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Cyber_Bytes - Issue 30
Welcome to Cyber_Bytes, our bi-weekly round up of key developments in cyber, tech and evolving risks.
Read moreFCA guidance on cancellations and refunds
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.
Read moreSunak's new Super-Deduction – now is the time for retail investment?
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.
Read moreSports Ticker (12 Mar 2021) - Rugby World Cup, Fenway Sports Group and Dettol
Welcome to the latest edition of the RPC Sports Ticker - providing fortnightly bite-size updates from around the sports industry.
Read moreSPACs Invaders – Implications for D&O insurers
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 moreTime for action on abusive card charges
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 moreDitton – HMRC cannot issue daily late filing penalties retrospectively
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 moreThe RICS key to unlock the market?
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 moreTaxing Matters: International Women's Day Special
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 moreHMRC Crackdown on Covid-19 Fraud
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 moreHelpful 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
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 moreRPC Insurtech in brief – March 2021
Welcome to the latest edition from RPC of Insurtech in brief, providing you with a handful of snappy monthly updates from the industry.
Read moreRPC 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.
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 moreDoes an expert owe a fiduciary duty to its client?
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 moreTax Bites - March 2021
Welcome to the latest edition of RPC's Tax Bites - providing monthly bite-sized updates from the tax world.
Read moreNew year, new strategy – what to expect in a post-pandemic retail landscape
Most importantly, retailers and brands must be ready to change and evolve to meet the rapidly shifting demands of consumers.
Read moreWhat makes a good underwriter
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 moreUK Listing Review wants companies to stay at home
Recommendations will make it easier to list and fundraise on the London Stock Exchange
Read moreSSE Generation – Taxpayer's capital allowances victory marred by procedural issue
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 moreA 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
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 moreFalse statements in a bill of lading and the indemnities to a master
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 moreFOS and the Adams v Carey decision – where are we as the Court of Appeal hearing starts?
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800 DB Transfer complaints to the FOS: A 44% increase in one year
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 moreSanctions – A New World?
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 moreSports Ticker (25 Feb 2021) - England Cricket partnership, New Balance and Fantasy Premier League
Welcome to the latest edition of the RPC Sports Ticker - providing fortnightly bite-size updates from around the sports industry.
Read moreTech-driven arbitration? What else can we look forward to in arbitration in the UK?
A look at the past year in arbitration in the UK and what the future holds.
Read moreWhat if my CEO asks me about…. whether employees need to be vaccinated before coming back to our premises
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 moreV@ update - February 2021
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 moreInsect protein, a market ready for metamorphosis
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 moreMisrepresentation, inducement, reservation of rights, affirmation of contract, rescission and damages in lieu of rescission
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 moreA look at blockchain in insurance
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 moreBradford – Tribunal refuses HMRC's application for further and better particulars
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 moreCustoms and excise quarterly - February 2021
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 moreTaxing Matters: Private prosecutions: an essential part of your business' toolkit
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 moreCyber_Bytes - Issue 29
Welcome to Cyber_Bytes, our bi-weekly round up of key developments in cyber, tech and evolving risks.
Read moreFinancial CrimeCast: Sarah Pritchard
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 moreCommercial Court cracks down on crypto-fraudsters (if it can find them)
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 moreRPC Bites #25 - Dry January further boosts no/lo sales, PepsiCo and Beyond Meat join forces and Mondelez faces price fixing allegations
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 moreNational Security and Investment Bill – when will it come into force?
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 moreEmbiricos: HMRC cannot issue a partial closure notice without specifying the amount of tax due
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 moreDisciplinary investigations against architects #5 - Referral to Professional Conduct Committee
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 moreDisciplinary investigations against architects #5 - Referral to Professional Conduct Committee
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 moreUK Courts find hidden voice in film authorship dispute
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 moreSports Ticker (12 February 2021) - Super Bowl LV, NBA investment and Ligue 1 broadcasting
Welcome to the latest edition of the RPC Sports Ticker - providing fortnightly bite-size updates from around the sports industry.
Read moreRetail Compass Spring edition 2021
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 moreThe jurisdiction eagle has landed…in the Courts of England & Wales
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 moreWhen is an error a serious irregularity? The English court demonstrates its approach to correcting arbitration awards
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 moreThe 2021 Budget and M&A
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 moreAmazon in the clear as it fails to hit the target
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.
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