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Our latest legal 'Snapshot' updates are now available

Published on 06 September 2018. By Alyson Lloyd, Senior Associate and Jonathan Greenway, Associate

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Each Snapshot focuses on the key questions: What's the development? Why does it matter? And what should you be doing about it? In this blog post we have handpicked the ones which matter most to you as retailers.

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Tax update September 2018

06 September 2018

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In this month’s update we report on HMRC’s updated position regarding payment of the April 2019 “loan charge”, HMRC’s updated guidance on the targeted anti-avoidance rule for close company distributions on a winding up and the CIOT’s comments on off-payroll working in the private sector. We also comment on recent decisions relating to, late filing penalties, an application by HMRC to amend its Statement of Case and tax geared penalties for failure to comply with information notices.

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Blog

Breaking news – a victory for privilege

Published on 05 September 2018. By Davina Given, Partner and Jonathan Cary, Partner and Alan Williams, Partner and Lucy Kerr, Senior Associate

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Today the Court of Appeal handed down its eagerly anticipated judgment in the appeal of Andrews J's controversial High Court decision in Serious Fraud Office v Eurasian Natural Resources Corporation.

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ISDA agreement wins jurisdiction clause battle in Court of Appeal

Published on 04 September 2018. By Parham Kouchikali, Partner and Christopher Whitehouse, Senior Associate

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The Court of Appeal recently confirmed that an English jurisdiction clause in the underlying International Swaps and Derivatives Association Master Agreement under which certain swaps were made should be applied to disputes relating to the swap transactions, rather than an Italian jurisdiction clause in a competitor agreement governing the parties' generic relationship

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Corporate tax update

Published on 31 August 2018. By Ben Roberts, Senior Associate and Adam Craggs, Partner and Robert Waterson, Partner

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Welcome to the latest edition of our Corporate Tax Update, written by members of RPC’s tax team and published quarterly. In this second 2018 edition we highlight some of the key tax developments of interest to UK corporates from the second quarter of 2018.

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Pertemps: Expenses salary sacrifice scheme not an economic activity for VAT purposes

Published on 31 August 2018. By Alexis Armitage, Associate

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In Pertemps Limited v HMRC [2018] UKFTT 0369 (TC), the First-tier Tribunal (FTT) has held that a salary sacrifice scheme providing travel and subsistence expenses to employees was not an economic activity for VAT purposes.

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Publication

Product liability update August 2018

30 August 2018

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A round-up of key stories making the news, from the Potential impact of US litigation in the UK to a case involving injuries arising from caustic soda.

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Fake news is bad news for patients

Published on 30 August 2018. By Peter Rudd-Clarke, Legal Director

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Gee v DePuy International Limited shows that fake news in the healthcare sector is bad news for the public

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VAT update August 2018

29 August 2018

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In this month’s update we report on HMRC’s revised guidance on the VAT cost share exemption, HMRC’s consultation and plans to address VAT avoidance via offshore looping, and making tax digital for VAT.

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Blog

The Retail empire strikes back

Published on 29 August 2018. By Alex Farrow, Associate

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Like Rocky in Rocky I, II, III, IV, V and "Rocky Balboa" (yes, there were really that many) the retail sector has taken a bit of a battering of late. However, like any prize fighter, the industry could be on the verge of another evolution and fighting back. The general perception is that traditional bricks and mortar retailers have struggled, those with a strong online offering have fared better, but retailers that have fared best are those dominating the online retail space. With so many traditional stores and household names in trouble, why are businesses still investing in physical stores?

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Customs and excise quarterly update August 2018

Published on 29 August 2018. By Adam Craggs, Partner and Michelle Sloane, Senior Associate

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In this update we report on changes to gaming duty accounting periods, HMRC’s policy paper on tobacco duty on heated tobacco and an amendment to the Export (Penalty) Regulations 2003. We also comment on three recent cases relating to the customs classification of Beyblades, excise duty assessment time limits and restoration of seized tobacco.

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Blog

How long does your collateral warranty last?

29 August 2018

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The Technology and Construction Court's recent judgment will be of interest to all those in the industry who either provide or receive collateral warranties.

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Blog

Football club's entire agreement clause performs impressive save against negligent misrepresentation claim

Published on 28 August 2018. By Geraldine Elliott, Partner

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A recent case(1) serves as a lesson that context is key to a watertight entire agreement clause.

