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First-tier Tribunal Strips Club of VAT Relief
More exotic facts than are typical for a VAT case reached the First-tier Tribunal (Tax Chamber) (the FTT) last month.
Read moreAdvocate General fashions a designer-friendly Opinion in Karen Millen v Dunnes Stores
An Advocate General of the CJEU has recently handed down his Opinion following a referral from the Irish High Court in the case of Karen Millen v Dunnes Stores.
Read moreOffshore Ombudsman Part II: busman's holiday continues in Jersey
The creation of a joint Office of the Financial Services Ombudsman ("OFSO") for Guernsey and Jersey took a step closer on 1 April 2014 as the States of Jersey approved the Financial Services Ombudsman (Jersey) Law 201.
Read moreWill Prince Charles's musings see the light of day?
R (Evans) v Attorney General 2014 EWCA 254
Read moreVitol Bahrain v Nasdec General Trading: Commercial Court declines jurisdiction
In the recent decision of Vitol Bahrain EC v Nasdec General Trading & Others the Commercial Court reaffirmed the need for caution when considering whether to bring foreign defendants within the jurisdiction of the English courts.
Read moreNew Regulators' Code
As my colleague Sam Bishop has commented on our Financial Services Blog, the new Regulators' Code imposed by the government in April may have a marked impact on the direction of the FCA and PRA's regulatory approach, and in particular on the importance of economic growth.
Read moreDeutsche Bank and UBS tax avoidance schemes succeed
The cases of DB Group Services (UK) Limited v HMRC and HMRC v UBS AG[1] were heard together by the Court of Appeal in November 2013 and the decision was published last month.
Read moreGovernment tries to tame the regulators
The new Regulators' Code, first published by the aptly named Better Regulation Delivery Office in July 2013, came into statutory force on April 6.
Read moreFCA takes on the competition with appointment of former CEO of Competition Commission
The FCA has dispelled any doubts about how seriously it intends to take its new competition objective by announcing the appointment of David Saunders...
Read moreProtection for Partners – which way will the wind blow?
The Supreme Court's decision in the case of Clyde & Co v Bates van Winkelhof is eagerly awaited by partnerships, LLPs and those who advise them on their internal procedures.
Read moreTribunal sets aside HMRC information notice for lack of clarity
R D Utilities Ltd v HMRC [2014] UKFTT 303 (TC)
Read moreRight time for UK REITs
Real Estate Investment Trusts ("REITs") are listed companies that invest in physical property, typically commercial real estate.
Read moreRight time for UK REITs
What are REITs? Real Estate Investment Trusts ("REITs") are listed companies that invest in physical property, typically commercial real estate.
Read moreThe latent costs of Osborne's pension overhaul
“No caps. No drawdown limits. Let me be clear. No one will have to buy an annuity."
Read moreHas the Weller case created an image right in relation to the facial expressions of children?
The singer Paul Weller, acting on behalf of three of his children, was successful in his privacy action against Associated Newspapers Limited (ANL) in relation to seven unpixellated photographs of the children and their father out shopping on a public street and relaxing in a café in Los Angeles.
Read moreRestrictive Covenant Clause Enforced Despite it Containing a Drafting Error
The High Court has just handed down its judgment in the case of Prophet Plc v Huggett.
Read moreConsumer credit cards: FCA questions whether we are getting a fair deal
Martin Wheatley, Chief Executive of the FCA, speaking last week at the Credit Today Credit Summit, announced that the FCA would be launching a full-scale competition review into the UK's £150bn credit card market before the end of 2014.
Read moreThe New Draft ICC Conditions
A new and updated version of the Infrastructure Conditions of Contract (ICC Conditions) was issued in consultative draft form for comment in March 2014 by the ICC Development Forum.
Read moreThe New Draft ICC Conditions
A new and updated version of the Infrastructure Conditions of Contract (ICC Conditions) was issued in consultative draft form for comment in March 2014 by the ICC Development Forum.
Read moreHMRC’s computer says no!
In Varma v HMRC [2014] UKFTT 006 (TC), the First-tier Tribunal (Tax Chamber) ('FTT') quashed a penalty that had been issued to a taxpayer for late filing of a self-assessment tax return.
Read moreA lack of goodwill for Medical Professionals
Over recent years increasing numbers of medical professionals have sought to incorporate their private practices for perceived tax advantages.
Read morePainting by numbers – Court of Appeal dismisses HMRC's appeal
The Court of Appeal has dismissed HMRC's appeal in Lord Howard of Henderskelfe's Executors v Revenue and Customs Commissioners [2014] EWCA Civ 278 and confirmed that, as the Portrait of Omai by Sir Joshua Reynolds ('the Portrait') was a wasting asset within the meaning of section 44 Taxation of Capital Gains Tax Act 1992 ('TCGA'), no capital gains tax ('CGT') charge arose on its disposal for £9.4m.
Read moreICO urges app developers to respect users' privacy
The Information Commissioner's Office (ICO) has published guidance[1] aimed at helping mobile app developers comply with the Data Protection Act 1998 (DPA) and ensure that the privacy of app users is protected.
Read moreNet contribution Clause: Court of Appeal Guidance
The recent Court of Appeal decision in West v Ian Finlay and Associates has confirmed that a properly drafted net contribution clause ("NCC") is a valid and enforceable contractual term.
Read moreNew LCIA Rules 2014, draft in consultation
The LCIA has released its draft of the new Arbitration Rules, which will be considered by the LCIA Court at its meeting next month on 9 May 2014.
Read moreIs your boss a psychopath?
In the very unlikely event that you have answered in the affirmative, that partner may form part of the 4% of senior business managers who are on the psychopathic spectrum.
