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High Court dismisses investors' judicial review challenge to the legality of APNs in Rowe and Others v HMRC
The eagerly awaited judgment of the Administrative Court (Mrs Justice Simler) in Nigel Rowe and Others v HMRC[1], was handed down last Friday.
Read moreThe Scotland Bill - a soon to be taxing issue
The Scotland Bill, is currently making its way through the legislative process and many of its powers will come into force at the start of the next tax year.
Read moreLord Justice Jackson tackles Costs Management
The post-Jackson costs management regime celebrated its second birthday earlier this year.
Read moreBroker M&A – indemnity revisited
Last year, we reported on a High Court decision on the proper interpretation of an indemnity in a share sale agreement relating to an insurance broker.
Read moreHong Kong: legal advice privilege – important development for corporates
In an important judgment, the Hong Kong Court of Appeal has recently decided that legal advice privilege (often referred to as “solicitor-client” or “attorney-client” privilege) can extend to confidential internal communications between employees of a client organisation, provided those communications were created for the sole or dominant purpose of obtaining legal advice.
Read moreTransfers, exit fees and financial advice - what next for the pension freedoms?
What do exit charges, the pension transfer process and financial advice all have in common?
Read moreLimiting liability in standard terms: cause for concern?
Practitioners may wish to reconsider their approach to drafting standard terms after the High Court found that various limitation of liability clauses in standard term business-to-business contracts were unreasonable under the Unfair Contract Terms Act 1977 (UCTA)[1].
Read morePower to the Pensioners?
It has been customary in recent years for George Osborne to pull a proverbial rabbit out of his red ministerial box.
Read moreEntrepreneurs' relief not available for disposal of syndicate capacity by a Lloyd's name
In Carver v HMRC [2015] UKFTT 0168 (TC), the First-tier Tribunal (FTT), has provided helpful guidance on the key requirements of entrepreneurs' relief (ER), under section 169H, Taxation of Chargeable Gains Act 1992 (TCGA).
Read moreNo way out: a recent Supreme Court decision re-states the principles of contractual interpretation and provides a salutary reminder that the English Courts are wary of re-writing "bad bargains"
The Supreme Court's decision in Arnold v Britton provides a salutary reminder of the reluctance of the English Courts to re-write "bad bargains" even if they have catastrophic unforeseen commercial outcomes for one of the contracting parties.
Read more"That don’t distress me much …"
George Osborne's pledge to tackle the housing crisis, if acted on, should see an increase in housebuilding.
Read moreGetting Over Time
The five day working week is the norm in the professional services sector, but is it the most effective basis for structuring our time? After all, professional services do not roll off the end of a production line.
Read moreLEO intent on including Third Party Debts
Following on from my post earlier this year, it seems that LEO is set to go ahead with plans to consult on its vision of dealing with third party complaints.
Read moreWhere there's a will there's a way? The Court of Appeal awards an estranged daughter £164,000 from her mother's estate
The Court of Appeal this week handed down its hotly debated landmark decision in Ilott v Mitson & Others, causing many to query the purpose of making a will at all.
Read moreFeast your eyes on this! ASOS and Wall's collaboration a trade mark success?
Back in December 2014 Retail Therapy featured an article on the surprising collaboration between McDonalds and Moschino.
Read moreBreaking China – does the PRC market crash leave your supply chain exposed?
While European media has been in a frenzy for the last few weeks over the deal or no deal implications of a bailout of the $238bn Greek economy, rather less attention has been paid until very recently to the $10.36tn Chinese economy which has been suffering its own economic turmoil.
Read moreCourt of Appeal rules on liability of partner unaware of fiduciary breach of another partner
Court of Appeal reverses decision of lower Court to find that a partner who had been unaware of the wrongful conduct of the second partner in a business was nonetheless jointly and severally liable for the defaulting partner's liability to a third party for breach of fiduciary duty.
Read moreLate appeals: Tribunal confirms the correct approach to procedural errors in Citipost Mail v HMRC
The approach to procedural errors, such as the late filing of appeals and non-compliance with directions, has been the subject of a number of decisions over the past 18 months.
Read moreIncompetence as a defence? Stick to what you know!
Branching out into an unknown area of law as a favour to one of your well-respected clients may seem like a natural extension to the "all-round client service" that you are accustomed to providing.
Read moreReferendum – what's in it for EU?
The referendum question is quite simple – "should the UK remain a member of the EU"?
Read moreADR Directive: the key changes to the DISP rules
The Financial Ombudsman Service (FOS) has amended the Dispute Resolution: Complaints sourcebook (DISP) in the FCA Handbook.
Read moreHong Kong courts clarify personal data concerns in civil litigation
In a series of cases in Hong Kong in the last year or so, the courts have brought some welcome clarification to the vexed issue of the interaction between disclosure of relevant documents in civil disputes and balancing competing confidentiality and personal data concerns arising out of the contents of such documents.
Read morePrivate Copying Exception is deemed unlawful
In October 2014, the eagerly anticipated copyright exceptions came into force via a series of amendments to the Copyright Designs and Patents Act 1988.
