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Upper Tribunal confirms 'flip-flop II' scheme was effective

03 November 2015

In Clive Bowring and Juliet Bowring v HMRC[1], the Upper Tribunal (UT) has allowed the taxpayers' appeal and concluded that a scheme, designed to reduce capital gains tax (CGT) due on capital payments made by a trust, was effective.

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FCA and PRA up the ante on regulatory references

Published on 02 November 2015. By Emma Griffiths, Senior Associate

The FCA and PRA have announced a consultation in respect of their proposals to introduce a mandatory form of employment reference (known as a "regulatory reference").

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Blog

Don't blame it on the sunshine – the impact of weather on the retail industry

30 October 2015

The Met Office has recently published a report that considers the impact of weather on the retail industry (a copy is available here).

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Blog

“Small is beautiful” – so long as it is well defined, well measured, electronically innovative and mature with its people & with its law firm partners: reflections on the PLC GC SME Conference 2015

Published on 30 October 2015. By Richard Haywood, Consultant

How often have you still been as engaged at the end of the day at a conference as you were at the start?

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Blog

The "RES COGITANS" – still no relief for shipowners in OW Bunker saga

30 October 2015

In an eagerly-awaited decision, the English Court of Appeal has unanimously upheld the conclusion of the Commercial Court (itself affirming a decision of London maritime arbitrators) that a bunker supply contract on the OW Bunker terms is not a "contract of sale of goods" to which the Sale of Goods 1979 Act applies[1].

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Blog

HMT extends radical changes to Senior Managers and Certification Regime

29 October 2015

The Senior Managers and Certification Regime (SM&CR) along with the Senior Insurance Managers Regime (SIMR) were designed to improve personal responsibility within banks and insurers.

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Blog

The Pensions Freedoms and FOS – trends in complaints and enquiries

Published on 29 October 2015. By Rachael Healey, Partner

FOS has published a response to the Treasury's consultation paper looking at early exit penalties, the transfer process and communications with consumers in relation to financial advice on pensions.

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Blog

FCA action highlights wider concerns with consumer credit lending practices

29 October 2015

The FCA has recently announced that it has reached an agreement with Dollar Financial UK (Dollar), to refund over £15.4 million to 147,000 customers.

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Publication

VAT update

29 October 2015

HMRC publishes responses to consultation on new penalties model

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Blog

Unjustified threats regime: Law Commission final report published

Published on 29 October 2015. By Georgia Davis, Legal Director

On 12 October 2015, the UK Law Commission issued its second and final report on groundless threats in IP infringement proceedings entitled "Patents, Trade Marks and Designs:

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Blog

Cyber Attacks on Law Firms on the Up

Published on 29 October 2015. By Simy Khanna, Senior Associate

Law firms are the custodian of clients' intellectual property, commercially sensitive and personal information.

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Blog

Section 14A revisited – how much does a claimant need to know?

Published on 28 October 2015. By Rachael Healey, Partner

The Court of Appeal has looked at whether or not a claimant had sufficient knowledge under Section 14A when it was told that a firm had been negligent but not told that any damage may result.

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Blog

The future of shape marks

Published on 26 October 2015. By Paul Joseph, Partner and Rebecca Rose, Associate

'What do you see?' This is a question most often associated with crystal balls, but it will now be asked by thousands of brand owners across the EU member states, whatever the shape of the goods they produce.

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Blog

The hidden costs of divorce – lawyers beware the price tag!

Published on 26 October 2015. By Laura Stocks, Senior Associate

As a result of the Supreme Court's decision on 14 October 2015 in the cases of Sharland and Gohil, parties in divorce proceedings are now able to re-open their financial settlements where there is evidence of fraudulent non-disclosure.

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Blog

"Vote Tracey"

23 October 2015

Acting Chief Executive of the FCA, Tracey McDermott's speech at the Mansion House last night made a good case for appointing her to the role on a permanent basis by appealing to the sector with a warning about pendulum swings and the risk of getting "caught in a loop where we regulate, deregulate, repeat on an infinite cycle".

