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Are there dark clouds on the horizon for SIPP providers?
According to Citywire, the FCA is poised to complete further supervisory work on the SIPP industry with a specific focus on non-standard investments. We understand that the FCA has questioned SIPP providers on the number of high risk investments they hold following a spate of complaints about such products in recent years.
Read moreGeneral liability update October 2017
The latest general liability news coming out of the courts.
Read moreGovernment to cover negligence claims against GPs
Government to cover negligence claims against GPs
Read moreGovernment to cover negligence claims against GPs
Government to cover negligence claims against GPs
Read moreInstant Retail Therapy
ASOS Instant, the same-day delivery service launched by ASOS last week, reflects the growing momentum of "fast shopping", where the ultimate consumer experience is effortless and almost instantaneous.
Read moreMedical device concerns and MHRA compliance
Increase in medical devices regulatory alerts and how to respond to concerns
Read moreGill - Tribunal rejects HMRC's interim applications
In Gill v HMRC [2017] UKFTT 0597 (TC), the First-tier Tribunal (FTT) dismissed three interim applications made by HMRC for (1) permission to adduce expert evidence; (2) a direction excluding a large amount of documentation adduced by the taxpayer; and (3) a direction that the taxpayer disclose data in an alternative format to that provided by the taxpayer.
Read moreNorth Midland Building Limited v Cyden Homes Limited [2017] EWHC 2414 (TCC): Choose your extension of time provisions carefully
North Midland Building Limited v Cyden Homes confirms the primacy of the parties' contract in determining an extension of time. Specifically, in North Midland the High Court held that an amendment made to the construction contract meant that, in a situation of concurrent delay, North Midland Building Ltd (the Contractor) was not entitled to an extension of time from Cyden Homes Ltd (the Employer) and that the prevention principle, had it arisen, would not take precedence over the expressly agreed terms of the contract.
Read moreDigital Disruption and the new world
Oliver Bray tackles the legal issues around the tension caused between digital disruptors and the traditionalists as part of Legal Week's Corporate Counsel Forum Europe 2017.
Read moreSerial referrals and abandoned adjudications: will the court grant an injunction prohibiting adjudication proceedings?
In Jacobs v Skanska, the TCC has recently held that starting a second adjudication on the same or similar issues is unreasonable but not oppressive and an injunction should not be granted. In the recent case of Jacobs UK Limited v Skanska Construction UK Ltd [2017] EWHC 2395 (TCC), Justice O'Farrell DBE clarified the courts will not restrain a party who opens and closes numerous adjudications for a tactical benefit but, the responding party may be granted a wasted costs order.
Read moreChadwick – Discovery assessment on wrong person cannot be remedied by section 114 TMA
In Chadwick (as trustee in bankruptcy of Mrs Gloria Oduneye-Braniffe) v The National Crime Agency [2017] UKFTT 656 (TC), the First-tier Tribunal (FTT) has held than an assessment issued to a trustee in bankruptcy was a gross error that could not be cured by section 114 of the Taxes Management Act 1970 (TMA).
Read moreFCA criticised by Complaints Commissioner for its handling of enforcement limitation issues
The Office of the Complaints Commissioner recently upheld two complaints against the FCA for making a "serious mistake" in its management of limitation issues for two connected investigations. The Commissioner criticised the FCA not only for its mismanagement of the limitation issue, but also for the unnecessary delays in concluding its own internal investigation into these complaints.
Read moreDB Transfers - now what?
We know that the FCA is looking closely at defined benefit transfers; we already have the FCA's review of redress methodology and the defined benefit transfer rules. We now have the results of the FCA's review, into defined benefit transfers and it makes for uncomfortable reading for the financial services industry.
Read moreTax update, October 2017
In this update we report on HMRC’s recently published guidance concerning the new offences of failing to prevent the facilitation of tax evasion; HMRC’s new powers to refuse to register or de-register master trust pension schemes; and new guidance on investors’ relief in the CGT context.
