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Making your mark – The Intrapreneur

29 August 2013

Being an entrepreneur isn't for everyone. You may have a knockout idea and the 'right stuff' (whatever that is), but starting your own successful business often requires a consternating cocktail of luck, timing, contacts, money, financial risk and personal sacrifice.

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A recent High Court decision acts as a reminder to take care in seeking to settle disputes

Published on 28 August 2013. By Alan Williams, Partner

The recent decision by the English High Court in Newbury v Sun Microsystems [2013] EWHC 2180 (QB) underlines the importance for lawyers of taking care when settling disputes.

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Tax tribunal considers the application of the SDLT anti-avoidance legislation contained in section 75A Finance Act 2003

28 August 2013

HMRC have been successful before the First-tier Tribunal ("FTT") in Project Blue Ltd v HMRC [2013] UKFTT 378 (TC), an SDLT case in which the anti-avoidance provisions contained in sections 75A to 75C, Finance Act 2003 fell to be considered. Unless otherwise stated all statutory references below are to Finance Act 2003.

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Trunki successfully wheels out design rival before the High Court

27 August 2013

The High Court has recently found that design rights and copyright in the well-known 'Trunki' rideon suitcase for children were infringed by a Hong Kong based competitor's ride-on suitcase for children called the 'Kiddee Case'.

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High Court rules that South African subsidiary was not domiciled in England

23 August 2013

In Vava –v- Anglo American South Africa Ltd (AASA) and Young–v- AASA

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Procurement Policy Note on EU Directives

23 August 2013

The Cabinet Office has issued a Procurement Policy Note (“PPN”) which summarises the main outcomes of the new EU Directives relating to public procurement, utilities procurement and service concessions. The PPN also outlines the next steps in finalising and implementing the Directives.

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Making money out of Jane Austen

22 August 2013

The popularity of RPC's book group shows there are a fair few bookworms around the firm.

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HELP TO BUY: BOOM OR BUST?

22 August 2013

The Help to Buy initiative forms part of the Government's Funding for Lending scheme.

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Tax avoidance – the beginning of the end?

Published on 21 August 2013. By Rachael Healey, Partner

Last week HMRC published a consultation document entitled "Raising the stakes and tax avoidance".

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HMRC suffer humiliating defeat in overseas pension scheme judicial review

20 August 2013

In what can only be described as a humiliating capitulation, HMRC have conceded defeat during the course of a hotly contested judicial review hearing in the High Court.

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Cowboys and followers: HMRC's latest consultation on tax avoidance

16 August 2013

On 12 August 2013 HMRC launched a new consultation document: Raising the stakes on tax avoidance. The consultation is open for a short period, the closing date for comments being 4 October 2013.

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High Court considers non-party costs order on appeal

Published on 15 August 2013. By Dan Wyatt, Senior Associate

The High Court recently gave judgment on an appeal against a master's costs decision in AP (UK) Limited v West Midland Fire & Civil Defence Authority.

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SDLT group relief anti-avoidance – good news from HMRC

Published on 14 August 2013. By Ben Roberts, Senior Associate

Last week saw some (much needed) good news on the topic of SDLT avoidance, that should clarify HMRC's approach to the common commercial practice of transferring a property intra-group, following the acquisition of a property-owning company (PropCo).

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A new approach to corporation tax?

08 August 2013

On 31 July 2013 the House of Lords Select Committee on Economic Affairs published its first Report in the 2013-2014 session:

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Supreme Court sheds light on service of English proceedings abroad

Published on 07 August 2013. By Jake Hardy, Legal Director

The Supreme Court in its decision in Abela & Ors v Baadarani considered the requirements for service of English proceedings abroad, ...

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Calculating the value of a restitutionary award in a claim for unjust enrichment

07 August 2013

The Supreme Court judgment in Benedetti v Sawaris and others ([2013] UKSC 50) clarified the basis on which a court should evaluate the remuneration (or quantum meruit) for the value of a person's services based on the unjust enrichment of the person receiving the services.

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First reported vibration white finger professional negligence claim brings white knuckle decision to those advising defendants

06 August 2013

The first reported professional negligence case arising out of under-settlements for former miners in the government's vibration white finger ("VWF") compensation scheme has recently come to trial.

