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GMAC's strategy for limiting VAT payments proved lawful in ECJ

Published on 16 October 2014. By Robert Waterson, Partner

The following is taken from an article by Robert Waterson and Nigel Brook, originally published in International Tax Review (12 September 2014).

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FOS is not unfair; it just doesn't apply the law

16 October 2014

The new CEO of FOS, Caroline Wayman, gave evidence to the Treasury Select Committee yesterday, including (reportedly) in response to a poll that revealed 58% of advisers considered FOS unfair in its decisions on financial advice.

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Content Clergy, Satisfied Solicitors, and Bitter Barmen

Published on 15 October 2014. By William Jones, Senior Associate

A recent study by the Cabinet Office has found that the Solicitors' profession is the 44th most content in the UK*. We will all be pleased to hear that accountants trail behind at 45th.

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Content Clergy, Satisfied Solicitors, and Bitter Barmen

Published on 15 October 2014. By William Jones, Senior Associate

A recent study by the Cabinet Office has found that the Solicitors' profession is the 44th most content in the UK*. We will all be pleased to hear that accountants trail behind at 45th.

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The importance of commercial considerations in contractual construction

Published on 13 October 2014. By Chris Ross, Partner

The principles governing contractual interpretation under English law are reasonably well-established.

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Don't (Calder) bank on an analogy to the Part 36 regime

Published on 10 October 2014. By Laura Stocks, Senior Associate

When a party makes a Part 36 Offer, the consequences are clear. The rules and sanctions for failure to beat a Part 36 Offer are set out in the Civil Procedure Rules.

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Market Misconduct Tribunal gives Tiger Asia the "cold shoulder"

Published on 10 October 2014. By Jonathan Cary, Partner

Hong Kong's Market Misconduct Tribunal (the MMT) has banned Tiger Asia Management LLC (a hedge fund based in New York) and one of its principal officers from dealing in Hong Kong securities for four (of a maximum five) years.

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HMRC lose employment status case

Published on 09 October 2014. By Kristiana Reynolds, Senior Associate

In the recent case of EMS (Independent Accident Management Services) Limited v HMRC [2014] UKFTT 891 (TC), the First-tier Tribunal (Tax Chamber) ("FTT"), found in favour of the taxpayer on the question of whether or not an employment relationship existed.

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New UK Procurement Rules Published for Consultation

Published on 09 October 2014. By Mark Crichard, Partner

Draft new Public Contracts Regulations 2015 and a Consultation Document on UK Transposition of the new EU Procurement Directives have recently been published by the Cabinet Office. This paves the way for the 2014 Directives to be implemented in the UK early next year.

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FCA COMPLETES THEMATIC REVIEW OF MOBILE BANKING AND PAYMENTS

Published on 07 October 2014. By Mark Crichard, Partner

The Financial Conduct Authority (FCA) has recently published its findings following its thematic review of mobile banking and payments.

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No loss of confidence – causation in confidential information claims

Published on 07 October 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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Leveling the playing field - SFC conclusions on professional investor regime and client agreements

Published on 03 October 2014. By Jonathan Cary, Partner

Despite the ongoing political noise coming out of Hong Kong, commercial life and the operation of the financial markets continue unabated.

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Unlimited leave = unlimited productivity?

02 October 2014

‘We should focus on what people get done, not on how many hours or days worked. Just as we don’t have a nine-to-five policy, we don’t need a vacation policy.’

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Unlimited leave = unlimited productivity?

02 October 2014

‘We should focus on what people get done, not on how many hours or days worked. Just as we don’t have a nine-to-five policy, we don’t need a vacation policy.’

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Blog

Tribunal allows taxpayer to make a late appeal and rejects HMRC's overly formalistic approach

01 October 2014

In Chirag Patel v HMRC[1] the First-tier Tribunal ('FTT') decided that a letter from the taxpayer's accountant constituted a late appeal against a discovery assessment, despite it not being expressed as such.

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EU Consultation on Cloud Computing and Software

Published on 30 September 2014. By Mark Crichard, Partner

The EU has opened a public consultation to help define future research priorities in the areas of Cloud Computing and Software (including Open Source). Any and all stakeholders are invited to submit their views by 10 October 2014.

