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Tribunal sets aside HMRC information notice for lack of clarity

Published on 23 April 2014. By Natalie Drew, Senior Associate

R D Utilities Ltd v HMRC [2014] UKFTT 303 (TC)

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Right time for UK REITs

22 April 2014

Real Estate Investment Trusts ("REITs") are listed companies that invest in physical property, typically commercial real estate.

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Right time for UK REITs

22 April 2014

What are REITs? Real Estate Investment Trusts ("REITs") are listed companies that invest in physical property, typically commercial real estate.

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The latent costs of Osborne's pension overhaul

Published on 22 April 2014. By William Jones, Senior Associate

“No caps. No drawdown limits. Let me be clear. No one will have to buy an annuity."

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Has the Weller case created an image right in relation to the facial expressions of children?

Published on 17 April 2014.

The singer Paul Weller, acting on behalf of three of his children, was successful in his privacy action against Associated Newspapers Limited (ANL) in relation to seven unpixellated photographs of the children and their father out shopping on a public street and relaxing in a café in Los Angeles.

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Restrictive Covenant Clause Enforced Despite it Containing a Drafting Error

17 April 2014

The High Court has just handed down its judgment in the case of Prophet Plc v Huggett.

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Consumer credit cards: FCA questions whether we are getting a fair deal

16 April 2014

Martin Wheatley, Chief Executive of the FCA, speaking last week at the Credit Today Credit Summit, announced that the FCA would be launching a full-scale competition review into the UK's £150bn credit card market before the end of 2014.

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The New Draft ICC Conditions

16 April 2014

A new and updated version of the Infrastructure Conditions of Contract (ICC Conditions) was issued in consultative draft form for comment in March 2014 by the ICC Development Forum.

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The New Draft ICC Conditions

16 April 2014

A new and updated version of the Infrastructure Conditions of Contract (ICC Conditions) was issued in consultative draft form for comment in March 2014 by the ICC Development Forum.

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HMRC’s computer says no!

16 April 2014

In Varma v HMRC [2014] UKFTT 006 (TC), the First-tier Tribunal (Tax Chamber) ('FTT') quashed a penalty that had been issued to a taxpayer for late filing of a self-assessment tax return.

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A lack of goodwill for Medical Professionals

14 April 2014

Over recent years increasing numbers of medical professionals have sought to incorporate their private practices for perceived tax advantages.

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Painting by numbers – Court of Appeal dismisses HMRC's appeal

11 April 2014

The Court of Appeal has dismissed HMRC's appeal in Lord Howard of Henderskelfe's Executors v Revenue and Customs Commissioners [2014] EWCA Civ 278 and confirmed that, as the Portrait of Omai by Sir Joshua Reynolds ('the Portrait') was a wasting asset within the meaning of section 44 Taxation of Capital Gains Tax Act 1992 ('TCGA'), no capital gains tax ('CGT') charge arose on its disposal for £9.4m.

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ICO urges app developers to respect users' privacy

Published on 11 April 2014. By Mark Crichard, Partner

Gray tint 3

The Information Commissioner's Office (ICO) has published guidance[1] aimed at helping mobile app developers comply with the Data Protection Act 1998 (DPA) and ensure that the privacy of app users is protected.

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Net contribution Clause: Court of Appeal Guidance

11 April 2014

The recent Court of Appeal decision in West v Ian Finlay and Associates has confirmed that a properly drafted net contribution clause ("NCC") is a valid and enforceable contractual term.

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New LCIA Rules 2014, draft in consultation

Published on 10 April 2014. By Rebecca Birkby, Senior Associate

The LCIA has released its draft of the new Arbitration Rules, which will be considered by the LCIA Court at its meeting next month on 9 May 2014.

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Is your boss a psychopath?

Published on 10 April 2014. By William Jones, Senior Associate

In the very unlikely event that you have answered in the affirmative, that partner may form part of the 4% of senior business managers who are on the psychopathic spectrum.

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Costs consequences of acceptance of a claimant's part 36 offer

Published on 09 April 2014. By Laura Martin, Senior Associate

The High Court in Haynes v Department for Business Innovation and Skills has allowed an appeal against a decision on the eighth defendant's liability for costs following its acceptance of the claimant's offer under part 36 of the CPR.