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The rule of law, tax avoidance and the GAAR

Published on 31 July 2013. By Adam Craggs, Partner

Tax is in the news and making the headlines as seldom before, but the debate is not always as informed as it might be...

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BSKYB on cloud 9 as court rules Microsoft's "SkyDrive" infringes its marks

Published on 31 July 2013. By Jeremy Drew, Partner

The High Court has ruled in favour of British Sky Broadcasting Group plc ("BSkyB") following a trade mark dispute with Microsoft Corporation ("Microsoft") over Microsoft's "SkyDrive" online storage facility.

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Vestergaard – guarding trade secrets

Published on 29 July 2013. By David Cran, Partner and Louise Morgan, Senior Associate

The Supreme Court has ruled, in the final stage of this case, that an ex-employee could not have misused confidential information if she did not know about (i) the confidential information; and (ii) the fact of its misuse.

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FCA remains committed to the reduction of financial crime

26 July 2013

In the first anti-money laundering annual report published by the FCA yesterday, the FCA has concluded that the level of anti-money laundering compliance in financial services firms is a "serious concern".

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SDLT avoidance - HMRC victorious regardless of taxpayer 'motive'

Published on 26 July 2013. By Ben Roberts, Senior Associate

HMRC has scored a resounding victory in the first case[1] to consider in any detail the wide-ranging SDLT anti-avoidance provision (section 75A of Finance Act 2003).

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Competition Commission releases proposed remedies on the supply of statutory audit services

25 July 2013

Earlier this week the Competition Commission ("CC") published its provisional decision on the remedies it is considering introducing when it publishes its final report on the supply of statutory audit services to large companies in the UK.

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Government signals the dawning of a new regulatory era – whilst providing a damning indictment of the current regime

24 July 2013

The Parliamentary Commission on Banking Standards has proposed to bring about significant change in the banking sector.

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The new UK GAAR – a journey into the unknown?

Published on 24 July 2013. By Ben Roberts, Senior Associate

The Finance Bill 2013 received Royal Assent on 17 July. We are now in uncharted territory.

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The FCA – a "very different animal", that bites harder

23 July 2013

Two notable recent fines, £2.8m levied against Policy Administration Services for poor complaints handling in relation to mobile phone insurance and £7.38m levied against Swinton for aggressive selling of add-on insurance, have a key common feature.

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Blog

The FCA – a "very different animal", that bites harder

23 July 2013

Two notable recent fines, £2.8m levied against Policy Administration Services for poor complaints handling in relation to mobile phone insurance and £7.38m levied against Swinton for aggressive selling of add-on insurance, have a key common feature.

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Force India in the Court of Appeal – a winning formula?

22 July 2013

The Court of Appeal in Force India has recently provided some helpful guidance on breach of confidence in the commercial arena1.

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The English court's power to grant anti-suit injunctions in support of arbitration

Published on 19 July 2013. By Chris Ross, Partner

The Supreme Court judgment in Ust-Kamenogorsk Hydropower Plant JSC v AES Ust-Kamenogorsk Hydropower Plant LLP [2013] ...

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FCA confirms market study into general insurance 'add-ons'

19 July 2013

The nascent Financial Conduct Authority (FCA) confirmed on 9 July 2013 that it will undertake its first market study since becoming responsible for the promotion of competition in the financial services industry1.

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Register of beneficial company ownership

Published on 18 July 2013.

The "Transparency and Trust" discussion paper published by the Business Secretary Vince Cable earlier this week outlines various proposed measures to help improve corporate transparency.

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Hong Kong regulator takes second shot at Asian Tiger

Published on 18 July 2013. By David Smyth, Senior Consultant

Hong Kong's principal regulator (the Securities and Futures Commission) has confirmed that it has launched proceedings before the Market Misconduct Tribunal (MMT) against Tiger Asia Management LLC and three of its principal officers.

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High Court confirms accountant's duty to alert client to tax saving opportunity

Published on 17 July 2013. By Dan Wyatt, Senior Associate

The recent decision of Mr Justice Silber in Hossein Mehjoo v Harben Barker (A Firm) and Harben Barker Limited[1] has attracted a great deal of publicity in both professional journals and the general press as it considers the important issue of an accountant's duty to his client in the context of tax mitigation opportunities.

