Search results

AI in Construction

Published on 16 Jul 2024. By Georgina Haynes, Senior Associate

There is a lot of discussion around Artificial Intelligence ("AI") and its application to industry. We have considered what AI is, the benefits and risks, how it fits into the construction industry, the effect on insurers and what the future holds.

AI in auditing: Embracing a new age for the profession

Published on 08 Jul 2024. By Ash Daniells, Senior Associate

Artificial Intelligence (AI) is a rather new concept for many (ignoring those versed in 80’s Sci-Fi movies); it’s something many don’t know much about and certainly don’t use in our day-to-day lives (or at least appreciate we are using). However, that’s not the case for everyone. Auditors have long been reaping the benefits of AI, but are auditors just scratching the surface of what AI can offer and what impact will an increased use have on their insurance requirements and claims they face?

Navigating the impact of AI on work: challenges, opportunities, and the human touch

Published on 20 Mar 2024. By Patrick Brodie, Partner

The fear of job losses because of technology and automation, including artificial intelligence, has been with us since the 1960s. For some time, academics have predicted the decline of routine, rules-based and process-driven roles.

Virtual billboards: the future of immersive advertising?

Published on 15 Jan 2024. By Oliver Bray, Senior Partner and Elizabeth Alibhai, Partner and Nick Lauw, Partner

With the deployment of immersive technologies poised to become the norm, the implementation of infrastructure for "virtual billboards", and the "property digital rights" which they demand, is demonstrating a lucrative gap in the market and huge growth potential.

Thaler v Comptroller [2023] UKSC 49: the UKSC rules that AI cannot be an 'inventor'

Published on 10 Jan 2024. By Matthew Jones, Partner

To the surprise of no one, the UK Supreme Court (UKSC) has finally ruled that an artificial intelligence (AI) cannot be an inventor for the purposes of UK patent law. This judgment accords with the decisions of the lower courts in the UK and the initial ruling of the UKIPO. It also reflects similar findings from most of courts around the world where the claimant, Dr Thaler, brought similar actions.

12 top tips for using AI in retail and consumer businesses

Published on 18 Dec 2023. By Praveeta Thayalan, Knowledge Lawyer

Last year, we set out our top ten tips for retailers entering the metaverse. This year, AI is the hot topic in retail and pretty much everywhere else! AI is redefining the retail and consumer industry. It can improve consume engagement, aid decision-making, curate tailored promotions, improve efficiencies, and reduce costs. So what do retailers and consumer bran need to be mindful of when deploying AI?

Coming to a bank near you? How "investment AI" could transform financial mis-selling claims

Published on 09 Nov 2023. By Daniel Hemming, Partner and Olivia Dhein, Knowledge Lawyer

Living under a rock is probably the only way anyone might have escaped the media attention given to ChatGPT and generative AI in recent months. Beyond the (considerable) hype, this technology could have a profound impact on financial mis-selling claims where financial institutions and fund managers turn to the new technology to help them select investments and products.

EU AI ACT-ion stations

Published on 29 Sep 2023. By Helen Armstrong, Partner and Charles Buckworth, Partner

The EU is forging ahead with its vision for AI. With wrapping up talks on the EU AI Act between the EU governments, the Commission and the parliamentary negotiators imminent, we bring you up to date on the EU's risk based approach, the scope of the Act, a timeline, key points that will form the basis of the discussions and next steps.

What To Know About AI Fraudsters Before Facing Disputes

Published on 29 Aug 2023. By Dan Wyatt, Partner and Christopher Whitehouse, Senior Associate

Fraudsters are quick to weaponise new technological developments and artificial intelligence is proving no exception, with AI-assisted scams increasingly being reported in the news, including most recently one using a likeness of a BBC broadcaster.

The November 2023 AI safety summit and the UK's direction of travel

Published on 29 Aug 2023. By Helen Armstrong, Partner and Charles Buckworth, Partner and Joshy Thomas, Knowledge Lawyer

The government has confirmed that the UK AI safety summit will be held at Bletchley Park on 1 and 2 November 2023.