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FCA 'game changer' set to discipline add-on markets

08 April 2014

The FCA has published its third Occasional Paper describing the new experimental approach it took in its add-ons market study, where for the first time it used behavioural economics to assess how selling insurance as an add-on affects consumer decisions. This raises key implications for insurers.

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Is an Old Master the same as office chair? The devil's in the detail

Published on 07 April 2014. By Davina Given, Partner

In March 2014, the English Court of Appeal determined that Omai, an 18th century masterpiece by Sir Joshua Reynolds, was an item of "plant or machinery" and a "wasting asset", no different from other trade equipment such as tables, chairs and cars.

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High Court holds that HMRC's winding up petition should be dismissed as an abuse of process.

03 April 2014

The High Court (David Donaldson QC) has held in Enta Technologies Limited v HMRC [2014] EWHC 548 (Ch), that where a winding-up petition was brought by HMRC ...

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Brutal Simplicity of Thought

02 April 2014

"If you want your work to achieve the impossible, you will need 'Brutal Simplicity of Thought'."

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FCA Business Plan 2014/15 and what it means for the general insurance market

01 April 2014

Fewer than 8 lines into the FCA's Business Plan for 2014/15, Martin Wheatley reminds us of just some of the regulator's work over the past year. Interest only mortgages, add on insurance, introductory rates of interest on accounts. He goes on to say "there must be no let up to the pace of our activities for 2014/15."

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Tribunal decides that taxpayers must attempt to obtain information held by trustee!

Published on 27 March 2014. By Natalie Drew, Senior Associate

In the recent case of H A Patel & K Patel (a partnership) v HMRC [1], the First-tier Tribunal (Tax Chamber) (‘FTT’) dismissed an appeal by the taxpayers that information and documents held by a trustee were not ‘in their possession or power’ for the purpose of paragraph 18, Schedule 36, Finance Act 2008.

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Persistent breaches of the partnership agreement? – don’t slice the salami

26 March 2014

The recent Court of Appeal decision in Bishop v Golstein[1] has provided welcome clarification on the way to bring a traditional partnership to an end, when one party has breached the partnership agreement repeatedly.

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RMB exchange rate causing distress: Recent depreciation risks significant losses under exotic currency derivatives

Published on 25 March 2014. By Jonathan Cary, Partner

The renminbi (RMB) appreciation over the last several years appears to have halted for now (at least in the short-term), which has taken much of the market by surprise.

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The Law of Confidence – Where are we now?

25 March 2014

Our latest article, which first appeared in the March 2014 issue of PLC Magazine, ...

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A continuation on a thematic review: insurance broker fined for ABC systems failings

25 March 2014

Such is the seeming regularity with which insurance brokers face censure from the FCA for failings in their anti-bribery and corruption systems and controls that the £315,000 fine dished out to Besso Limited this week may not be considered by some as blog-worthy (particularly when that blog is introduced with such an awful pun).

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Court of Appeal confirms no general duty to advise on sophisticated tax planning

Published on 25 March 2014. By Robert Morris, Partner

Last year the High Court's decision in Mehjoo v Harben Barker gave rise to plenty of lurid headlines.

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Budget 2014 - update

Published on 24 March 2014. By Ben Roberts, Senior Associate

Last week's Budget announcements were light on the property tax front.

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Budget 2014 - update

Published on 24 March 2014. By Ben Roberts, Senior Associate

Last week's Budget announcements were light on the property tax front.

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Blog

Different Emails, Read Together, Can be a Qualifying Whistleblowing Disclosure

21 March 2014

In the case of Norbrook Laboratories (2B) Limited v Shaw the EAT considered whether emails sent to different recipients could be taken as a whole to amount to a qualifying disclosure for the purposes of a whistleblowing claim.

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Market manipulation: why you should give a Forex

Published on 19 March 2014. By Simon Hart, Partner

Allegations of manipulation in the Forex market have the potential to give rise to both regulatory fines and legal claims dwarfing those relating to LIBOR –

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HMRC lose FURBS appeal

Published on 19 March 2014. By Dan Wyatt, Senior Associate

In HMRC v Forde and McHugh Limited [2014] UKSC 14, the Supreme Court has dismissed HMRC's appeal and reinstated the decision of the Upper Tribunal.

