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All bets are off for binary options

Following consultation, the Financial Conduct Authority (FCA) announced on 29 March 2019 that, as of 2 April 2019, the sale, marketing and distribution of binary options (including securitised binary options) to retail consumers will be prohibited indefinitely.
Read moreGame theory and the art of litigation strategy - Article 4

Escaping the Hobbesian Trap – the impact of aggression in litigation settlement strategy
Read moreGardner Shaw – directions subject to a pending appeal should not have been varied

In Gardner Shaw UK Ltd and others v HMRC [2018] UKUT 419 (TCC), the Upper Tribunal (UT) has held that the First-tier Tribunal (FTT) should not have varied directions which the FTT had previously issued, when they had been the subject of an unsuccessful appeal to the UT and when an appeal to the Court of Appeal was pending.
Read moreTax update - April 2019

In this month’s update we report on (1) HMRC’s guidance on self-reporting failure to prevent the facilitation of tax evasion; (2) HMRC’s consultation on secondary preferential creditor status on insolvency of a business; and (3) a Parliamentary Select Committee’s call for a public register of beneficial ownership in each British Overseas Territory. We also comment on three recent cases relating to (1) the concept of “staleness” in discovery assessment appeals; (2) a failed DOTAS application brought by HMRC; and (3) the extra-territorial reach of HMRC information notices.
Read moreVAT update March 2019

In this month’s update we report on (1) HMRC’s updated guidance on claiming exemption from Making Tax Digital for VAT; (2) the latest edition of HMRC’s impact assessment for the movement of goods if the UK leaves the EU without a deal; and (3) HMRC’s policy change on VAT treatment of personal contract purchases.
Read moreAudit profession – a year of reflection

In this legal update we look back at some of the key developments for the audit profession in 2018 and consider what the rest of 2019 may hold for the industry.
Read morePraesto - input tax recoverable on fees incurred in defending proceedings against its director

In Praesto Consulting UK Ltd v HMRC [2019] EWCA Civ 353, the Court of Appeal has held that a company was entitled to recover input tax on legal fees it incurred in defending civil proceedings brought against its director.
Read moreHealth and safety update March 2019

Welcome to our March 2019 health and safety update where we look at the health and safety stories that have recently hit the headlines as well as the latest fines and sentences that have been handed down.
Read moreWhat are the circumstances in which acting in breach of EU sanctions will kill a claim?

An Iranian oil company was defrauded in a failed attempt to circumvent EU sanctions - does its claim survive the Patel v Mirza illegality test?
Read moreNew corporate criminal offence: Failure to prevent the facilitation of tax evasion

The Criminal Finances Act 2017, which received Royal Assent on 27 April 2017, introduces new strict liability corporate criminal offences of failure to prevent criminal facilitation of tax evasion. The legislation came into force on 30 September 2017.
Read moreTime to abandon 'fairness'?

In recent years the word 'fair' has become a common feature of HMRC's lexicon. It is often connected with claims by HMRC that a taxpayer is not paying his or her "fair share of tax". It is disseminated with predictable regularity across HMRC press releases, guidance notes and spokesperson's quotes.
Read more"Agency" is not always enough to engage the law of bribery and secret commissions

The Court of Appeal has held that the payment by a seller of a fee to an acquisition agent without the buyer's knowledge does not render the contract for sale void or voidable. The decision turned on whether there was sufficient trust and confidence in the relationship between the buyer and the acquisition agent. Prince Arthur Ikpechukwu Eze v Conway and another [2019] EWCA Civ 88
Read moreA Right Royal Deadlock: Can "Crown" use unlock patented drug?

Can the Government settle the dispute between NHS and Vertex Pharmaceuticals through "Crown" use of the patented drug, Orkambi.
Read moreJudge makes alarming comments about validity of standstill agreements in Inheritance Act claims

In a recent judgment, the High Court has cast doubt on the extent to which the court will recognise standstill agreements in applications under the Inheritance (Provision for Family & Dependents) Act 1975.
Read moreA licence to kill... a licence

In the second of a number of short articles we are producing in relation to businesses in the tech space, we will be discussing a real life example of what not to do when diligencing a tech company and its third party IP licence agreements.
Read moreSeeking the "right regulation" of digital services: Lords' Communications Committee articulates its vision

In 2018, Mark Zuckerberg, Facebook's CEO, told the US Senate Judiciary Committee that the question was no longer whether there should be regulation of the internet, but what is the right regulation.
Read moreWhen does delay by HMRC render a discovery assessment invalid?

