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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for a negligent pre-contractual misrepresentation in circumstances where the party to which the representation was originally made was not the ultimate contracting party.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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Reflective loss – Court of Appeal decision mirrors the position in Gardner v Parker

Published on 27 February 2014. By Christopher Whitehouse, Senior Associate

In the case of Malhotra v Malhotra & Anor[1], the claimant, Mr Rakesh Malhotra, had given a cross-undertaking in damages in support of a without notice injunction, which was later discharged.

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First-tier Tribunal confirms compromise agreement is binding on HMRC

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

The recent case of Southern Cross Employment Agency Ltd v HMRC [2014] UKFTT 088 (TC) considers HMRC's ability (or, in certain cases, their inability) to revoke a decision after a claim has been finalised and paid.

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Deferred Prosecution Agreements (DPAs) go live

26 February 2014

The Director of the Serious Fraud Office, David Green, regards DPA s as "a welcome addition to the prosecutor's tool kit" but nevertheless has confirmed that "Prosecution remains the preferred option for corporate criminality".

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Commercial Court confirms principles relating to law governing arbitration agreements

Published on 25 February 2014. By Chris Ross, Partner

The case of Habas Sinai v VSC Steel Company[1] reinforces the importance of providing for a governing law in contracts, particularly if the parties want an arbitration agreement to be governed by a different law from the law of the seat of the arbitration.

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Deferred Prosecution Agreements (DPAs) go live today

24 February 2014

The Director of the Serious Fraud Office, David Green, regards DPA s as "a welcome addition to the prosecutor's tool kit" but nevertheless has confirmed that "Prosecution remains the preferred option for corporate criminality".

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Battle lines drawn as High Court supports FCA collective investment scheme finding

21 February 2014

Further judicial guidance has been provided on unauthorised collective investment schemes ("CISs").

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The Principle of Fundamental Rule

21 February 2014

God ordered the world with 10 commandments, the FSA thought it would take 11 Principles and, perhaps in a statement of its omnipotence, the PRA has taken on the challenge with just 9 "Fundamental Rules".

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Taxpayer establishes clean break and wins residence case before Tax Tribunal

21 February 2014

The First-tier Tribunal (Tax Chamber) ('FTT') have decided in James Glyn v HMRC [2013] UKFTT 645 (TC) that, although Mr Glyn had retained his London house and returned to it several times during the year under appeal, he had nevertheless ceased to be UK resident for tax purposes as he had sufficiently loosened his ties with the UK to show there had been a distinct break with the UK.

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Annuities – what next for providers and advisers?

Published on 21 February 2014. By Rachael Healey, Partner

The FCA has published its of Thematic Review of Annuities having conducted a substantive review of the annuity market.

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'Total' win for FAGE in Greek yoghurt appeal

20 February 2014

The Court of Appeal has recently handed down judgment in one of only two recent cases concerning a claim for extended passing off.

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When is a solicitor acting as a solicitor?

Published on 20 February 2014. By Rachael Healey, Partner

The High Court has recently given some guidance on whether, when operating its client account, a firm is acting in its capacity as a solicitor.

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Blog

Mitchell: No excuse for a 'common sense' blind spot

19 February 2014

A recent decision by Mr Justice Stuart-Smith in the TCC in The Governor & Company of The Bank of Ireland -v- Philip Park Partnership illustrates that it is possible to push strict emphasis on CPR compliance too far.

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Rolex ruling-CJEU gives good news to EU rights holders

Published on 17 February 2014. By Jeremy Drew, Partner

This article was first published on Lexis®PSL IP & IT on 13 February 2014 and is in a Q&A format with Kate Beaumont.

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Basel III – insurance as a risk mitigant?

Published on 17 February 2014. By Oliver Knox, Senior Associate

RPC's banking team recently attended the Loan Market Association's (LMA's) seminar on "Mitigating Risk – Insurance as a Risk Mitigant" which focussed on whether insurance could be used by banks for the purpose of securing capital relief under Basel III.

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Blog

FOS in focus

14 February 2014

The Court of Appeal confirmed this morning that a FOS complainant with an award at the statutory maximum of £150k cannot sue for the balance of their losses in Court.

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FOS is the one and only

14 February 2014

After what has felt like an interminably long wait, the Court of Appeal has today allowed the appeal in Clark v In Focus.

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CJEU rules that linking and framing is not copyright infringement

Published on 13 February 2014. By Paul Joseph, Partner

The CJEU handed down an important decision this morning on online copyright infringement.

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FTT listens to used car salesman and allows his claim for entrepreneur's relief

13 February 2014

In a recent decision of the First-tier Tribunal (Tax Chamber) ('FTT') it was held that a significant change in business constituted a cessation of one business and the commencement of a second business, (Jeremy Rice v HMRC [2014] UKFTT 0133 (TC)).

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SEC ups the ante on audits of Chinese companies listed in US

Published on 13 February 2014. By Robert Morris, Partner

In its "Initial Decision" No. 553, a US Securities and Exchange Commission administrative law court recently concluded that the Chinese affiliates of five international accounting firms breached section 106 of the US Sarbanes-Oxley Act 2002 ...

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Competition and Markets Authority announces its 'Vision, values and strategy'

12 February 2014

The Competition and Markets Authority ("CMA") is the new combined successor body to the Office of Fair Trading and the Competition Commission, created by the Enterprise and Regulatory Reform Act 2013.