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Blog

J P Whitter - HMRC not obliged to consider impact of cancellation of Gross Payment Status on business

Published on 23 August 2018. By Constantine Christofi, Associate

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In J P Whitter (Water Well Engineers) Ltd v HMRC [2018] UKSC 31, the Supreme Court has confirmed the view of the Court of Appeal that HMRC has the power to remove 'Gross Payment Status' from sub-contractors under the Construction Industry Scheme, without an obligation to take into account the impact on the tax-paying business.

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Blog

<連載コラム・欧州M&A最前線>2018年6月

Published on 23 August 2018. By Nigel Collins, Partner, Head of Japan Desk

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サッカーのワールドカップ(W杯)で、イングランドと日本が共に見事な活躍を見せ、熱い感動を与えてくれた後、ロンドンで夏のきらめきを楽しんでいる。「もしあのとき…」という思いが胸を過ぎる。日本が後半戦の最後の10秒に、ベルギーを振り切っていたら。イングランドが前半で、クロアチアから奪った得点を守っていたら。日本の会社に例えるならば、千載一遇のチャンスを逃さないことが、ビジネスを成功に導くのだと思う。

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Blog

Non-party access to documents on court file: normal service resumes

Published on 22 August 2018. By Davina Given, Partner

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A master's decision to allow a non-party to proceedings to access a wide range of documents in the proceedings was reviewed by the Court of Appeal in Cape Intermediate Holdings Ltd v Dring (Asbestos Victims Support Group).(1) In its judgment, the court provided helpful guidance on the principles that should be applied when deciding whether to allow such an application.

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Blog

Groves – Tribunal confirms that a notice to file must be given by an identified HMRC officer

Published on 22 August 2018. By Alexis Armitage, Associate

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In Groves v HMRC [2018] UKFTT 0311 (TC), the First-tier Tribunal (FTT) has allowed the taxpayer's appeal against penalties issued by HMRC pursuant to Schedule 55, Finance Act 2009, for the late filing of a tax return as the notice to file was not signed by an "Officer of the Board" and in any event, the notice was invalid as it was not given by HMRC for the purpose(s) set out in section 8, Taxes Management Act 1970 (TMA) and therefore any penalties issued for late filing of the return were invalid.

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The latest results, threats & opportunities for insurers

Published on 22 August 2018. By Richard Breavington, Partner

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Partner Richard Breavington shares his views on the challenges for insurers in a post-GDPR world, the most valuable changes in technology for insurers and the most exciting thing about the world of InsurTech.

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Publication

Wealth and trusts quarterly digest

Published on 21 August 2018. By Adam Craggs, Partner

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Welcome to our latest Wealth & Trusts digest. Our quarterly digest is specifically tailored for you and aims to provide up to date commentary, analysis and guidance on key sector developments. It is written by our wealth and trusts teams to assist you and your clients in responding to market trends and legal developments. We would welcome the opportunity to discuss any issues you may have and always welcome feedback on the content of our publications.

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Pension watchdogs launch joint advertising campaign to warn against scammer tactics

Published on 20 August 2018. By Sarah Dowding, Senior Associate

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The Financial Conduct Authority and The Pensions Regulator have launched a joint TV advertising campaign to raise awareness about pension scams and the common tactics deployed by fraudsters.

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Blog

The W&I tool in M&A

Published on 20 August 2018. By Neil Brown, Partner and Joy Tickler, Associate

Neil Brown and Joy Tickler highlight the increasing use of warranty and indemnity insurance by M&A negotiators. Its use has rapidly increased over the past few years, becoming a strategic tool in the toolbox of any M&A negotiator. We set out here the reasons behind this ever-increasing trend, together with some of our observations on how W&I has been effectively deployed.

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Blog

Letters of Credit under commodity contracts – keep the focus

17 August 2018

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This blog takes a look at the issues concerning the timing of the provision of letters of credit under commodity contracts and the importance, from both the buyer's and seller's perspective, of keeping an "eye on the ball".

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Dr Bawa-Garba wins appeal against strike off

Published on 17 August 2018. By Genevieve Isherwood, Associate

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On Monday, the Court of Appeal unanimously found in Dr Bawa Garba's favour meaning she now is able to seek work as a Junior Doctor.

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Has Instagram made it cool to be sensible?

Published on 15 August 2018. By Samantha Thompson, Associate

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Recent studies suggest that teenage rebellion is a thing of the past. The post-millennial age group, a.k.a. 'Generation Sensible', is apparently more interested in studying and family-time than ever before. Social media has been cited as a contributing factor, as it reduces the need for face-to-face contact between friends. But has it had a more active role in this behavioural shift?