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Ammunition for Defendants: Claimants may have to waive privilege to prove mitigation

30 September 2014

The High Court recently found in a solicitors negligence claim that a claimant acted unreasonably in (1) settling an arbitration and then (2) refusing to waive privilege such that the Court could assess the reasonableness of the settlement.

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Brand & Khan obtain continuing "anti-harassment" order against masseuse

Published on 29 September 2014. By Oliver Murphy, Associate

The High Court has recently granted an extension to an anti-harassment injunction taken out by Russell Brand and Jemima Goldsmith, otherwise known as Jemima Khan (the Claimants), against a masseuse (the Defendant).

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SRA's compensation fund to provide cover for negligence claims against uninsured firms

Published on 29 September 2014. By Philip McCormack, Associate

A recent article in Legal Futures suggests that it will cost contributors to the SRA's compensation fund £2.5m in the 2014/15 year in order to cover negligence claims against uninsured firms following the ARP's closure last September.

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Is no news always good news? Drop in complaints may hint at conclusions from over-due FCA complaints review

26 September 2014

The FCA's latest publication of complaints data has revealed a decrease of 5% in the overall number of complaints.

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Root and branch changes to EU VAT rules on intra-entity supplies?

Published on 25 September 2014. By Ben Roberts, Senior Associate

The European Court of Justice (ECJ) last week ruled that services provided by a US insurer to its Swedish branch were subject to VAT in Sweden. This widely reported decision is likely to have implications for insurers and other financial services groups across Europe.

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CMA brings car competition probe to conclusion

25 September 2014

The Competition and Markets Authority (CMA) – the UK's leading consumer and competition authority – yesterday published measures which it expects will increase competition and reduce premiums in the car insurance market.

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Tax Tribunal has no jurisdiction to consider public law issues in direct tax appeal

Published on 24 September 2014. By Adam Craggs, Partner

The following is taken from an article by Adam Craggs, originally published in Tax Journal

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Crime and privilege

Published on 23 September 2014. By Davina Given, Partner

Under English law, legal professional privilege permits a civil litigant or a defendant in criminal proceedings to withhold from the other side documents subject to the privilege.

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Brokers' Duties – Business Interruption

Published on 23 September 2014. By Ben Goodier, Partner

Whilst not exactly a reason for brokers to jump for joy, the recent case of Eurokey Recycling Limited v Giles Insurance Brokers Limited has at least reversed the trend of brokers' duties becoming more onerous with each reported case.

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Supreme Court clarifies continuing police disclosure obligations

Published on 19 September 2014.

The recent Supreme Court judgment in the case of R (on the application of Nunn) v Chief Constable of Suffolk Constabulary and another sheds further light on the continuing duty of the police and the Crown Prosecution Service to disclose information in criminal cases post-conviction.

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Supreme Court: Insurers counting the costs of negligent will drafting

19 September 2014

Insurers beware: where limited funds are available in an estate and there has been a dispute caused by solicitor negligence over a will then the usual 'loser pays' rule may not apply...

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SIPPs: FCA announces new capital framework

18 September 2014

SIPP Operators will be forced to hold an extra £18m in reserve capital under new rules outlined by the FCA last month.

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Claim for entrepreneurs' relief succeeds: Tribunal finds that the removal from the payroll did not end taxpayer's employment

17 September 2014

The First-tier Tribunal (Tax Chamber) (FTT) has decided in Corbett v HMRC[1] that removing a taxpayer from a company's payroll before a sale of that company did not end her employment for the purposes of claiming entrepreneur's relief.

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Turning the clock back

Published on 15 September 2014. By Alan Williams, Partner

A recent Court of Appeal decision[1] in a pensions' dispute provides a reminder of circumstances in which the English courts will allow a statement of case to be amended to bring a new claim which would otherwise be time barred.

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Slapdash SIPPs told to sharpen up by FCA

15 September 2014

SIPP Operators have repeatedly been in the headlines since the FCA completed its second thematic review in 2012.

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Slapdash SIPPs told to sharpen up by FCA

15 September 2014

SIPP Operators have repeatedly been in the headlines since the FCA completed its second thematic review in 2012.

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Tribunal rejects Ramsay argument and allows taxpayer's appeal in corporate bond case

12 September 2014

In Hancock & Hancock v HMRC[1] the First-tier Tribunal (FTT) has upheld the taxpayer's appeal against HMRC's decision ...