Read moreCosts consequences of acceptance of a claimant's part 36 offer
The High Court in Haynes v Department for Business Innovation and Skills has allowed an appeal against a decision on the eighth defendant's liability for costs following its acceptance of the claimant's offer under part 36 of the CPR.
Read moreFCA 'game changer' set to discipline add-on markets
The FCA has published its third Occasional Paper describing the new experimental approach it took in its add-ons market study, where for the first time it used behavioural economics to assess how selling insurance as an add-on affects consumer decisions. This raises key implications for insurers.
Read moreIs an Old Master the same as office chair? The devil's in the detail
In March 2014, the English Court of Appeal determined that Omai, an 18th century masterpiece by Sir Joshua Reynolds, was an item of "plant or machinery" and a "wasting asset", no different from other trade equipment such as tables, chairs and cars.
Read moreHigh Court holds that HMRC's winding up petition should be dismissed as an abuse of process.
The High Court (David Donaldson QC) has held in Enta Technologies Limited v HMRC [2014] EWHC 548 (Ch), that where a winding-up petition was brought by HMRC ...
Read moreBrutal Simplicity of Thought
"If you want your work to achieve the impossible, you will need 'Brutal Simplicity of Thought'."
Read moreFCA Business Plan 2014/15 and what it means for the general insurance market
Fewer than 8 lines into the FCA's Business Plan for 2014/15, Martin Wheatley reminds us of just some of the regulator's work over the past year. Interest only mortgages, add on insurance, introductory rates of interest on accounts. He goes on to say "there must be no let up to the pace of our activities for 2014/15."
Read moreTribunal decides that taxpayers must attempt to obtain information held by trustee!
In the recent case of H A Patel & K Patel (a partnership) v HMRC [1], the First-tier Tribunal (Tax Chamber) (‘FTT’) dismissed an appeal by the taxpayers that information and documents held by a trustee were not ‘in their possession or power’ for the purpose of paragraph 18, Schedule 36, Finance Act 2008.
Read morePersistent breaches of the partnership agreement? – don’t slice the salami
The recent Court of Appeal decision in Bishop v Golstein[1] has provided welcome clarification on the way to bring a traditional partnership to an end, when one party has breached the partnership agreement repeatedly.
Read moreRMB exchange rate causing distress: Recent depreciation risks significant losses under exotic currency derivatives
The renminbi (RMB) appreciation over the last several years appears to have halted for now (at least in the short-term), which has taken much of the market by surprise.
Read moreThe Law of Confidence – Where are we now?
Our latest article, which first appeared in the March 2014 issue of PLC Magazine, ...
Read moreA continuation on a thematic review: insurance broker fined for ABC systems failings
Such is the seeming regularity with which insurance brokers face censure from the FCA for failings in their anti-bribery and corruption systems and controls that the £315,000 fine dished out to Besso Limited this week may not be considered by some as blog-worthy (particularly when that blog is introduced with such an awful pun).
Read moreCourt of Appeal confirms no general duty to advise on sophisticated tax planning
Last year the High Court's decision in Mehjoo v Harben Barker gave rise to plenty of lurid headlines.
Read moreBudget 2014 - update
Last week's Budget announcements were light on the property tax front.
Read moreBudget 2014 - update
Last week's Budget announcements were light on the property tax front.
Read moreDifferent Emails, Read Together, Can be a Qualifying Whistleblowing Disclosure
In the case of Norbrook Laboratories (2B) Limited v Shaw the EAT considered whether emails sent to different recipients could be taken as a whole to amount to a qualifying disclosure for the purposes of a whistleblowing claim.
Read moreMarket manipulation: why you should give a Forex
Allegations of manipulation in the Forex market have the potential to give rise to both regulatory fines and legal claims dwarfing those relating to LIBOR –
Read moreHMRC lose FURBS appeal
In HMRC v Forde and McHugh Limited [2014] UKSC 14, the Supreme Court has dismissed HMRC's appeal and reinstated the decision of the Upper Tribunal.
Read moreRelief from sanctions: round-up of recent decisions
Please click here for our latest article which looks at three recent decisions concerning relief from sanctions following the much publicised changes in April 2013 and the seminal case of Mitchell v News Group Newspapers Ltd [2013] EWCA Civ 1537.
Read moreCompany succeeds in overturning section 419 ICTA assessment
The First-tier (Tax Chamber) Tribunal ('FTT') has decided in RKW Limited v HMRC [2014] UKFTT 151 (TC) that consideration payable by an individual in future instalments for subscribing for shares in an unconnected close company, as defined in section 414 Income and Corporation Taxes Act 1988 ('ICTA'), is not a loan or debt within the meaning of section 419 ICTA ('section 419').
Read moreGeographical indication: food for thought
Food manufacturers and retailers engage with consumers on a variety of levels in order to stand out in an increasingly crowded marketplace.
Read moreDeal or No Deal: FOS recommends taking legal advice following Clark v In Focus
Reacting to the decision in Clark v In Focus, FOS has updated its technical notes to help guide complainants who might have previously sought to top up their award in Court.
Read moreWhen within Rome I or II, do as your EU counterpart might (or might not) do but not in quite the same way they would do it.
It seems fairly uncommon[1] for a personal injury action to become a precedent of interest to, and significance for, commercial lawyers.
Read moreFCA's first market study finds little value-add in uncompetitive insurance add-ons market
The FCA is proposing to make dramatic changes to the £1 billion insurance add-ons market in order to protect consumers, according to its market study report released yesterday.
Read moreLitigation privilege in liquidations
The recent Court of Appeal decision in Rawlinson and Hunter Trustees SA & others v Akers & another [2014] serves to emphasise that third party reports commissioned by liquidators to enable them to consider whether litigation should be commenced ...
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