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Taxpayer succeeds in his application for judicial review of HMRC's decision not to return overpaid income tax

16 April 2015

In R (on the application of Andrew Michael Higgs) v HMRC [2015] UKUT 0092 (TCC), the Upper Tribunal ("UT"), exercising its jurisdiction to consider judicial review proceedings, has granted relief in favour of a taxpayer in a dispute in which HMRC refused to repay overpaid income tax.

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Blog

Oxford solicitor receives biggest SDT fine yet

Published on 14 April 2015. By Aimee Talbot, Associate

Former solicitor Nigel Harvie has been ordered to pay £305,000 by the Solicitors Disciplinary Tribunal ("SDT") – the biggest fine (by a long way) ever imposed by the tribunal.

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Blog

Watch where you work

Published on 13 April 2015. By Genevieve Isherwood, Associate

Recently, I attended a law fair on behalf of RPC and was asked an interesting question.

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Blog

Fraud Alert 3 – a new weapon

Published on 09 April 2015. By Jonathan Wyles, Legal Director

In July 2014 and February 2015 we warned about fraudsters targeting law firms client accounts, especially on Friday afternoons.

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Blog

Upper Tribunal imposes penalty in excess of £1 million on QC for failure to comply with information notices

Published on 08 April 2015. By Adam Craggs, Partner

In HMRC v Romie Tager [2015] UKUT 0040 (TCC), the Upper Tribunal (Judge Colin Bishopp) ("UT"), has considered tax related penalties under paragraph 50, Schedule 36, Finance Act 2008, for failure to comply with an information notice.

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Blog

Key Reforms to CPR Part 36

Published on 08 April 2015. By Tina Campbell, Senior Associate

Part 36 is a crucial tool in litigation. Most claims end in a settlement and the incentives and penalties within Part 36 help to encourage parties to make/accept sensible offers.

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Blog

Have the pension reforms lived up to eggs-pectations?

Published on 08 April 2015. By Lucy Joyce, Senior Associate

It was widely reported that this Easter anyone over the age of 55 would be considering their nest eggs, rather than chocolate ones, in the wake of the new pension reforms which came into force on Monday.

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Blog

Firms in danger where data breach causes distress

07 April 2015

Hot on the heels of the launch of the pensions wave of the FCA's ScamSmart (as discussed by Sam's post), last Sunday a Daily Mail expose revealed that private pension data is being passed on by data firms without their customers' knowledge.

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Blog

Success for successor company in tax appeal

02 April 2015

In Leekes Limited v HMRC [2015] UKFTT 0093 (TC), the First-tier Tribunal (Tax Chamber) ("FTT") has held that a taxpayer that succeeded to a trade was entitled to set carried-forward pre-succession losses ...

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Blog

New Compulsory Marine Liability Insurance Gives Shipowners and their Insurers the Blues

Published on 02 April 2015. By Iain Anderson, Partner

The Nairobi International Convention on the Removal of Wrecks 2007 comes into force later this month (18 April 2015 and 17 May 2015 for Malta and Tuvalu respectively, but 14 April 2015 for all other contracting states, including the UK).

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Blog

Friends without benefits – what happens when investments go wrong?

Published on 01 April 2015.

Investors have had something of a hard time suing financial institutions or financial advisers in Hong Kong for alleged claims sounding in breach of contract or negligence.

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Blog

Professional Indemnity insurance for financial advice: is the market broken?

Published on 01 April 2015. By Simon Laird, Global Head of Insurance

In yesterday's New Model Adviser, Mark Neale has urged advisers to put pressure on professional indemnity insurers to fix a market he has described as a 'broken reed'.

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Blog

Google v Vidal-Hall: the rise and rise of data protection rights

31 March 2015

In an important decision handed down on Friday, the Court of Appeal confirmed that misuse of private information is a tort, and that claimants may recover damages under the Data Protection Act 1998 (the "DPA") for distress without also proving pecuniary losses.

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Blog

Precarious parties and general uncertainty – will the UK election lead to EU ejection?

30 March 2015

The general election is fast approaching and once again it's causing headaches in the world of business. It's been the highlight of the political calendar since 1802, but it still manages to instil fear into the heart of every business leader. Why?

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Blog

Supreme Court clarifies the limits on contractual discretion

Published on 30 March 2015. By David Cran, Partner

A recent decision of the Supreme Court1 has confirmed that the limits on contractual discretion include a requirement to take relevant issues into account and that the discretion is not exercised irrationally.

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Blog

Extending the PRA's powers over auditors and actuaries

Published on 27 March 2015. By Davina Given, Partner

Auditors and actuaries are used to being overseen by the Financial Reporting Council (FRC).

