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The importance of commercial considerations in contractual construction
The principles governing contractual interpretation under English law are reasonably well-established.
Read moreDon't (Calder) bank on an analogy to the Part 36 regime
When a party makes a Part 36 Offer, the consequences are clear. The rules and sanctions for failure to beat a Part 36 Offer are set out in the Civil Procedure Rules.
Read moreMarket Misconduct Tribunal gives Tiger Asia the "cold shoulder"
Hong Kong's Market Misconduct Tribunal (the MMT) has banned Tiger Asia Management LLC (a hedge fund based in New York) and one of its principal officers from dealing in Hong Kong securities for four (of a maximum five) years.
Read moreHMRC lose employment status case
In the recent case of EMS (Independent Accident Management Services) Limited v HMRC [2014] UKFTT 891 (TC), the First-tier Tribunal (Tax Chamber) ("FTT"), found in favour of the taxpayer on the question of whether or not an employment relationship existed.
Read moreNew UK Procurement Rules Published for Consultation
Draft new Public Contracts Regulations 2015 and a Consultation Document on UK Transposition of the new EU Procurement Directives have recently been published by the Cabinet Office. This paves the way for the 2014 Directives to be implemented in the UK early next year.
Read moreFCA COMPLETES THEMATIC REVIEW OF MOBILE BANKING AND PAYMENTS
The Financial Conduct Authority (FCA) has recently published its findings following its thematic review of mobile banking and payments.
Read moreNo loss of confidence – causation in confidential information claims
Richmond Pharmacology Ltd v Chester Overseas Ltd, Milton Levine and Larry Levine [2014] EWHC 2692 (Ch)
Read moreLeveling the playing field - SFC conclusions on professional investor regime and client agreements
Despite the ongoing political noise coming out of Hong Kong, commercial life and the operation of the financial markets continue unabated.
Read moreUnlimited leave = unlimited productivity?
‘We should focus on what people get done, not on how many hours or days worked. Just as we don’t have a nine-to-five policy, we don’t need a vacation policy.’
Read moreUnlimited leave = unlimited productivity?
‘We should focus on what people get done, not on how many hours or days worked. Just as we don’t have a nine-to-five policy, we don’t need a vacation policy.’
Read moreTribunal allows taxpayer to make a late appeal and rejects HMRC's overly formalistic approach
In Chirag Patel v HMRC[1] the First-tier Tribunal ('FTT') decided that a letter from the taxpayer's accountant constituted a late appeal against a discovery assessment, despite it not being expressed as such.
Read moreEU Consultation on Cloud Computing and Software
The EU has opened a public consultation to help define future research priorities in the areas of Cloud Computing and Software (including Open Source). Any and all stakeholders are invited to submit their views by 10 October 2014.
Read moreAmmunition for Defendants: Claimants may have to waive privilege to prove mitigation
The High Court recently found in a solicitors negligence claim that a claimant acted unreasonably in (1) settling an arbitration and then (2) refusing to waive privilege such that the Court could assess the reasonableness of the settlement.
Read moreBrand & Khan obtain continuing "anti-harassment" order against masseuse
The High Court has recently granted an extension to an anti-harassment injunction taken out by Russell Brand and Jemima Goldsmith, otherwise known as Jemima Khan (the Claimants), against a masseuse (the Defendant).
Read moreSRA's compensation fund to provide cover for negligence claims against uninsured firms
A recent article in Legal Futures suggests that it will cost contributors to the SRA's compensation fund £2.5m in the 2014/15 year in order to cover negligence claims against uninsured firms following the ARP's closure last September.
Read moreIs no news always good news? Drop in complaints may hint at conclusions from over-due FCA complaints review
The FCA's latest publication of complaints data has revealed a decrease of 5% in the overall number of complaints.
Read moreRoot and branch changes to EU VAT rules on intra-entity supplies?
The European Court of Justice (ECJ) last week ruled that services provided by a US insurer to its Swedish branch were subject to VAT in Sweden. This widely reported decision is likely to have implications for insurers and other financial services groups across Europe.
Read moreCMA brings car competition probe to conclusion
The Competition and Markets Authority (CMA) – the UK's leading consumer and competition authority – yesterday published measures which it expects will increase competition and reduce premiums in the car insurance market.
Read moreTax Tribunal has no jurisdiction to consider public law issues in direct tax appeal
The following is taken from an article by Adam Craggs, originally published in Tax Journal
Read moreCrime and privilege
Under English law, legal professional privilege permits a civil litigant or a defendant in criminal proceedings to withhold from the other side documents subject to the privilege.
Read moreBrokers' Duties – Business Interruption
Whilst not exactly a reason for brokers to jump for joy, the recent case of Eurokey Recycling Limited v Giles Insurance Brokers Limited has at least reversed the trend of brokers' duties becoming more onerous with each reported case.
Read moreSupreme Court clarifies continuing police disclosure obligations
The recent Supreme Court judgment in the case of R (on the application of Nunn) v Chief Constable of Suffolk Constabulary and another sheds further light on the continuing duty of the police and the Crown Prosecution Service to disclose information in criminal cases post-conviction.
Read moreSupreme Court: Insurers counting the costs of negligent will drafting
Insurers beware: where limited funds are available in an estate and there has been a dispute caused by solicitor negligence over a will then the usual 'loser pays' rule may not apply...
Read moreSIPPs: FCA announces new capital framework
SIPP Operators will be forced to hold an extra £18m in reserve capital under new rules outlined by the FCA last month.
Read moreClaim for entrepreneurs' relief succeeds: Tribunal finds that the removal from the payroll did not end taxpayer's employment
The First-tier Tribunal (Tax Chamber) (FTT) has decided in Corbett v HMRC[1] that removing a taxpayer from a company's payroll before a sale of that company did not end her employment for the purposes of claiming entrepreneur's relief.