Read morePlay nicely, children
Litigation is, by its very nature, an adversarial process. But as the court has made clear in the case of Simon Gotch & Susan Linda Gotch v Enelco Limited , litigants should also co-operate, to ensure the swift and cost-effective resolution of their disputes.
Read moreTaxpayer not careless in share options case
In Alistair Norman v HMRC1, the First-tier Tribunal ("FTT") found that a taxpayer who wrongly recorded gains made after exercising a share option granted by his employer as capital, rather than income, was not "careless" for the purposes of paragraph 1(1), Schedule 24, Finance Act 2007.
Read moreNew financial super court to further enhance London's profile as a financial dispute hub
After a period of consultation, the Lord Chief Justice announced at his Mansion House speech on 8 July 2015 that a new specialist list dealing with high-value, ...
Read morePreparing for the devolution revolution
For me – and I think for all business people – the two biggest spectres cast by this year's Queen's Speech were proposed increases in national and regional devolution within the UK and the certainty of an in/out referendum on the UK's membership of the EU.
Read moreThe regulatory regime continues to inform the advisory duty in mis-selling claims
The recent case of David Anderson v Openwork Limited[1] provides an opportunity to reflect on the current approach of the courts ...
Read moreWhen is a sale contract not a sale contract?
Most people reading this article would probably say that, even if they could not define a sale contract, they would know one when they saw it.
Read moreSenior Managers Regime - How many will fall foul of the new framework?
The FCA and PRA have now published a number of documents setting out some of the final rules for a new accountability framework for individuals working in 'relevant firms' ...
Read moreNot just a question of timing – Supreme Court rules on the assessment of damages for premature cancellation
The Supreme Court has held that a party could only recover nominal damages for premature cancellation (repudiation) of a sales contract on GAFTA Form 49[1].
Read moreSummer Budget – property developments
Last week's "summer" Budget, the first by a (solely) Conservative government for nearly two decades, was full of surprises but contained relatively few specific property tax measures.
Read moreBy George! A Budget full of surprises?
Last week's "summer" Budget, the first by a (solely) Conservative government for nearly two decades, included a number of surprises.
Read moreMilton Furniture and Brit- clarifying attendance
Milton Furniture Limited v Brit Insurance
Read morePension Transfers – seeing the wood for the trees – Part 2
This is the second of two blogs addressing the issues raised in the FCA's paper on the changes to the pension transfer regulations.
Read moreUpper Tribunal considers whether alternative arguments from HMRC require permission to appeal
An interesting procedural issue was recently considered by the Upper Tribunal ("UT") in Steven Price, John Myers and James Lucas v HMRC[1].
Read moreFCA's figures for authorisation applications leave many unanswered questions
Amongst the many topics covered within the FCA's annual report there is a frustratingly short section concerned with the efforts being made to deal with all of the applications for authorisation by consumer credit firms.
Read morePension Transfers – seeing the wood for the trees – Part 1
The FCA has published changes to its regulations affecting advice on pension transfers.
Read moreElectronic disclosure – the perils of ignoring disclosure requirements
In Smailes and another v McNally and another[i] the High Court refused the claimant's application for relief from sanctions, finding the claimant's failure in respect of its disclosure obligations under the relevant provisions of the Civil Procedure Rules (CPR 31) amounted to a significant and serious breach of an "unless order".
Read moreGCs – are you future-proofing your business?
In the last two blogs I looked at the Mass of Ambiguous legislation that is coming towards us as a result of the Queen's Speech and some of the Opportunities that these present for the GC who thinks like a Navigator and helps proactively and strategically to guide their CEO/Captain on the best route to their destination.
Read moreHigh Court finds "without prejudice" communications with a regulator can be withheld in civil proceedings, but decides bank had lost right to do so
In the latest instalment of the LIBOR swaps proceedings in Property Alliance Group Ltd v The Royal Bank of Scotland plc[1], the court has held for the first time that 'without prejudice' communications with a regulator can be withheld in civil proceedings.
Read moreNowhere to hide: Supreme Court considers illegality defence and global application of Insolvency Act 1986 in VAT fraud case
On 22 April 2015 the Supreme Court handed down its judgment in the case of Jetivia SA and another v Bilta (UK) Ltd (in liquidation) and others [2015] UKSC 23, which was heard in October last year.
Read morePrivacy rights when you don’t expect them - the case of JR38
Yesterday, the Supreme Court unanimously dismissed an appeal by an Appellant involved in rioting in Derry in 2014.
Read moreBeyond the headlines some positive developments for depositors
The PRA has today announced the existing level of deposit protection (£85,000) will be reduced to £75,000 after 31 December 2015.
Read moreHigh Court refuses to grant anti-suit injunction restraining insolvency proceedings in Denmark
In SwissMarine Corporation Ltd v OW Supply & Trading[1], the High Court refused to grant an anti-suit injunction restraining Danish insolvency proceedings.
Read moreIf you insist… a review of the FCA's position on insistent clients
On 8 June, the FCA published a fact sheet intended to provide a 'helpful reminder' of its position on 'insistent clients' (the full title being: Fact sheet 035. Pension reforms and insistent clients).
Read moreQueen's Speech – navigating the opportunities for GCs
In the first blog in this series of three I commented on the mass of ambiguous law that is coming towards us over the next five years of this parliamentary term.
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