Read moreGetting to the heart of database right and copyright
Getting to the heart of database right and copyright: Technomed Ltd and another v Bluecrest Health Screening Ltd and another [2017] EWHC 2142 (Ch), 24 August 2017 It's not often that a case features successful claims for both copyright infringement and database right infringement but this is one of those cases.
Read moreInsurtech Jargon 101: What does it all mean?
"Insurtech" is a nebulous concept broadly referring to innovative technology in the insurance industry. Comments on insurtech are often littered with references to specific computing concepts which individually are pretty straight-forward. However, when used in conjunction with one another with no further explanation, insurtech jargon can sound much more complex than it really is. I explain some of the key terms below.
Read moreThe FCA: key themes for 2017/18
A look at key developments for the FCA in 2017 and looking forward to 2018
Read moreBailey: Quality trumps quantity as Tribunal grants taxpayer principle private residence relief
In Stephen Bailey v HMRC [2017] UKFTT 658 (TC), the First-tier Tribunal (FTT) granted the taxpayer principle private residence relief, under section 222, Taxation of Chargeable Gains Act 1992 (TCGA), despite having only occupied the property in question for two periods of less than six months.
Read moreVAT update September 2017
In this month’s update we report on the Commission’s evaluation of invoicing rules; revisions to VAT notice 700/50, concerning default surcharge; and details of the consultation on the Making Tax Digital reforms.
Read moreGulf between legal advice privilege in the UK and Hong Kong is widening
Jonathan Cary explains the gulf opening up between England and the other major common law jurisdictions such as Hong Kong in relation to legal advice privilege and the pitfalls to be aware of.
Read moreLuxury fast fashion
The world of high-end fashion has relied on a stable business model for decades; luxury collections are previewed at major fashion events, anticipation builds and then up to six months later products actually go on sale. But it was clear from last week's London Fashion Week that the luxury fashion model is changing as some brands seek to take advantage of consumer demand for fast fashion.
Read moreLandmark ruling on end of life care
Huntington's patient: Court rules Court application no longer necessary in end of life care where patient's family and doctors are in agreement
Read moreThe costs of surrogacy: a valid and separate head of claim
A claimant has been awarded £74,000 for the costs of a surrogacy arrangement, following a hospital's delay in diagnosing cervical cancer.
Read moreGekko – HMRC's unreasonable conduct leads to costs award against it
In Gekko & Company Ltd [2017] UKFTT 586 (TC), the First-tier Tribunal (FTT), in allowing an appeal against assessments to VAT and penalties, awarded the taxpayer its costs as HMRC's conduct had been unreasonable.
Read moreSwansea City player Bony keeps former agents in play
In a dispute with his agents over secret commissions, Swansea City striker Wilfried Bony has succeeded in opposing a stay in English Court proceedings, which would have been implemented had the Court found he had agreed to arbitrate. The decision is an important reminder that national courts will have jurisdiction to hear a claim if the parties have not agreed (expressly or impliedly) to resolve the dispute using arbitration.
Read moreThathiah: HMRC unsuccessful in first senior accounting officer penalty appeal
In Kreeson Thathiah v HMRC [2017] UKFTT 0601 (TC), the First-tier Tribunal (FTT) allowed an appeal against penalties which had been assessed on the finance director of a group of companies under the Senior Accounting Officer (SAO) regime, contained in Schedule 46, Finance Act 2009 (FA 2009), as HMRC had failed to establish that he had breached his duty as a SAO.
Read moreOver the Insured's Dead Body
One year on from the entry into force of the Third Parties (Rights Against Insurers) Act 2010 and the fun and games are just getting started.
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Introducing our new commercial law briefings for retailers
Introducing our new commercial law briefings for retailers
Read moreSettlement considerations following the Rangers decision
Following the Supreme Court’s recent judgment in the Rangers case, many employers who had established employee benefit trusts (EBTs) are facing enforcement notices in respect of income tax and National Insurance contributions.