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Legal Lasers

12 September 2014

Building Information Modelling (BIM) is quickly becoming recognised as the future of design, construction and facilities management for new build projects. But what about existing buildings?

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Bank backs another winner in interest rate swaps saga – but is it luck or judgement?

11 September 2014

Despite their costly on-going review work and redress exercises, banks that sold interest rate swaps are still facing parallel court claims.

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Good or bad news on the flood insurance front?

11 September 2014

Increasingly severe flood events, climate change, new housing in flood plains, inadequate government spending on flood defences – these all point to increasing risk of flooding for more and more properties.

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Dividends under Solvency II

11 September 2014

As you will be aware, Solvency II will impose requirements as to the quality of the capital held by a firm. Core tier 1 capital is the best, and will typically be made up by ordinary share capital.

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No reason to delay October 2014 renewal for solicitors

Published on 09 September 2014. By Tina Campbell, Senior Associate

This is traditionally a busy time of year for insurers, brokers and law firms in the run up to the 1 October deadline for securing professional indemnity insurance cover.

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The Insolvency Service Complaints Gateway – first year report card

Published on 08 September 2014. By Rachael Healey, Partner

In June 2013 the Complaints Gateway was established to provide a single entry point for regulatory complaints against insolvency practitioners.

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Tribunal bars HMRC from taking further part in appeal

04 September 2014

In BPP University College of Professional Studies v HMRC[1]the First-tier Tribunal (Tax Chamber) (FTT) found that HMRC had failed to comply with an 'unless' order under Rule 8(3) of the Tribunal Procedure (First-tier Tribunal) (Tax Chamber) Rules 2009 (the Rules).

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Credit where credit's due

Published on 29 August 2014. By Tom Lloyd, Senior Associate

The controversy surrounding payday loans looks set to continue as the FOS has issued a warning to consumers about payday loan middlemen.

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No tax please, we're British – Culture test for video games tax relief comes into force

Published on 29 August 2014. By David Cran, Partner

On 19 August 2014, regulations to determine a video game as "British" for the purposes of corporation tax relief for video games development came into force.

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FOS respondents still at risk of further action despite Clark v In Focus ruling

28 August 2014

When Lady Justice Arden handed down her judgment in the Court of Appeal case of Clark v In Focus ...

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First-tier Tribunal holds that there is no taxable supply where there is no obligation on a subsidiary company which was receiving subsidiary services from the Group parent

27 August 2014

In Norseman Gold plc v HMRC[1] the First-tier Tribunal (Judge Colin Bishopp) ("FTT") dismissed an appeal by Norseman Gold plc ("Norseman") ...

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The perils of skiing, reduced bonuses and missed deadlines

26 August 2014

The High Court has recently revisited how loss of chance damages will be quantified in professional negligence claims.

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Denton v White guidance applied

26 August 2014

In little more than a month since the Court of Appeal handed down its judgment ...

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Ensuring that where there's a Will, the right way is adopted – and by the right person

26 August 2014

The Law Society Gazette has recently reported that claims for mishandling a deceased's estate have more than tripled over the last year, according to figures released by the High Court.

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Permission refused to use disclosed documents in foreign proceedings

Published on 22 August 2014. By Laura Martin, Senior Associate

At the end of June the SFO announced that it had settled claims brought by Vincent Tchenguiz arising from the manner in which his alleged involvement in the collapse of the Icelandic bank Kaupthing hf. was investigated by the SFO.

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Over EUR760 million worth of product seized by EU customs authorities in 2013

Published on 22 August 2014. By David Cran, Partner

According to the "Report on EU customs enforcement of intellectual property rights – Results at the EU border 2013", customs authorities in 2013 opened approximately 87,000 detention cases in respect of 36 million articles, accounting for a domestic retail value of more than €760 million.

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Toasted sandwiches are standard-rated “hot food” for VAT purposes

21 August 2014

In Sub One Ltd (t/a Subway) v HMRC[1] the Court of Appeal has upheld the decisions of both the First-tier Tribunal (FTT) and the Upper Tribunal (UT) that toasted sandwiches and "meatball marinara" are "hot food" and therefore, for VAT purposes, amount to standard-rated supplies. This decision has implications for a number of fast food outlets.

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