The "Unicorn Kingdom's" AI White Paper

Published on 12 May 2023. By Helen Armstrong, Partner and Ricky Cella, Senior Associate and Joshy Thomas, Knowledge Lawyer

The UK's pro-innovation AI White paper has been published. It landed almost simultaneously with an open letter from the Future of Life Institute which called for a six-month halt in work on AI systems more powerful than the generative AI system: GPT-4.

Generative AI and intellectual property rights—the UK government's position

Published on 03 May 2023. By Helen Armstrong, Partner and Jani Ihalainen, Associate and Joshy Thomas, Knowledge Lawyer

The IPO is to produce a code of practice by the summer that will provide guidance to support AI firms in accessing copyright protected works as an input to their models.

New developments in AI may put law firms at greater risk of phishing fraud

Published on 28 Apr 2023. By Will Sefton, Partner and Head of Professional and Financial Risks and Tom Morris, Associate

As the computing power of Artificial Intelligence continues to grow exponentially, we consider how generative technology may expand the reach of traditional phishing frauds aimed at law firms.

Understanding and managing the risks in artificial intelligence (AI) technology projects

Published on 12 Apr 2023. By Helen Armstrong, Partner and Ricky Cella, Senior Associate and Joshy Thomas, Knowledge Lawyer

How do you go about managing the risks and challenges that might arise during the deployment of AI technology?

AI technology projects – the regulatory landscape

Published on 24 Feb 2023. By Helen Armstrong, Partner and Ricky Cella, Senior Associate and Joshy Thomas, Knowledge Lawyer

Parties engaged in AI technology projects should be mindful of the regulatory landscape, and the changes taking place within it. A failure to do so could result in an AI solution that is not compliant from a regulatory perspective, the use of which potentially creates risk for the technology provider and user.

Tribunal confirms no tax due on disposal of property held on trust for taxpayer's brother

Published on 18 Jul 2024. By Keziah Mastin, Associate

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.

Tribunal confirms loans from remuneration trust were disguised remuneration

Published on 11 Jul 2024. By Liam McKay, Senior Associate

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.

Dealing with HMRC information notices

Published on 04 Jul 2024. By Adam Craggs, Partner and Daniel Williams, Associate

Considering three common types of HMRC information notices and the extent to which they can be challenged.

Tribunal awards taxpayer his costs due to HMRC's unreasonable conduct

Published on 20 Jun 2024. By Jasprit Singh, Associate

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.

Tribunal allows entrepreneurs' relief appeal

Published on 13 Jun 2024. By Keziah Mastin, Associate

In Cooke v HMRC [2024] UKFTT 272 (TC), the FTT allowed the taxpayer's appeal against HMRC's refusal of entrepreneurs' relief

What happens in an HMRC criminal investigation

Published on 06 Jun 2024. By Adam Craggs, Partner and Michelle Sloane, Partner

Tribunal dismisses HMRC's appeal and confirms transactions did not give rise to a taxable remittance

Published on 30 May 2024. By Liam McKay, Senior Associate

In dismissing HMRC's appeal, the Upper Tribunal confirmed that transactions entered into by the taxpayers for the sale of shares did not amount to a taxable remittance under section 809L of the Income Tax Act 2007 because no service was provided in the UK.

Key features of the new non-UK domicile regime

Published on 29 May 2024. By Michelle Sloane, Partner and Jasprit Singh, Associate

The UK government's unexpected announcement in Spring Budget in March on the taxation of non-domicile individuals has sparked concerns and much comment. It represents a major change to the current system of taxation, which is more than 200 years old.

Taxpayers' application for  protective costs order against HMRC refused

Published on 20 May 2024. By Alexis Armitage, Senior Associate

UT dismisses taxpayer's application for a protective costs order against HMRC.

No bouncing back for directors

Published on 20 May 2024. By James Wickes, Partner and Adam Craggs, Partner and Catherine Zakarias-Welch, Knowledge Lawyer

Banned! Fraudsters! – Terms used by the Insolvency Service for directors who abused the government backed loan scheme which was put in place to help businesses struggling during the pandemic.