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Relief from sanctions: round-up of recent decisions

Published on 17 March 2014. By Dan Wyatt, Senior Associate

Please click here for our latest article which looks at three recent decisions concerning relief from sanctions following the much publicised changes in April 2013 and the seminal case of Mitchell v News Group Newspapers Ltd [2013] EWCA Civ 1537.

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Company succeeds in overturning section 419 ICTA assessment

14 March 2014

The First-tier (Tax Chamber) Tribunal ('FTT') has decided in RKW Limited v HMRC [2014] UKFTT 151 (TC) that consideration payable by an individual in future instalments for subscribing for shares in an unconnected close company, as defined in section 414 Income and Corporation Taxes Act 1988 ('ICTA'), is not a loan or debt within the meaning of section 419 ICTA ('section 419').

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Geographical indication: food for thought

14 March 2014

Food manufacturers and retailers engage with consumers on a variety of levels in order to stand out in an increasingly crowded marketplace.

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Deal or No Deal: FOS recommends taking legal advice following Clark v In Focus

13 March 2014

Reacting to the decision in Clark v In Focus, FOS has updated its technical notes to help guide complainants who might have previously sought to top up their award in Court.

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When within Rome I or II, do as your EU counterpart might (or might not) do but not in quite the same way they would do it.

Published on 12 March 2014. By Jake Hardy, Legal Director

It seems fairly uncommon[1] for a personal injury action to become a precedent of interest to, and significance for, commercial lawyers.

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FCA's first market study finds little value-add in uncompetitive insurance add-ons market

12 March 2014

The FCA is proposing to make dramatic changes to the £1 billion insurance add-ons market in order to protect consumers, according to its market study report released yesterday.

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Litigation privilege in liquidations

Published on 11 March 2014. By Robert Morris, Partner

The recent Court of Appeal decision in Rawlinson and Hunter Trustees SA & others v Akers & another [2014] serves to emphasise that third party reports commissioned by liquidators to enable them to consider whether litigation should be commenced ...

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Scottish integration?

07 March 2014

In December we commented on the regulatory position of Scottish insurers post-independence (should this come to pass).

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TTIP of the iceberg - EU/US trade negotiations

06 March 2014

How will the Transatlantic Trade and Investment Partnership (TTIP) - currently being negotiated between the EU and the US - impact on the insurance market?

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HMRC blunder prevents it from collecting tax

06 March 2014

The Upper Tribunal ('UT') has recently held in Bristol & West plc v HMRC [2014] UKUT 73 (TCC) that closure notices that HMRC had mistakenly sent to a taxpayer were valid and could not therefore be amended.

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The Cost of Redress: Citizens Advice Bureau reveals £5 billion cost of CMCs

05 March 2014

Last week we reported Lady Justice Arden's fears about the "development of a claims industry… that increases the cost of obtaining financial advice".

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Top tips for corporates on conducting internal investigations

04 March 2014

The ability to conduct and manage an internal investigation...

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Misrepresentor remains in firing line following change of counterparty

Published on 04 March 2014. By Daniel Hemming, Senior Associate

In Cramaso LLP v Ogilvie-Grant, Earl of Seafield and others[i] the Supreme Court considered whether a party could be liable for a negligent pre-contractual misrepresentation in circumstances where the party to which the representation was originally made was not the ultimate contracting party.

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Catch the pigeon - Jack Wills clips House of Fraser's wings in trade mark dispute

Published on 04 March 2014. By Jeremy Drew, Partner

Well-known retail brand Jack Wills has successfully relied on its community trade mark of a pheasant (below and left) in infringement proceedings against House of Fraser's use of a pigeon logo (below and right).

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Top tips - internal investigations

03 March 2014

The ability to conduct and manage an internal investigation in a way which is proportionate to the issue which has arisen as well as timely and cost effective is a skill not to be under-estimated.

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Definitive Guideline published for sentencing corporates

28 February 2014

To coincide with Deferred Prosecution Agreements (DPAs) going live earlier this week, the Sentencing Council recently published a Definitive Guideline on the appropriate penalties for corporates convicted of fraud, bribery and money laundering.

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No need to plead and no need for CMCs

27 February 2014

Those celebrating the common sense decision of the Court of Appeal in Clark v In Focus will have an additional reason to smile when they read comments in the leading judgment of Lady Justice Arden on the purpose of FOS and the role of CMCs.

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