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Let's talk about VAT – a useful reminder
A recent Court of Appeal decision (CLP Holding Co Ltd v Singh and Kaur[1]) serves as a reminder to consider VAT during sale negotiations, and ensure that VAT wording in contracts is sufficiently clear.
Read moreBe careful what you dig for
Beginning a project in an area of archaeological interest can be an historical minefield for both developers and contractors.
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 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 moreBudget 2014 - update
Last week's Budget announcements were light on the property tax front.
Read more2014 – Another Year of Planning Reform
The past few years have seen a raft of changes to planning regime and 2014 seems set to continue with that trend. The matters below highlight some of the changes on the horizon.
Read moreToo close for comfort – LPAs fail on the duty to co-operate
You would have thought that by now, after nearly 2 years since the Localism Act and National Planning Policy Framework have been in place, that local planning authorities would have got their act together.
Read moreAdjudication - "Pay first, argue (now up to twice as much) later"
The recent Court of Appeal decision in Aspect Contracts (Asbestos) Ltd v Higgins Construction Plc [2013] EWCA Civ 1541 clarifies that a limitation term is implied into every construction contract under the Construction Act 1996, where no express term exists.
Read moreWant to Control the Future?
A seller commonly wishes to restrict the buyer's use of land after the sale – sometimes forever and sometimes only for a limited period.
Read moreA Damp Squibb
The recent case of Squibb Group Ltd v (1) London Pleasure Gardens (2) London Borough of Newham [2013] EWHC 3275 (TCC) demonstrates that contractors cannot rely on funders to pay outstanding fees where an employer runs into financial difficulty.
Read moreIt shouldn't be a hard sell. Getting your head around the known knowns and the known unknowns
Although Don Rumsfeld wasn’t talking about the sale of property when he talked about knowns, he makes an important point about knowledge. Picture the scene.
Read morePledging to use Alternative Dispute Resolution ("ADR")
On November 12th, signatories of The International Institute for Conflict Prevention & Resolution (CPR)'s new 21st Century Pledge will be announced.
Read moreIs sunlight a nuisance?
Reports that sunlight reflecting from the unusually shaped "Walkie Talkie" building at 20 Fenchurch Street in London has melted parts of a Jaguar motor-vehicle parked on Eastcheap Street raises an interesting question whether reflected sunlight or heat from a building is actionable in law.
Read moreProcurement Policy Note on EU Directives
The Cabinet Office has issued a Procurement Policy Note (“PPN”) which summarises the main outcomes of the new EU Directives relating to public procurement, utilities procurement and service concessions. The PPN also outlines the next steps in finalising and implementing the Directives.
Read moreHELP TO BUY: BOOM OR BUST?
The Help to Buy initiative forms part of the Government's Funding for Lending scheme.
Read moreSDLT group relief anti-avoidance – good news from HMRC
Last week saw some (much needed) good news on the topic of SDLT avoidance, that should clarify HMRC's approach to the common commercial practice of transferring a property intra-group, following the acquisition of a property-owning company (PropCo).
Read moreSDLT avoidance - HMRC victorious regardless of taxpayer 'motive'
HMRC has scored a resounding victory in the first case[1] to consider in any detail the wide-ranging SDLT anti-avoidance provision (section 75A of Finance Act 2003).
Read moreInsurers as lenders: what borrowers need to know
Insurers are the new show in town The make-up of providers of debt secured against UK real estate has changed dramatically.
Read moreWhen the levee breaks
Whilst the stalled talks between ABI and Government have recently re-started, in less than 8 weeks a substantial number of properties may suffer significant loss of capital value if their owners are no longer be able to obtain flood risk insurance.
Read moreGrowth and Infrastructure Act 2013
The Growth and Infrastructure Act 2013 (the Act) was given Royal Assent on 25 April 2013.
Read moreOutsourcing Health & Safety – a step too far?
Michael Scott & Danielle Lodge question the wisdom of outsourcing health and safety responsibilities
Read moreAdjudicator's Fees
The Court of Appeal has confirmed that an Adjudicator is not entitled to any of his fees in circumstances where his decision is unenforceable.