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Blog

A variation on a theme of settlement

Published on 14 August 2018. By Davina Given, Partner and Parham Kouchikali, Partner

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In this unusual case, the Court was asked to determine a dispute regarding the settlement of a debt alleged to be owed to the Claimant following a sale at Sotheby's of various Persian antiquities. The case will be of interest to practitioners in its examination of the circumstances in which a party is able to discharge its liability under a settlement agreement through the payment of a lesser sum than that originally agreed. The judgment also provides a valuable insight into the antiquities world, and its comments on the close community in which the parties operated are particularly pertinent for those in the art arena who are considering embarking upon litigation.

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Blog

Update: Automated and Electric Vehicles Act 2018

Published on 10 August 2018. By Richard Breavington, Partner and Sarah Hill, Legal Director

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New legislation relating to automated vehicles clarifies liability issues and insurance coverage, and adds provisions relating to electric vehicles.

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Blog

Trustees of defined benefit schemes – are they on the hook for pension transfers? Yes says the Pension Ombudsman

Published on 09 August 2018. By Rachael Healey, Partner

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The Pension Ombudsman has upheld a complaint against the trustees of a defined benefit scheme for failing to warn of the risks of a transfer to a pension liberation scheme. The Pension Ombudsman found that had the trustees provided documentation recommended under guidance from the Pension Regulator and identified and warned the member of certain hallmarks of a pension liberation scheme, the member would not have transferred his pension. The Pension Ombudsman has directed the trustees to reinstate the complainant's pension in the defined benefit scheme and pay £1,000 in distress and inconvenience.

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Publication

General liability newsletter July 2018

Published on 09 August 2018. By Gavin Reese, Partner and Jonathan Drake, Senior Associate and Nick McMahon, Head of Health and Safety

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The latest general liability news coming out of the courts.

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Bradshaw – Tribunal confirms ignorance of the law is a reasonable excuse and cancels  penalties

Published on 09 August 2018. By Michelle Sloane, Senior Associate

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In A and R Bradshaw v HMRC [2018] UKFTT 0368 (TC), the First-tier Tribunal (FTT) has held that a taxpayer's ignorance of the law is a reasonable excuse in relation to the late filing of a non-resident CGT return (NRCGT return).

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Blog

EIOPA Report on Cyber Insurance raises awareness and understanding of cyber risk in the European market

Published on 08 August 2018. By Anthony Cutler, Associate and Bethan Griffiths, Associate

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The European Insurance and Occupational Pensions Authority ("EIOPA") has published a report "Understanding Cyber Insurance – A Structured Dialogue with Insurance Companies", which heralds its first attempt to enhance understanding of cyber risk with a focus on the European market.

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Blog

Important issues relating to effect and interpretation of non-assignment clauses

Published on 07 August 2018. By Simon Hart, Partner and Sarah Shaul, Associate

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Service by text and data room, worldwide freezing orders against persons unknown, self-identification orders and hearings on paper and in private are ways the court is dealing with cyber-crime. Here are five ways that the courts are addressing the imbalance that exists between victims and criminals who seek to hide behind a veil of anonymity in this digital age.

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Blog

Shaw: Tribunal cancels penalties … again!

Published on 06 August 2018. By Constantine Christofi, Associate

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In Shaw v HMRC [2018] UKFTT 0381 (TC), the First-tier Tribunal (FTT) has cancelled late filing penalties because HMRC had not satisfied the statutory requirements of section 8(1), Taxes Management Act 1970 (TMA) as a notice to file had not been validly served on the appellant.

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Blog

Adjudication and liquidation – the final word?

03 August 2018

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It is generally the case (though not always!) that courts are reluctant to enforce monetary award adjudication decisions in favour of companies in liquidation (CILs). This is because of the uncertainty surrounding the CIL’s ability to repay those sums should it later transpire it was not entitled to the award.

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Online Prescriptions or Real Life Addictions?

Published on 02 August 2018. By Natalie Drew, Senior Associate

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With the rules around online prescribing set to be strengthened, we consider why these changes have come about, and what it might mean for patients and prescribers.

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Blog

US talc litigation has important lessons for UK insurers

Published on 02 August 2018. By Peter Rudd-Clarke, Legal Director and Nick McMahon, Head of Health and Safety

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Although it is unlikely litigation involving household staples such as talcum powder could succeed in the UK, the ongoing US litigation underlines a significant trend in product liability exposures.