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Offshore Ombudsman: Financial Ombudsman Service for Jersey and Guernsey on its way

12 February 2014

With the first glimmers of spring breaking through the clouds, the Ombudsman, like many of us, is packing his bowler and planning a trip off-shore.

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Tour Operators – Can you benefit from adapting your TOMS calculations?

12 February 2014

After lengthy deliberation, HM Revenue & Customs (HMRC) has announced it is not going to change the way the Tour Operators Margin Scheme [TOMS] is operated in the UK.

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Court clarifies relationship between the CPR and the Companies Act when serving a director resident abroad

Published on 11 February 2014. By Adam Forster, Senior Associate

Following a recent judgment of the High Court, it has been held that an individual who is resident abroad, but who is a director of a UK company, can be served with documents, ...

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Blog

No loss of confidence – establishing causation in confidential information claims

Published on 10 February 2014. By David Cran, Partner and Louise Morgan, Senior Associate

Richmond Pharmacology Ltd v Chester Overseas Ltd, Milton Levine and Larry Levine [2014] EWHC 2692 (Ch)

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Consumer credit reform – impact for insurers and brokers

10 February 2014

From 1 April 2014, the FCA will take over responsibility from the OFT for the policing of the UK consumer credit industry.

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State Street fine shows increasingly active FCA

Published on 10 February 2014. By Jake Hardy, Legal Director

On Friday 31 January 2013, the Financial Conduct Authority ("FCA") released its Final Notice in relation to an investigation of two of State Street's UK businesses.

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British National Working Overseas Has No Right to Bring a Claim in the Employment Tribunals

07 February 2014

For employers who engage staff to work overseas, determining whether the can bring a claim in the Employment Tribunals is becoming increasing difficult.

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Collective Redundancy Consultation: Expiry of Fixed Term Contract Does Not Count Towards 20+ Headcount

Published on 07 February 2014. By Patrick Brodie, Partner

University College v University of Stirling [2014] CSIH 5.

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Standard Bank, a non-standard fine and sub-standard AML systems

06 February 2014

The £7.6m fine recently meted out to Standard Bank was accompanied by a self-congratulatory press release by the regulator heralding new firsts.

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Further guidance from the Tribunal on closure notices: long stop dates

Published on 05 February 2014.

We recently blogged about the timing of closure notices: "Tribunal directs HMRC to issue Closure Notice".

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Blog

Guard Your Reputation With Your Life

Published on 05 February 2014. By Oliver Knox, Senior Associate

A rising trend of corporations who have suffered severe losses as a result of extreme and sometimes unjust adverse media has seen the emergence of a specialist insurance product in the Lloyd's market.

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Blog

Moving with the times – welcome to RPC's Financial Services Blog

04 February 2014

Regulatory change and client demand have prompted us to create a separate Corporate Insurance 'Hub' and re-brand our Regulatory Blog.

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Freedom of information: access denied by ministerial veto

04 February 2014

Not since September 2012 when the Attorney General exercised powers under section 53(2) of the Freedom of Information Act 2000 (FOIA) blocking the release of correspondence between Prince Charles and seven government departments has there been a matter likely to attract attention to the use of the ministerial veto.

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Supreme Court rules that two wrongs can make a right (to rectify)

04 February 2014

The Supreme Court has allowed an appeal to alter mirror wills, signed by the wrong testators, in order that the intended heir may inherit. In Marley v Rawlings and another[1], Lord Neuberger held that the wills should be rectified on the basis that a 'clerical error' had occurred.

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Blog

2014 – Another Year of Planning Reform

03 February 2014

The past few years have seen a raft of changes to planning regime and 2014 seems set to continue with that trend. The matters below highlight some of the changes on the horizon.

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SPLIT TRIALS – does proportionality rule supreme?

03 February 2014

The case management of proceedings in the High Court is governed at all times by the overriding objective which is to enable the Court to deal with cases justly and at proportionate cost.

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Welcome to the Corporate Insurance Hub

Published on 29 January 2014. By James Mee, Partner

Here you'll find commentary on the latest developments in the Insurance industry, whether it's consolidation in the market, new legislation or landmark court decisions.

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Upper Tribunal decides application for extension of time under Civil Procedural Rules

Published on 28 January 2014. By Natalie Drew, Senior Associate

In the recent case of The Commissioners for Her Majesty's Revenue and Customs v McCarthy & Stone (Developments) Ltd and another[1] the Upper Tribunal (Tax and Chancery Chamber) ('UT') was asked to consider whether it should grant HMRC an extension of time to serve its notice of appeal.

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No way out

Published on 27 January 2014. By Jonathan Wyles, Legal Director

If there was ever any doubt about the determination of judges to follow the Court of Appeal's decision in Mitchell v NGN [2013] EWCA Civ 1537, cases since then have shown that they are at least taking heed of the warning delivered by the Master of the Rolls.

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RICS UK Valuation Commission Report

Published on 24 January 2014. By Alexandra Anderson, Partner

Today sees the launch of the RICS UK Valuation Commission Report.

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Tribunal directs HMRC to issue Closure Notice

Published on 22 January 2014. By Natalie Drew, Senior Associate

Mr Kenneth William Bloomfield v The Commissioners for Her Majesty's Revenue and Customs [2013] UKFTT 593 (TC)

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Are you sitting comfortably?

22 January 2014

Do you work in one of the most hazardous workplace environments of the 21st century?

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