In the recent case of Clive Beagles v HMRC [2018] UKUT 380 (TCC), the Upper Tribunal (UT) held that a delay of nearly two and a half years between (i) HMRC discovering that a taxpayer's self-assessment tax return was insufficient and (ii) HMRC issuing an assessment, was too long. As the discovery had become 'stale' by the time of the assessment, the assessment was invalid.
Read moreEnforceable oral contracts – Supreme Court looks to conduct and context

To avoid expensive litigation, contracting parties should ensure that all essential terms are expressly agreed within a legally binding contract. Where some essential terms are missing, but the parties clearly intend to be bound by and act on their agreement, the court will be keen to find an enforceable agreement. Wells v Devan 2019, UKSC 4.
Read moreBMW Rides to Victory

BMW, the well-known manufacturer of cars, motorcycles and engines, secured summary judgment in respect of its claim for trade mark infringement and passing off arising out of the registration of a UK company under the BMW name.
Read moreRoma wasn't built in a day; how Netflix conquered the Oscars

In 2017, at the Cannes Film Festival, the film 'Okja' was debuted. It was produced by Brad Pitt's production company 'Plan B' and starred Tilda Swinton and Jake Gyllenhaal. It also featured a giant CGI pig, whose capture and treatment raised issues on animal welfare, and whose - spoiler alert – rescue, made the hairs on the back of one's neck stand up.
Read moreLaw Society introduces new Code for Completion by Post

Conveyancing practitioners need of course to familiarise themselves with the new Code, in advance of its implementation date of 1 May 2019. Following Dreamvar, the new Code underlines the fact that the burden of detecting fraudulent sellers falls squarely on the sellers' solicitors.
Read moreCurzon – contractor loan scheme notifiable under DOTAS but scheme administrator not a 'promoter'

In HMRC v Curzon Capital Ltd [2019] UKFTT 0063 (TC), the First-tier Tribunal (FTT) has held that a contractor loan scheme was a notifiable arrangement for the purposes of the disclosure of tax avoidance arrangements (DOTAS) regime, but that the scheme administrator was not a promoter. Accordingly, HMRC's application for an order that the arrangements were notifiable was dismissed.
Read moreTax update - March 2019

In this month’s update we report on (1) clarification from HMRC on time limits for discovery assessments into tax returns where the loss of tax is due to avoidance; (2) HMRC’s updated guidance for settling disguised remuneration schemes; and (3) confirmation in Spotlight 48 that taxpayers who have taken out disguised remuneration loans do not need to obtain a deed of release or exclusion of the loan from the lender before HMRC will agree a settlement.
Read moreProduct liability update - February 2019

A round-up of some of the recent stories making the news, from the Product Safety Marking in the event of a “no deal” Brexit to Social media and product advertising.
Read moreOrgan Donation: The New Law

An "opt-out" system for organ donation is expected to come into effect in England next year after passing the final parliamentary vote this week
Read moreVAT Update - February 2019

In this month’s update we report on (1) changes to the VAT IT system rules and processes if the UK leaves the EU without a deal; (2) EU exit legislation; and (3) revisions to HMRC’s Notice of Making Tax Digital for VAT.
Read moreWho was best dressed at the Oscars?

Always popular, often outrageous, and unfortunately sometimes sexist; the best and worst dressed lists have been must-have articles for publishers around award season since 1940. But does success or failure on these lists have any impact on the brand of the celebrity, or the designer?
Read moreSpotlight on private wealth - February 2019

Welcome to our new look Spotlight. Our quarterly update highlights developments in the private client world – with a focus on disputes and how to avoid them.
Read moreMedicinal Cannabis – How far have we really come?

Cannabis, for medicinal purposes, was legalised nearly four months ago in the UK, but how many patients are actually reaping the benefits, and how far have we really come?
Read moreJimenez - Court of Appeal confirms extra-territorial reach of information notices

In R (oao Jimenez) v HMRC [2019] EWCA Civ 51, the Court of Appeal has held that HMRC can issue an information notice to a taxpayer under paragraph 1, Schedule 36, Finance Act 2008 (FA 2008), even if he is non-resident.
Read moreCustoms and excise quarterly update: February 2019

In this update we report on the effect of a no deal Brexit in relation to (1) customs processes and procedures; (2) binding tariff information; and (3) changes to tax procedures. We also comment on three recent cases relating to (1) obtaining an injunction when HMRC revoke Authorised Warehousekeeper status; (2) the application of retrospective inward processing authorisation periods; and (3) the seizure of vehicles.
Read moreHigh Court on the Pulse with RCDs
In the fight between two wearable sports-tech giants, PulseOn v Garmin, the Court of Appeal has confirmed that the High Court correctly applied the test for infringement of Registered Community Designs and that Garmin's sports watch did not infringe PulseOn's design.
Read moreLove (or hate) Data?