Read moreProperty Rental Business Transfers and Leases – Reclaiming VAT and SDLT
Last November, following the decision in the case of Robinson Family Limited, HMRC announced that a transfer of a property rental business can qualify as a "transfer of a going concern" (TOGC) – and therefore not attract VAT – even if the transferor retains a reversionary interest in the property.
Read moreWhat are the potential risks associated with BIM?
This is the second of three blogs about Building Information Models, or BIM. This blog will consider the potential risks associated with BIM, but don't worry we provide some practical advice on how these risks can be tackled in our final BIM blog.
Read moreRights to Light Reform: Law Commission Consultation
On 18 February 2013 the Law Commission announced that it was beginning a consultation process regarding possible changes to the law governing "rights to light".
Read moreThe End of the British High Street?
2012 was a hard year for the retail sector but 2013 is shaping up to be an even tougher year for High Streets in the UK.
Read moreWill Planning Performance perform?
On 22 November 2012, the Department for Communities and Local Government (DCLG) published a consultation entitled 'Planning performance and the planning guarantee' setting out, amongst other things, how the Growth and Infrastructure Bill's proposals to enable planning applications to be made directly to the Planning Inspectorate (PINS) would operate.
Read moreRights of Light
Rights of light are an easement and are commonly acquired simply by a neighbour having enjoyed the light over a neighbouring building owner’s land for a period of 20 years without interruption.
Read moreThe Corporate Sustainability Due Diligence Directive expert briefing
The Corporate Sustainability Due Diligence Directive (CSDDD) was adopted on 24 May 2024 and was published in the Official Journal of the EU on 5 July. This means the law will enter into force 20 days later on 26 July, and will apply to companies from 2027.
Read moreRecent CAT rulings consider distribution concerns
With two collective settlements now approved by the UK's Competition Appeal Tribunal (CAT) and the outcome of the first substantive trial in the case of Le Patourel v BT anticipated shortly, it is an important time for the competition collective proceedings regime as the first sums start to be paid out to affected classes.
Read moreUK CAT Collective Proceedings Spring 2024 Update
Last year, we reported on what was then a fledgling collective proceedings regime in the UK’s Competition Appeal Tribunal (CAT). Our 2023 update is here. Since then, the competition collective proceedings regime has continued to grow at pace, notwithstanding the seismic Supreme Court decision in PACCAR affecting the underlying funding arrangements which underpin the entire collective proceedings landscape.
Read moreTelecoms supply agreement excludes "loss of profit" claim under "anticipated profits" liability exclusion (EE v Virgin Mobile)
In line with a number of recent cases, in EE Limited v Virgin Mobile Telecoms Limited [2023] EWHC 1989 (TCC) the courts have shown that parties generally cannot avoid clear wording contained in exclusion clauses in order to recover losses that have been expressly excluded (in this case, loss of profits).
Read moreRolls-Royce entitled to hit the brakes in dispute over termination of a software services agreement (Topalsson v Rolls-Royce)
In Topalsson GmbH v Rolls-Royce Motor Cars Limited [2023] EWHC 1765 (TCC), the High Court has provided useful guidance on how to determine whether a software implementation timeline agreed by the parties is binding, when implementation is considered complete and in what circumstances failing to complete implementation by the contractual deadlines entitles the customer to terminate the contract.
Read moreA narrow escape – software services provider entitled to rely on single aggregate liability cap (Drax v Wipro)
When it comes to bespoke software development projects, a lot can go wrong. There's risk for the customer such as project delays, software defects, functionality issues and a lack of meeting of minds in terms of project requirements.
Read moreCompliance Handbook Update: Bribery and corruption
The handbook emphasises providing compliance practitioners with insight into the practical application of FCA and PRA rules. Each chapter is discussed in the statutory and regulatory context with practical analysis of the subject, together with tips and guidance that firms may find helpful.
Read moreThe Digital Markets, Competition and Consumers Bill – What's New on the Competition Side?
