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SIPPs 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?
Read moreThe Future of Insolvency Regulation
On 21 December 2021 the Government launched a consultation into the future of insolvency regulation. The changes proposed in the consultation document will have a wide ranging impact on the insolvency profession (and its insurers) with the proposals including: the direct regulation of insolvency firms, the introduction of a single regulatory body with powers to order compensation against insolvency practitioners and firms, a new additional requirements regime, changes to the bond regime and a public register of insolvency practitioners and firms. Many of the changes proposed require primary legislation and so it may be some time before the changes to take effect (if adopted). But there does appear to be some wind behind these proposals given they follow on from the Call for Evidence in 2019 and a more general focus on insolvency issues in the wake of the Covid-19 pandemic.
Read moreDealing with HMRC information notices
Considering three common types of HMRC information notices and the extent to which they can be challenged.
Read moreTax Bites – July 2024
Welcome to the latest edition of RPC's Tax Bites – providing monthly bite-sized updates from the tax world.
Read moreTaxpayer's appeal against refusal of CGT loss relief claim allowed
Tax Tribunal confirms CGT relief for loan to trader not prevented by capitalisation of loan.
Read moreV@ update – June 2024
Welcome to the June 2024 edition of RPC's V@, a monthly update which provides insightful analysis and news from the VAT world.
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
Read moreExploring tax from an ESG perspective
In this month's episode, Alexis Armitage, RPC's Taxing Matters host and Senior Associate in our Tax Disputes team, is joined by Paul Monaghan, Chief Executive and co-founder of the Fair Tax Foundation to discuss the growing interest in tax from an ESG perspective, and the work of the Fair Tax Foundation.
Read moreA tax on conscience? A moral dilemma for non-residents
In HMRC v A Taxpayer, the Upper Tribunal (UT) considered the meaning of ‘exceptional circumstances’ for the purposes of the statutory residency test (SRT) in FA 2013. In overturning the decision of the First-tier Tribunal, the UT held that moral obligations, specifically the need to care for close relatives, were not exceptional circumstances, creating a potential dilemma for individuals when it comes to managing their tax residency status and their family life.
Read moreThe Times recognises RPC among Best Law Firms 2024
International law firm, RPC, has been recognised by The Times in its Best Law Firms 2024 report, an annual ranking of the top 250 law firms in England and Wales.
Read moreSilicon Valley, Signature and Credit Suisse: what do they all share(holder) in common?
In what has been termed "the biggest banking crisis since 2008", both Silicon Valley Bank (SVB) and Signature Bank have collapsed, and Credit Suisse has been rescued. Whether more banks are to follow suit is yet to be seen.
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