Read moreTurning the clock back
A recent Court of Appeal decision[1] in a pensions' dispute provides a reminder of circumstances in which the English courts will allow a statement of case to be amended to bring a new claim which would otherwise be time barred.
Read moreSlapdash SIPPs told to sharpen up by FCA
SIPP Operators have repeatedly been in the headlines since the FCA completed its second thematic review in 2012.
Read moreSlapdash SIPPs told to sharpen up by FCA
SIPP Operators have repeatedly been in the headlines since the FCA completed its second thematic review in 2012.
Read moreTribunal rejects Ramsay argument and allows taxpayer's appeal in corporate bond case
In Hancock & Hancock v HMRC[1] the First-tier Tribunal (FTT) has upheld the taxpayer's appeal against HMRC's decision ...
Read moreLegal Lasers
Building Information Modelling (BIM) is quickly becoming recognised as the future of design, construction and facilities management for new build projects. But what about existing buildings?
Read moreBank backs another winner in interest rate swaps saga – but is it luck or judgement?
Despite their costly on-going review work and redress exercises, banks that sold interest rate swaps are still facing parallel court claims.
Read moreGood or bad news on the flood insurance front?
Increasingly severe flood events, climate change, new housing in flood plains, inadequate government spending on flood defences – these all point to increasing risk of flooding for more and more properties.
Read moreDividends under Solvency II
As you will be aware, Solvency II will impose requirements as to the quality of the capital held by a firm. Core tier 1 capital is the best, and will typically be made up by ordinary share capital.
Read moreNo reason to delay October 2014 renewal for solicitors
This is traditionally a busy time of year for insurers, brokers and law firms in the run up to the 1 October deadline for securing professional indemnity insurance cover.
Read moreThe Insolvency Service Complaints Gateway – first year report card
In June 2013 the Complaints Gateway was established to provide a single entry point for regulatory complaints against insolvency practitioners.
Read moreTribunal bars HMRC from taking further part in appeal
In BPP University College of Professional Studies v HMRC[1]the First-tier Tribunal (Tax Chamber) (FTT) found that HMRC had failed to comply with an 'unless' order under Rule 8(3) of the Tribunal Procedure (First-tier Tribunal) (Tax Chamber) Rules 2009 (the Rules).
Read moreCredit where credit's due
The controversy surrounding payday loans looks set to continue as the FOS has issued a warning to consumers about payday loan middlemen.
Read moreNo tax please, we're British – Culture test for video games tax relief comes into force
On 19 August 2014, regulations to determine a video game as "British" for the purposes of corporation tax relief for video games development came into force.
Read moreFOS respondents still at risk of further action despite Clark v In Focus ruling
When Lady Justice Arden handed down her judgment in the Court of Appeal case of Clark v In Focus ...
Read moreFirst-tier Tribunal holds that there is no taxable supply where there is no obligation on a subsidiary company which was receiving subsidiary services from the Group parent
In Norseman Gold plc v HMRC[1] the First-tier Tribunal (Judge Colin Bishopp) ("FTT") dismissed an appeal by Norseman Gold plc ("Norseman") ...
Read moreThe perils of skiing, reduced bonuses and missed deadlines
The High Court has recently revisited how loss of chance damages will be quantified in professional negligence claims.
Read moreDenton v White guidance applied
In little more than a month since the Court of Appeal handed down its judgment ...
Read moreEnsuring that where there's a Will, the right way is adopted – and by the right person
The Law Society Gazette has recently reported that claims for mishandling a deceased's estate have more than tripled over the last year, according to figures released by the High Court.
Read morePermission refused to use disclosed documents in foreign proceedings
At the end of June the SFO announced that it had settled claims brought by Vincent Tchenguiz arising from the manner in which his alleged involvement in the collapse of the Icelandic bank Kaupthing hf. was investigated by the SFO.
Read moreOver EUR760 million worth of product seized by EU customs authorities in 2013
According to the "Report on EU customs enforcement of intellectual property rights – Results at the EU border 2013", customs authorities in 2013 opened approximately 87,000 detention cases in respect of 36 million articles, accounting for a domestic retail value of more than €760 million.
Read moreToasted sandwiches are standard-rated “hot food” for VAT purposes
In Sub One Ltd (t/a Subway) v HMRC[1] the Court of Appeal has upheld the decisions of both the First-tier Tribunal (FTT) and the Upper Tribunal (UT) that toasted sandwiches and "meatball marinara" are "hot food" and therefore, for VAT purposes, amount to standard-rated supplies. This decision has implications for a number of fast food outlets.
Read moreTreading uneven boards: VAT claims and setoff – Birmingham Hippodrome Theatre Trust Ltd v HMRC [2014] EWCA Civ 684
The Court of Appeal's decision in this case is likely to create a great deal of uncertainty for taxpayers seeking to recover unlawfully levied VAT from HMRC.
Read moreLet's talk about VAT – a useful reminder
A recent Court of Appeal decision (CLP Holding Co Ltd v Singh and Kaur[1]) serves as a reminder to consider VAT during sale negotiations, and ensure that VAT wording in contracts is sufficiently clear.
Read moreFCA fines general insurer £8.4m for TCF and Conduct Risk failings
The FCA's latest enforcement action in the general insurance sector is a useful source of conduct risk guidance and a reminder that firms cannot delegate their regulatory responsibilities to outsourced service providers, not even to those that are themselves FCA authorised.
Read moreHMRC closing the gap on tax avoidance
Anyone who has invested in, promoted, or advised on any form of tax mitigation scheme may be feeling slightly nervous following the latest announcement from HMRC concerning the on-going saga of tax avoidance. And understandably so.
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