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New SFO guide to DPAs: material change, or confirmation of approach?
Last week, the Serious Fraud Office (SFO) published a comprehensive guide to its approach to Deferred Prosecution Agreements (DPAs).
Read moreUKCA Marking: Updated Guidance
As the end of the Brexit implementation period draws closer, the UK Government has sought to clarify the changes that will follow. On 1 September 2020 they published the long-awaited guidance on the use of UKCA marking following the withdrawal of the previously issued advice earlier this year.
Read moreMedical Devices Regulation on the horizon
The EU Regulation on Medical Devices 2017/745 (the MDR) had been due to become fully applicable on 26 May 2020.
Read moreSMCR: The tricky implementation phase
The Senior Managers and Certification Regime (SMCR) came into force for all financial services firms solo-regulated by the Financial Conduct Authority (FCA) on 9 December 2019. The SMCR replaces the previous APER regime under which the FCA had oversight of the individuals working in the financial services industry. There is a one year implementation period for firms to make the changes required by the SMCR, which expires on 9 December 2020.
Read moreCOVID-19: The Dairy Sector and Welsh health services granted temporary UK competition law exemptions and the European Commission issues first 'Comfort Letter' to Pharmaceutical Manufacturers
The UK Government has granted a temporary competition law exemption for certain collaboration within the dairy sector and Welsh health services and the European Commission has published its first 'comfort letter' to allow co-operation to ensure supplies of medicines for COVID-19 patients.
Read moreRegulated Activities Order amendments for the new Bounce Back Loan Scheme
On 1 May 2020, the Financial Services and Markets Act 2000 (Regulated Activities) (Coronavirus) (Amendment) Order 2020 was published and came into force on 4 May 2020.
Read moreCOVID-19: What is the CMA's current approach to UK merger assessment?
The CMA has been adapting its working practices to react to the ongoing challenges of a change in working environment that has an impact on almost all businesses.
Read moreCOVID-19: Coronavirus and Competition Law - The Current Enforcement Scene
Read moreTribunal allows taxpayer's appeal in part in case concerning deliberate and/or careless errors
In Shaun Harte v HMRC [2024] UKFTT 00493 (TC), the First-tier Tribunal reduced HMRC's assessments to income tax, penalties and VAT. It also considered HMRC's application of the 'presumption of continuity' in relation to deliberate and/or careless errors.
Read moreContentious Tax Update 2
Contentious Tax Quarterly Review - Adam Craggs and Harry Smith examine developments in relation to open justice, access to pleadings and the taxation of carried interest.
Read moreUpper Tribunal confirms that anti-abuse provision in UK/Ireland double tax treaty did not apply
In HMRC v Burlington Loan Management DAC [2024] UKUT 152 (TCC), the Upper Tribunal held that the anti-abuse rule in the UK/Ireland double tax treaty did not apply to deny the withholding exemption, when a Cayman Islands company assigned the benefit of a debt to an Irish company.
Read moreUpper Tribunal confirms it’s the end of the road for HMRC's "fishing expedition"
In the recent Hitchins case, the Upper Tribunal confirmed that it was the end of the road for HMRC's "fishing expedition" and ordered it to close its enquiries.
Read moreClosure notices and the appeals process
In this article we consider the process by which a taxpayer can bring a protracted HMRC enquiry to and end and appeal against a closure notice issued by HMRC.
Read moreHNWs: Understanding HMRC's Offshore Information Gathering Capabilities
Wealthy individuals have long been the focus of a substantial part of HMRC’s compliance activities, but a difficult economic climate together with a looming general election and possible change of government is likely to lead to even greater scrutiny of HNWs by HMRC in the short term.
Read moreTribunal confirms no tax due on disposal of property held on trust for taxpayer's brother
In Raveendran v HMRC [2024] UKFTT 273 (TC), the First-tier Tribunal allowed the taxpayer's appeal against HMRC's discovery assessment in relation to the disposal of a property because it was held on trust for his brother.
Read moreTribunal confirms loans from remuneration trust were disguised remuneration
In allowing HMRC's appeal in part, the Upper Tribunal determined that payments received under a remuneration trust scheme were caught by the anti-avoidance provisions in Part 7A of the Income Tax (Earnings and Pensions) Act 2003.
Read moreDealing with HMRC information notices
Considering three common types of HMRC information notices and the extent to which they can be challenged.
Read moreTribunal awards taxpayer his costs due to HMRC's unreasonable conduct
In Aftab Ahmed v HMRC [2024] UKFTT 00236 (TC), the First-tier Tribunal granted the taxpayer's application for costs as HMRC had acted unreasonably in defending the appeal.
Read moreTribunal allows entrepreneurs' relief appeal
In Cooke v HMRC [2024] UKFTT 272 (TC), the FTT allowed the taxpayer's appeal against HMRC's refusal of entrepreneurs' relief
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