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Blog

Pensions, pensions, and yet more pensions in the FCA's Business Plan

Published on 27 March 2015. By Rachael Healey, Partner

The FCA has published its Business Plan for 2015/2016.

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Blog

Registering the effects of the MLRs

Published on 26 March 2015. By Davina Given, Partner

A recent case is a stark reminder of the wide-reaching impacts of the Money Laundering Regulations 2007.

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Blog

Litigation meets regulation

Published on 26 March 2015. By Davina Given, Partner

In an ever more regulated world, commercial litigators need to be aware of both the risks and opportunities regulation may bring.

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Blog

Non-exclusive jurisdiction clauses in cross-border agreements

Published on 25 March 2015. By Jonathan Cary, Partner

Hong Kong courts adopt robust approach to uphold parties' contractual bargain as to their choice of forum

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Blog

Avoidance scheme effective despite HMRC's attempt to rely on Ramsay

Published on 25 March 2015. By Adam Craggs, Partner

In Gemsupa Limited and Consolidated Property Wilmslow Limited v HMRC [2015] UKFTT 0097 (TC) ...

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Blog

Do not-so smart pension reforms mean FCA wants pensioners to be ScamSmart?

24 March 2015

Less than two weeks after Martin Wheatley's speech identifying April's 'big bang' pension reforms as "[t]he defining challenge of our time" ...

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Blog

Budget 2015 - impact on insurance

20 March 2015

George Osborne's announcement on Wednesday set out at least two areas of potential impact for the insurance industry.

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Blog

Tribunal confirms no penalty for implementing tax avoidance scheme

18 March 2015

In the recent case of Herefordshire Property Company Ltd v HMRC1, the First-tier Tribunal (Tax Chamber) ("FTT") allowed the taxpayer's appeal ...

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Blog

Supreme caution required when applying double identity rule

Published on 17 March 2015. By Jeremy Drew, Partner and Georgia Davis, Legal Director

A recent High Court decision1 not only demonstrates the difficulty for trade mark owners in enforcing descriptive trade marks (and the risk that those trade marks may be found to be invalid) but also highlights potential pitfalls where trade marks co-exist within the same market.

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Blog

Unrealistic expectations? - FCA research highlights investors' lack of understanding of structured products

Published on 13 March 2015. By George Smith, Senior Associate

Findings published by the FCA beg the question, are firms are doing enough to ensure that customers understand structured products before investing?

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Blog

FCA prepares for Consumer Rights Act

Published on 13 March 2015. By Andrew Price, Senior Associate

The FCA last week removed much of its unfair contract terms guidance and a number of undertakings (mainly relating to the mortgage and investment sectors) from its unfair contract terms library, citing the need to update them in light of, amongst other things, the unfair contract terms provisions in the Consumer Rights Bill and the CMA's 2015 guidance consultation on those provisions.

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Blog

Hong Kong expected to introduce mandatory low-sulphur fuel regulations

12 March 2015

Many vessels currently calling to Hong Kong voluntarily burn low-sulphur fuel, in return for financial incentives under a scheme introduced by the Government in 2012.

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Blog

CMA call for information on use of online reviews

Published on 12 March 2015. By Paul Joseph, Partner and Sarah Hill, Legal Director

Online reviews: love them or hate them, there is no escape. Products, services, large multinationals, SMEs, online or offline, almost everyone is being judged these days.

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Blog

Important judgment on liquidators' ability to obtain documents

Published on 11 March 2015. By Samuel Hung, Senior Associate

In an important judgment handed down recently by the Court of First Instance in Hong Kong, ...

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Blog

Tribunal finds in favour of property developer who was not trading

11 March 2015

In Terrace Hill (Berkeley) Ltd v HMRC[1], the First-tier Tribunal ("the FTT") rejected HMRC's arguments and concluded that a property developer's activity in relation to the development of an office property was an investment rather than a trading activity and allowed its appeal.

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Blog

New Senior Managers' Regimes to kick off in early March 2016

10 March 2015

The FCA and PRA have taken their most significant step to date in the relentless pursuit of greater accountability of senior management and the promotion of good governance and culture.

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Blog

Reflex actions: Plaza BV -v- The Law Debenture Trust Corporation

Published on 10 March 2015. By Jake Hardy, Legal Director

The recent judgment of Mrs Justice Proudman in Plaza BV –v- The Law Debenture Trust Corporation1 illustrates and extends a line of authorities in which the English courts have sought to narrow the scope of the mandatory application of Article 2 of the Brussels Regulation 44/2001.