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Tax update August 2018

Published on 01 August 2018. By Adam Craggs, Partner

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In this month’s update we report on the summary of responses to HMRC’s consultation on extending time limits for offshore non-compliance, HMRC’s policy paper on “profit-fragmentation” and HMRC’s consultation on proposals for new civil information gathering powers for HMRC.

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Blog

New rules for peer-to-peer lending announced by FCA

Published on 01 August 2018. By Ashley Daniells, Associate

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The popularity of peer-to-peer (P2P) lending has increased exponentially in recent years, with nearly £10 billion being transferred through such platforms in the past ten years. In an attempt to fix "increasingly complex business structures", the FCA has announced new plans for new rules for peer-to-peer (P2P) lending.

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Blog

Tager – Court of Appeal allows taxpayers' appeals and reduces penalties for failure to comply with information notices

Published on 31 July 2018. By Robert Waterson, Partner

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In Tager & Ors v HMRC [2018] EWCA Civ 1727, in allowing the taxpayers' appeals, the Court of Appeal has provided some general observations on the scope and purpose of HMRC's power to impose tax-related penalties under paragraph 50, Schedule 36, Finance Act 2008 for failures to comply with information notices issued under paragraph 1, Schedule 36, Finance Act 2008.

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Blog

Online resale price maintenance and pricing software under scrutiny

Published on 30 July 2018. By Lambros Kilaniotis, Partner and Melanie Musgrave, Senior Associate

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The imposition of fixed or minimum prices on their online retailers, in breach of EU competition law, has resulted in four consumer electronics manufacturers being fined over €111 million in total by the European Commission.

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Construction newsletter July 2018

30 July 2018

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What challenges does the construction industry face and what does the future hold?

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RPC Retail Compass 2018 Summer Edition

Published on 27 July 2018. By Nigel Collins, Partner, Head of Japan Desk

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Legal and policy changes affecting retail.

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Blog

Good news for UK share sellers - capital gains tax relief relaxed

Published on 27 July 2018. By Ben Roberts, Senior Associate and Nigel Collins, Partner, Head of Japan Desk

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The UK's entrepreneurs' relief (ER), which is already a valuable tax relief for individual UK-resident sellers of trading companies, is about to become a little more generous.

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Blog

Investing to Innovate

Published on 26 July 2018. By Mark Crichard, Partner and Alyson Lloyd, Senior Associate

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Ocado aims to "change the way the world shops" with B2B technology offerings for retailers

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VAT update July 2018

25 July 2018

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In this month’s update we report on the alignment of the period for recovery of VAT by exempt public sector entities; new guidance concerning VAT liability on goods supplied on approval; and HMRC’s policy paper on a new regime for interest and penalties.

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Significant increases to District Court's monetary jurisdiction

Published on 25 July 2018. By Michael Maguiness, Of Counsel

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Significant increases to the jurisdictional limits for civil claims in the District Court have been proposed.

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Blog

Micro-investing: from small acorns…

25 July 2018

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With the number of card payments overtaking cash for the first time, spare a thought for the piggy-banks of the nation. Where once they were full to the brim with coppers, they now lie forgotten and unused. So what are people now doing with their spare change? Not investing, it would seem…

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Blog

Allpay - Tribunal refuses HMRC permission to amend its Statement of Case and awards costs to the taxpayer

Published on 23 July 2018. By Michelle Sloane, Senior Associate

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In Allpay Ltd v HMRC [2018] UKFTT 0273 (TC), the First-tier Tribunal (FTT) has dismissed HMRC's application to amend its Statement of Case to plead a new legal issue.

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Is a "Duty of Care" required for financial services firms?

23 July 2018

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On 17 July 2018, the Financial Conduct Authority (FCA) released DP18/5 – its discussion paper on a duty of care and potential alternative approaches. In this article we summarise the discussion paper and then examine briefly whether a new duty is required.

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Financial litigation roundup - Summer 2018 edition

20 July 2018

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Welcome to the latest edition of our financial litigation roundup. In this edition, we consider recent judgments and ongoing cases from the banking and financial world in the UK and Hong Kong, as well as legal developments across those jurisdictions.

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Non-residents and UK property

19 July 2018

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Non-UK residents owning UK real estate, whether directly or via companies, partnerships, trust arrangements or collective investment vehicles, should be aware of important UK tax changes due to take effect from April 2019.

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