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Proposals to increase claims against directors

Published on 16 July 2013. By Ben Gold, Legal Director

We note with interest the Government's Discussion Paper, 'Transparency & Trust: Enhancing The Transparency of UK Company Ownership And Increasing Trust in UK Business', published yesterday.

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HMRC's approach to statutory interpretation – literally, if convenient!

12 July 2013

There is a growing body of recent case law in which HMRC have favoured a literal approach to statutory interpretation, as opposed to the usual purposive approach they adopt when challenging what they consider to be 'aggressive' tax avoidance schemes.

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FOS publishes first decisions naming insurers

12 July 2013

The FOS has today published 110 of its insurance (non PPI) decisions on its website.

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Insurers as lenders: what borrowers need to know

12 July 2013

Insurers are the new show in town The make-up of providers of debt secured against UK real estate has changed dramatically.

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Defining 'directorship' for director disqualification

08 July 2013

The recent High Court decision in Re UKLI Limited provides a useful summary of both the factors that the court will take into account when determining whether an individual is a shadow director or a "de facto" director and the differences between these two concepts.

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The corporate veil: Prest, but not pierced

Published on 08 July 2013. By Adam Forster, Senior Associate

The Supreme Court has recently given judgment in the case Prest (Appellant) v Petrodel Resources Limited and others (Respondents), following an appeal from the Court of Appeal.

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Taxpayer wins penalty shootout against HMRC

05 July 2013

The recent case of CED Limited v HMRC [2013] UKFTT 219 (TC) illustrates the importance of preparing thoroughly for the hearing of a tax appeal – even an apparently straightforward penalty appeal - before the First-tier Tribunal ('FTT').

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Another speech, another thematic review – this time into conflicts management

04 July 2013

The insurance sector has been informed through another speech by the FCA of plans for a potentially very important thematic review.

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Cost Budgeting – more guidance please

Published on 02 July 2013. By Rebecca Birkby, Senior Associate

Troy Foods v Manton, concerns an application for permission to appeal an approval of a costs budget.

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General insurance conduct supervision takes shape

02 July 2013

Thematic reviews are not new but, since April, the production of thematic review reports by the FCA is.

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When should a penalty be suspended?

Published on 27 June 2013. By Dan Wyatt, Senior Associate

The First-tier Tribunal ('FTT') has allowed the taxpayer's appeal in Testa v HMRC,[1] against HMRC's refusal to suspend a penalty imposed under paragraph 1, Schedule 24, Finance Act 2007...

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Regulatory rope? FCA guidance on 'super-complaints' offers firms chance to condemn themselves to a public hanging

27 June 2013

FCA Guidance published on Wednesday invites firms to make 'comprehensive and robust' reports about their own 'regular' failures where they give rise to consumer detriment and to require the FCA to publish its planned response, with a copy of the firm's original report.

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Flood risk insurance: disaster averted?

27 June 2013

In a press release co-ordinated with the Government's announcement to Parliament on 27 June 2013 on infrastructure spending ...

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Guillotine for ATE/CFA recoverability?

25 June 2013

A Law Society Gazette report emanating from a recent conference suggested that introduction of a six month time limit is under consideration by MOJ for recoverability of CFA/ATE premiums entered into prior to the 1 April cost reforms.

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Tribunal allows taxpayers' appeals against daily penalties as HMRC had failed to give proper notice

21 June 2013

The First-tier Tribunal ('FTT') has allowed the taxpayers' joined appeals in Morgan v HMRC and Donaldson v HMRC1 against daily penalties for late filing of their self-assessment returns, because HMRC had failed to give notice to the taxpayers of the date from which the daily penalties would start to accrue.

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What does crime have to do with it…?

21 June 2013

Two important recent developments touch upon a crucial issue: to what extent should misconduct or misbehaviour in the City sound in the criminal law?

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FCA winning its battle to name and shame

20 June 2013

Last week the Court of Appeal handed the FCA a significant fillip in what has become a notable goal of the regulator – to see that those subject to its disciplinary proceedings are exposed to public scrutiny.

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