In addition to the headline landscape reforms to digital markets and consumer protection, the much-anticipated Digital Markets, Competition and Consumers Bill (the Bill), introduced into Parliament on 25 April 2023, makes wide-ranging enhancements to the competition powers of the Competition and Markets Authority (the CMA) and changes to the UK merger regime.
Read moreThe Regulatory Initiatives Grid - consumer credit and payments
The latest Regulatory Initiatives Grid was recently published by the FCA and sets out the regulatory pipeline over a 24-month horizon to help firms and other stakeholders manage the operational impact on firms implementing initiatives, and plan forthcoming initiatives.
Read moreRegulatory pipeline 2023 and beyond – the Regulatory Initiatives Grid
The FCA recently published the fourth edition of its annual overview and plan for ongoing and upcoming regulatory initiatives (143 in total!)
Read more2023 Update - CAT Collective Proceedings
A new era of consumer-focussed competition class actions is now well underway. It kicked off with the first collective proceedings order (CPO) granted by the Competition Appeal Tribunal (CAT) in Merricks in the summer of 2021, opening the gates for further collective claims to be certified.
Read moreChanges incoming - Improving the Appointed Representatives regime
The FCA's changes to improve the appointed representatives regime takes effect on 8 December 2022. The changes are aimed at enhancing consumer protection and placing more responsibility on authorised financial services firms ("Principals") for their appointed representatives ("ARs").
Read moreUS and Chinese regulators sign landmark agreement on inspection of Chinese audit work
On 26 August 2022, the US Public Company Accounting Oversight Board (PCAOB) and the PRC China Securities Regulatory Commission (CSRC) and Ministry of Finance (MoF) signed a Statement of Protocol that would allow US regulators access to audits of Chinese companies listed on the US stock exchanges.
Read moreIs the FCA to blame for BSPS? MPs seem to think so
The House of Commons Public Accounts Committee (PAC) yesterday published a report entitled "Investigation into the British Steel Pension Scheme". The report makes a number of recommendations in light of its investigations in to the FCA's conduct and regulatory oversight at the time of the issues arising from the British Steel Pension Scheme (BSPS) and in particular the decision by 7,834 members to transfer to a personal pension arrangement. The report is heavily critical of the FCA's handling of BSPS and its regulatory oversight of the defined benefit transfer market generally. Given the request in the report for an update from the FCA on its progress on the various recommendations and conclusions in 6 months' time, we wait to see how the FCA reacts to yet further criticism of its handling of BSPS at a time when it is reviewing responses to the consumer redress scheme consultation.
Read moreThe Powerful And The Penalised
With SRA fining powers set to increase by a factor of twelve, we look at the changes being introduced and the impact they will have.
Read moreOperational Resilience - preparations for 31 March 2022
The deadline of 31 March 2022 is approaching when new rules on operational resilience come into force.
Read moreTackling economic crime and sanctions evasion
The draft Economic Crime Bill is now on its way to the House of Lords, having received cross-party approval in the House of Commons.
Read moreHong Kong – Appeal case reviews adequacy of regulator’s reasons not to proceed with complaint
In Ng Shek Wai v HKICPA , the Court of Appeal reviewed the adequacy of the reasons for a regulator's decision that there was no prima facie case of professional misconduct. The issue arose in the context of an application for judicial review.
Read moreWhite-collar crime and compliance predictions for 2022
In a blink of an eye, we are moving into a new spring with a new set of challenges and opportunities facing businesses. Here are RPC's three white-collar crime and compliance predictions for 2022…
Read moreSIPPs and FOS - does the Rowanmoor decision change anything?
Last week FOS published a decision it reached last year in a complaint against a SIPP provider involving advised sales. The FOS upheld the complaint, finding that the SIPP provider should have rejected business from the regulated financial adviser, CIB Life and Pensions Limited (CIB), given, broadly, red flags available to the SIPP provider with respect to the operation of CIB's business model including that CIB was not advising on the ultimate investment within the SIPP and as a result such introductions involved a significant risk of consumer detriment. The decision has received quite a bit of press attention - but has it moved the dial for SIPP complaints before FOS or not?
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