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Blog

Taxpayer wins residency status appeal

Published on 23 October 2015. By Adam Craggs, Partner

In Mark Carey v HMRC*, the taxpayer successfully claimed share loss relief.

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Blog

Pension freedoms guidance & advice - Parliament wades in

Published on 22 October 2015. By Rachael Healey, Partner

The Work & Pensions Committee, following a call for evidence in early September, has published a report considering the first six months of the new pension freedoms.

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Blog

IndiGo continues to soar over rivals in the Indian airline industry

22 October 2015

On Monday 26 October, InterGlobe Aviation (the operator of IndiGo Airlines) is due to launch its initial public offering (IPO).

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Blog

The effectiveness of a US exclusive jurisdiction clause in light of the (Recast) Brussels Regulation

Published on 22 October 2015. By Amelia Payne, Associate and Simon Hart, Partner

The Court of Appeal ruled that a company which provides benefits to employees of associated group companies may be regarded as an employer if it provides those benefits to reward and encourage the employees for the benefit of their employer and the group as a whole.

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Blog

HMT extends and radically changes the Senior Managers and Certification Regime

19 October 2015

The Senior Managers and Certification Regime (SM&CR) along with the Senior Insurance Managers Regime (SIMR) were designed to radically alter the playing field for personal responsibility within banks and insurers.

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Blog

Can omni-channel deliver a retail experience?

16 October 2015

Greater competition for a hassle-free retail experience is on the agenda for both internet only and bricks and mortar retailers.

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Blog

Tribunal considers Tower M Cashback and scope of 'conclusion' in closure notice

16 October 2015

In B & K Lavery Property Trading Partnership v HMRC[1], the First-tier Tribunal (FTT) declined the Appellant's application to strike out HMRC's case and allowed HMRC's application to amend its statement of case.

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Blog

Office to residential development crusade continues

16 October 2015

As part of the Government's ongoing crusade to get homes built, the office to residential permitted development right, previously set to expire in May 2016, has been made permanent.

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Blog

LinkedIn 101

15 October 2015

Use social networks wisely and the rewards are great. Get it wrong and at best, you end up looking like a stalker having viewed your colleague's profile one too many times.

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Blog

MoJ quietly halts work on new economic crime offence – what does the announcement tell us?

13 October 2015

Recently the Justice minister Andrew Selous MP stated in an answer to a written question submitted by Byron Davies MP, that the Ministry of Justice has decided not to take forward the proposal for a new offence of a corporate failure to prevent economic crime offence.

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Blog

'Stand Up and Deliver' - the competition for same day delivery hots up

12 October 2015

Argos has become the first UK bricks and mortar retailer to offer shoppers same day delivery up to 10pm.

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Blog

Mind the gap: Financial Advice Market Review must focus on consumer responsibility

Published on 12 October 2015. By Simon Laird, Global Head of Insurance

Pension freedoms will mean a bigger advice gap. The burning question is - what are the Treasury and FCA going to do about it?

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Blog

Risky business? VAT exemption limits for would-be insurance intermediaries

Published on 08 October 2015. By Ben Roberts, Senior Associate

The latest case to consider the extent of the VAT exemption for "insurance intermediary" services has again highlighted the limits of the exemption.

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Blog

FCA blows the starting whistle on new rules

Published on 08 October 2015. By Emma Griffiths, Senior Associate and Joanna Holford, Senior Associate

The FCA and PRA have introduced new rules to build on and formalise the good practice already found in the whistleblowing procedures of large UK-based banks, building societies*, investment firms and insurers.

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Blog

Sending out an SOS

08 October 2015

Britain's second-biggest steelmaker Sahaviriya Steel Industries UK (SSI UK) announced late last month that its Redcar plant is to be mothballed or closed, with the loss of at least 1,700 jobs.

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Blog

EU court declares 'safe harbor' data-transfer agreement invalid

07 October 2015

Gray tint 4

The Court of Justice of the EU (CJEU) has declared that the "Safe Harbor" framework agreement cannot be relied upon to justify transfers of personal data from the EU to the US.

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Publication

Employment update, September 2015

07 October 2015

HR assistance in disciplinary procedures: how much is too much?