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Blog

Solicitors' responsibility for conveyancing credit risk denied by the High Court

10 March 2015

In a transaction the claimant's own counsel described as 'murky', the High Court has dismissed a negligence claim against solicitors for the alleged failure to make further enquiries regarding the solvency of the vendor:

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Blog

91 year-old activist and angry neighbour: Supreme Court looks at police retention of personal data

09 March 2015

Case report: R (Catt) v Commissioner of Police of the Metropolis and ACPO and R (T) v Commissioner of Police of the Metropolis [2015] UKSC 9

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Blog

Juncker's Utopia: a virtual Europe without borders

Published on 06 March 2015. By Jeremy Drew, Partner and Ciara Cullen, Partner

It is 2015 and the relentless appetite for consumption of content has never been greater.

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Blog

Part 36 – Make your offers early

Published on 06 March 2015. By Alexandra Anderson, Partner

A recent judgment has highlighted the importance of early timing in the making of Part 36 offers.

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Blog

Bond schemes or Bond cars?

05 March 2015

For the ultra-wealthy, the path of pursuing traditional investments is well-trodden. From stocks and shares, to bonds and real estate, there is no shortage of ways and means to play the market.

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Blog

Fashioning a market – the impact of London Fashion Week on high street retailers

05 March 2015

London Fashion Week (LFW) has closed its doors once again for another 6 months before fashion's greatest and most celebrated designers return to showcase their S/S16 collection on 18 September 2015.

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Blog

Competing agendas? How the FCA, PSR and CMA plan to work together

04 March 2015

In mid-February, the UK investment and corporate banking sector braced itself for yet another regulatory investigation, as the FCA announced its plans to launch a wholesale market study into the industry in Spring 2015.

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Blog

Tax avoidance scheme succeeds before the Upper Tribunal

Published on 04 March 2015. By Robert Waterson, Partner

In Tower Radio Limited and another v HMRC[1], the taxpayers successfully utilised a scheme which was designed to take advantage of Part 7 of the Income Tax (Earnings and Pensions) Act 2003 (ITEPA).

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Blog

ICO fines online travel insurer £175,000 for failing to keep customers’ personal information secure

Published on 03 March 2015. By Oliver Bray, Partner

The Information Commissioners Office (the “ICO”) has fined Staysure.co.uk Limited (“Staysure”), an online travel insurance company, £175,000 for its failure to comply with the seventh data protection principle, after IT security failings allowed hackers to access up to 100,000 customer financial records.

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Blog

Pensions Freedoms and the Second Line of Defence – some flesh on the bone

Published on 02 March 2015. By Rachael Healey, Partner

In late January the FCA issued a Dear CEO letter to pension providers, proposing new protections to be provided to consumers seeking to access their pension pot when the new pension freedoms are introduced from 6 April 2015.

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Blog

Taxpayer successfully relies on human rights argument to defeat HMRC following the taxation of the same profits twice

27 February 2015

The appellant, in Ignatius v HMRC[1], has successfully fought off an attempt by HMRC to strike out his appeal, by relying on the European Convention on Human Rights ("ECHR").

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Blog

Senior insurance managers regime – proposals for NEDs

Published on 27 February 2015. By Jonathan Charwat, Senior Associate

Last year, we reported on proposals for a new senior insurance managers' regime ('Senior insurance managers - all change!').

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Blog

Shared parental leave: switching the boardroom for baby care

Published on 26 February 2015. By Rachael Ellis, Associate

Nick Clegg’s new baby - shared parental leave - has been born and, would-be dads, it means you can now spend almost a year off work with your bundle of joy. Why then, are you all so keen to stay at the office?

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Blog

An uncharacteristic appeal: Ocean Victory decision reversed

24 February 2015

Charterers (and their insurers) concerned by the first instance decision in The "Ocean Victory" may rest a little easier following the successful appeal which saw Daiichi Chuo overturn a judgment of over US$130 million against them.

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Blog

A step closer to ring-fencing of banking activities?

Published on 23 February 2015. By Matthew Watson, Associate

The Government has taken some tentative steps towards ensuring ring-fenced banks cannot become liable for the pension schemes of other entities.

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Blog

The fraudsters are back – they never left!

Published on 20 February 2015. By Jonathan Wyles, Legal Director

In July 2014 we warned about fraudsters targeting solicitors to gain access to their client account

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Blog

Scheming for foreign companies

19 February 2015

In the recent case of Re LDK Solar Co Ltd,(1) Justice Lam considered the approach that the court should take in deciding whether to invoke its jurisdiction to approve an arrangement or compromise between a foreign company and its creditors or members.

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