Personal Data and Special Category Personal Data – what has changed? "The course of true love never did run smooth" - Shakespeare, W., A Midsummer Night's Dream The definition of personal data is obviously fundamental to the General Data Protection Regulation (GDPR). When considering data protection, your first question should always be – 'is this data personal data?'
Read moreFCA issues Final Report in the Wholesale Insurance Broker Market Study

Today, the FCA released its Final Report in its Wholesale Insurance Broker Market Study. The study, which was launched in 2017, considered competition, transparency and conflicts concerns arising from changes in the market, including an increased use of broker facilities.
Read moreFrom rehabilitative robotics to automated imaging: educating the workforce for the digital future

An independent review into the future impact of digital technology identifies a pressing need for specialist training within the healthcare workforce.
Read moreIs a good arguable case good enough? The Court of Appeal considers the test for establishing jurisdiction

The test for deciding whether a claimant has a good arguable case is relative following the Court of Appeal's decision in Kaefar v AMS Drilling and others.
Read moreSmoke and mirrors? Big Tobacco slip(stream)s back into Formula One sponsorship deals

RPC reports on Philip Morris and British American Tobacco securing major partnerships with Ferrari and McLaren, prompting investigations into their compliance with domestic and international advertising laws.
Read moreWhen does an Oscar speech become defamatory?

In recent years, it has become the norm for presenters and winners alike at the Oscars to use their stage time to make political statements. However, politics at the Oscars has not always been so accepted. We take a look here at the shifting attitude of the Academy towards politically-charged speeches, and whether they may cross the legal line into defamation.
Read moreHegarty – HMRC information notices invalid

In Hegarty v HMRC [2018] UKFTT 0774 (TC), the First-tier Tribunal (FTT) has held that HMRC issued invalid information notices under paragraph 1, Schedule 36, Finance Act 2008 (FA 2008), as it did not provide any evidence to support its suspicion that the taxpayers had paid insufficient tax.
Read morePart Three: Five practical implications of side letters and most favoured nations clauses for fund investors and managers

In this third and final part of our series on side letters and most favoured nation (MFN) clauses in private equity funds, we examine five practical implications for investors and managers.
Read moreLatin America insights - Ecuador

Ecuadorian (re)insurance claims have formed a part of RPC’s Latin American practice for some years.
Read moreHappy Valentine's Day from RPC: Love (or hate) data?

So it is that time of year again. Love is in the air - roses, prosecco (if you're lucky, champagne), chocolates (in boxes covered in sickly hearts as though a heart surgeon has gone serial killer – yes, we're big fans of Luther).
Read moreSupreme Court Refuses to allow a Claim against Lawyers for Loss of a Dishonest Claim

On 13 February 2019 the Supreme Court handed down judgment in its first decision on loss of chance principles for 14 years (in Perry v Raleys Solicitors [2019] UKSC 5).
Read moreCorporate tax update Fourth quarter 2018

Welcome to the latest edition of our Corporate Tax Update, written by members of RPC’s tax team and published quarterly. In this final 2018 edition we highlight some of the key tax developments of interest to UK corporates from the fourth quarter of 2018.
Read moreTime waits for know-ledge: but what does that mean for limitation?

Keep limitation under review, Section 14A does not extend the limitation period until each and every breach is identified and a claimant cannot postpone the date of 'knowledge' under Section 14A of the Limitation Act by choosing which breach of duty it relies on.
Read moreHMRC launches profit diversion compliance facility

On 10 January 2019, HMRC launched their Profit Diversion Compliance Facility (PDCF). The PDCF is a new voluntary disclosure facility, aimed at multinational enterprises (MNEs), that provides them with an opportunity to disclose and correct tax inaccuracies relating to profits diverted out of the UK.
Read moreGeneral liability newsletter February 2019

The latest general liability news coming out of the courts.
Read moreHymanson – HMRC's decision to revoke the taxpayer's fixed protection was unreasonable

In G Hymanson v HMRC [2018] UKFTT 667, the First-tier Tribunal (FTT) has held that HMRC’s decision to revoke the taxpayer's fixed protection was unreasonable and directed that it be reinstated. In so finding, the FTT applied the equitable maxim ‘that which should be done should be treated as having been done’.
Read more"Move fast and break things" (just not patients)

The AoMRC's report on Artificial Intelligence in Healthcare presents dilemmas for clinicians, hospital and industry
Read moreCan you sell an Oscar?

An Academy Award (an Oscar) is one of the most prestigious accolades which a person in the film industry can receive. The awards symbolise tradition, exceptional quality and exclusiveness. Leaving the film reviews to the Academy itself, we focus on what is behind the Oscars brand: what the brand stands for and the steps the Academy has taken to protect the brand's integrity.
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