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Blog

Tribunal finds HMRC's information notice to be invalid

Published on 07 October 2015. By Adam Craggs, Partner

In PML Accounting Limited v HMRC[1], the First-tier Tribunal (FTT) has found that a taxpayer information notice was invalid, as HMRC should have issued a third party information notice.

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Blog

EU Court declares 'Safe Harbor' data-transfer agreement invalid

07 October 2015

Untinted 4

The Court of Justice of the European (CJEU) has declared that the "Safe Harbor" framework agreement cannot be relied upon to justify transfers of personal data from the EU to the US.

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Blog

The responsibilities of SIPP administrators and trustees for investments – where are we now?

Published on 05 October 2015. By Rachael Healey, Partner

The Pensions Ombudsman has published a decision rejecting a complaint made against a SIPP administrator in relation to the suitability of investments held within a SIPP.

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Blog

High Court guidance on the admissibility of expert evidence

Published on 05 October 2015. By Tim Brown, Partner

British Airways has succeeded in partly overturning the decision of a Deputy Master who refused BA permission to adduce expert evidence in litigation against the trustees of one of its defined benefit pension schemes.

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Blog

Do you know you're being tracked?

Published on 05 October 2015. By Oliver Bray, Partner

Do you own a smart phone? Do you always have WiFi enabled? If your answers to both these questions are yes, your movements were most probably tracked on your way into work today.

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Publication

Tax update

01 October 2015

Follower Notices and APNs – new Guidance issued by HMRC

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Blog

Shining a light on the journey from baseline to brilliance

01 October 2015

In my blog last week I talked about the "thirds rule of good conferences" as preached by seasoned GC Bruce Macmillan:

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Blog

ENE Dream Will Do

Published on 01 October 2015. By Philip McCormack, Associate

A host of case management powers is available to the Court by virtue of CPR 3.1.

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Blog

IP Crime Report 2014-2015

Published on 30 September 2015. By Ben Mark, Partner

According to the "IP Crime Report 2014/2015" published by the national IP Crime Group, the Border Force detained over 1.6 million infringing items over the reporting year, with an "if genuine" retail value in excess of £56 million.

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Blog

FCA fines finance director for failing to blow the whistle

30 September 2015

Approved persons should be open and co-operative with their regulators, as highlighted by the FCA's recent enforcement action against Craig McNeil, former Keydata finance director.

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Blog

Tribunal considers jurisdiction in relation to 'special relief' and allows taxpayer's appeal

Published on 30 September 2015. By Nicole Kostic, Senior Associate

In James Ronaldson Scott v HMRC[1], a case in which the taxpayer appealed HMRC's refusal to grant "special relief" under paragraph 3A, Schedule 1AB, Taxes Management Act 1970 (TMA 1970) ...

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Publication

Is time up for claims against valuers?

29 September 2015

Assessing the point at which a cause of action accrues in a claim against a valuer is a difficult task, not least because of the lack of judicial guidance on the issue.

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Blog

Repudiatory breach implicitly excluded in multi-party LLP agreements

Published on 29 September 2015. By Geraldine Elliott, Partner

In the recent decision of Flanagan v Liontrust Investment Partners LLP and others[1] the High Court held that the doctrine of repudiatory breach is excluded in multi-party limited liability partnership agreements ...

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Blog

Is Titan Steel rusting?

29 September 2015

The definition of a 'private person' who can bring a court claim for breach of FCA rules may be extended after a potentially very significant development in the MTR Bailey v Barclays case.

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Blog

Tracing Mr Maluf's millions

Published on 28 September 2015. By Alan Williams, Partner and Tim Brown, Partner

The recent Privy Council decision in Federal Republic of Brazil and another v Durant International Corporation and another upholding a Jersey Court of Appeal judgment provides guidance on the approach the English Courts may now take to backwards tracing.

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Publication

General liability update

28 September 2015

Defending a claim for breach of Occupiers’ duty – A bridge too far?

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Blog

EU Consultation on standards for a Digital Single Market

Published on 24 September 2015. By Sarah Hill, Legal Director

On 23 September 2015, the European Commission launched a public consultation on information and communications technology ("ICT") standards for creation of a Digital Single Market.

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