Read moreHickey Plant Hire - Taxpayer successfully challenges HMRC's narrow reading of penalty rules
In M J Hickey Plant Hire and Contracts Ltd v HMRC [2017] UKUT 308 (TCC), the Upper Tribunal (UT) allowed the taxpayer's appeal and in a carefully considered judgment sets out the correct approach to the penalty rules applicable to 'normal' and 'delayed tax' cases, contained in Schedule 24, Finance Act 2007 (FA 2007).
Read moreTax update, September 2017
In this month’s update we report on HMRC’s new guidance on asset-based penalties for offshore inaccuracies; the GAAR Advisory Panel’s first published opinion on tax planning involving gold bullion and Spotlight 39 on measures designed to avoid the 2019 EBT loan charge.
Read moreCorporate tax update, second quarter 2017
Welcome to the latest edition of our Corporate Tax Update, written by members of RPC’s tax team and published quarterly.
Read moreSpecial relationship
David Wallis and Peter Sugden outline what commercial teams need to know about US/UK deals.
Read moreVigne - HMRC lose business property relief case
In The Estate of Maureen W Vigne (deceased) v HMRC [2017] UKFTT 632 (TC), the First-tier Tribunal (FTT) has determined that the estate of the late Maureen Vigne was entitled to business property relief (BPR), as provided for in section 105, Inheritance Tax Act 1984 (IHTA).
Read moreWelcoming new red tape
The Medical Devices Regulation 2017 is good news for insurers in the life sciences sector. More data on safety and performance will be collected on products before they get to the market
Read moreA level playing Field?
Frank Field's Work and Pensions Select Committee is intending to review the impartiality of defined benefit pension transfer advice. What could this mean for the advisory industry and its PI insurers?
Read moreA level playing Field?
Frank Field's Work and Pensions Select Committee is intending to review the impartiality of defined benefit pension transfer advice. What could this mean for the advisory industry and its PI insurers?
Read moreThe Mayor of London's Affordable Housing SPG: 10 things you need to know (part 2)
This supplementary planning guidance, issued this month, builds on the Mayor's long-term aim for half of all new homes in London to be affordable (as defined in the London Plan). More will no doubt be heard in the revised London Plan when that emerges, but in the meantime here are some headlines which we hope help you cut through the SPG.
Read moreAmazon and the $200billion Internet Economy in South East Asia
Amazon's launch in Singapore last month marks the internet giant's official entry into South East Asia. Sophie Tuson explores why the region, and Singapore in particular, provides such fertile ground for e-commerce businesses in search of growth.
Read moreVAT update August 2017
In this month’s update we report on updated guidance from HMRC on distance selling, the EU (Withdrawal Bill) and the revised place of supply rules for B2C telecommunications.
Read moreSIPP complaints to FOS still on the up
Complaints to the FOS about SIPPs continue to rise, having sky rocketed in the first quarter of 2017.
Read more欧州Ｍ＆Ａ最前線 2017年８月
シンガポール、ハノイ、香港、東京を巡る出張から帰ってきた。クライアントや知人などいろんな人に会ったのだが、会えなかった人がいるのもいつものこと。こんな調子なので、さっそく次の出張の計画を立てた方がいいだろうか。
Read moreThe Mayor of London's Affordable Housing SPG: 10 things you need to know (part 1)
This supplementary planning guidance, issued this month, builds on the Mayor's long-term aim for half of all new homes in London to be affordable (as defined in the London Plan). More will no doubt be heard in the revised London Plan when that emerges, but in the meantime here are some headlines which we hope help you cut through the SPG.
Read moreShow me the money – turning liens into cash
Most charterparties give owners the right to lien cargo for unpaid hire or freight. However, it may be necessary to sell the cargo in order to obtain payment. The English Commercial Court has recently considered the circumstances in which it would be prepared to order the sale of cargo held under a shipowners' lien.
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