its refusal to correct it, was a serious irregularity that had caused substantial injustice. On the basis of this, the English court remitted an arbitration award to the tribunal for correction so that the tribunal would have the room to carry outs its stated intention to award substantial damages to one of the parties.

Read more
Blog

The 2021 Budget and M&A

Published on 11 February 2021. By James Mee, Partner and Ben Roberts, Partner

Gray tint 1

Many in business will have a keen eye on Rishi Sunak's Budget announcement that is due on 3rd March. As always, there is intense press speculation as to the measures that may be announced.

Read more
Blog

Amazon in the clear as it fails to hit the target

Published on 10 February 2021. By Ben Mark, Partner and Samuel Coppard, Associate and Matt Davies, Trainee Solicitor

Green tint 1

The High Court has dismissed claims brought against Amazon by Beverly Hills Polo Club for alleged trade mark infringement, arising out of products sold on the US website amazon.com but which are visible to consumers in the UK and EU.

Read more
Blog

Warshaw – Cumulative preference shares constituted ordinary share capital and qualified for entrepreneurs' relief

Published on 10 February 2021. By Alexis Armitage, Associate

Untinted 5

In HMRC v Stephen Warshaw [2020] UKUT 366 (TCC), the Upper Tribunal (UT) has upheld the First-tier Tribunal's (FTT) decision that cumulative preference shares with rights to compound accrued but unpaid dividends constituted "ordinary share capital" for the purposes of section 989, Income Tax Act 2007 (ITA) and therefore qualified for entrepreneurs' relief (ER).

Read more
Podcast

The role of claims in client service

08 February 2021

Gray tint 5

Welcome to Insurance Covered! The podcast that looks at the inner workings of the insurance industry with the help of expert guests. For this episode we are doing something a bit different.

Read more
Podcast

Taxing Matters: Sanctions in a post-Brexit landscape

08 February 2021

Tax podcast small with tint

From the 1st January 2021 the new UK sanctions framework officially came into force under the Sanctions and Anti-Money Laundering Act 2018 (SAMLA).

Read more