Contentious Tax Update

Published on 16 May 2024. By Harry Smith, Senior Associate and Adam Craggs, Partner

Harry Smith and Adam Craggs examine developments in relation to DOTAS, R&D enquiries, and the Economic Crime and Transparency Act.

Tribunal allows taxpayer's appeal in R&D case against penalty assessment for careless inaccuracy

Published on 03 May 2024. By Jasprit Singh, Associate

In H & H Contract Scaffolding Ltd v HMRC [2024] UKFTT 00151 (TC), the First-tier Tribunal (FTT) allowed the taxpayer's appeal against a penalty assessment as the inaccuracy in the tax return was not careless.

Contentious tax quarterly: Spring review

Published on 01 May 2024. By Adam Craggs, Partner and Harry Smith, Senior Associate

The last few months have seen a flurry of activity in relation to the DOTAS regime, with HMRC seeking to register arrangements retrospectively and apply substantial penalties for failure to register. Woes continue for those unfortunate enough to have R&D claims under enquiry, and the Economic Crime and Corporate Transparency Act 2023 gives HMRC a significant new tool in relation to suspected criminal activity by bodies corporate and partnerships.

Costly objection by HMRC

Published on 15 Apr 2024. By Harry Smith, Senior Associate

FTT allows costs application where HMRC acted unreasonably in opposing specific disclosure application.

Let us in!

Published on 20 Jun 2023. By Adam Craggs, Partner and Michelle Sloane, Partner

Adam Craggs and Michelle Sloane explain what a business should do should HMRC come calling unexpectedly.

Are you ready for the Economic Crime Levy?

Published on 14 Mar 2023. By Adam Craggs, Partner and Michelle Sloane, Partner

On 28 February 2023, HM Treasury published draft regulations, together with an explanatory memorandum, that revise and make further provision for assessment, payment, collection, and enforcement of the Economic Crime Levy (ECL).

Couldn’t careless? Reasonable care and the role of professional advisers

Published on 27 Feb 2023. By Adam Craggs, Partner

Whilst taking professional advice will usually mean a taxpayer has taken reasonable care, not taking advice does not necessarily mean a taxpayer has been careless.

Victory – but at what cost?

Published on 31 Jan 2023. By Adam Craggs, Partner and Harry Smith, Senior Associate

From a review of recent costs decisions handed down by the FTT, it is difficult to escape the conclusion that the FTT can be guilty of inconsistency and results-led reasoning when exercising its jurisdiction in relation to costs orders.

Tribunal allows taxpayer's appeal and confirms its holding in another company constituted a "structural asset"

Published on 02 Nov 2022.

Tribunal allows taxpayer's appeal and confirms its holding in another insurance company constituted a "structural asset" for the purpose of section 137, Finance Act 2012.

Upper Tribunal agrees with the taxpayer on payments to secure changes to pension arrangements

Published on 26 Oct 2022. By Keziah Mastin, Associate

The Upper Tribunal allowed E.ON's appeal against HMRC's decisions imposing income tax and national insurance contributions to facilitation payments for changes to pension arrangements.

Lack of documentary evidence no bar to proving capital loss claim

Published on 19 Oct 2022. By Liam McKay, Senior Associate

Allowing the taxpayers' appeal, the First-tier Tribunal held the Appellant was entitled to claim a capital loss from an earlier tax year to reduce the capital gains tax due on a gain realised by him on the sale of a commercial property because the claim was notified in time, and that inaccuracies in the Appellant's return had not been brought about deliberately.

HMRC's Ramsay argument fails

Published on 12 Oct 2022. By Harry Smith, Senior Associate

HMRC loses capital allowances case as Ramsay argument fails.

Tribunal considers salaried member rules for the first-time and allows taxpayer's appeal in part

Published on 05 Oct 2022. By Alexis Armitage, Senior Associate

Tribunal considers salaried members rules for the first-time allowing taxpayer's appeal in part

New powers proposed to enable law enforcement agencies to seize crypto assets

Published on 28 Sep 2022. By Adam Craggs, Partner

On 22 September, the UK government introduced The Economic Crime Bill. The Bill contains provisions to make it quicker and easier for law enforcement agencies, such as the National Crime Agency, to seize, freeze and recover cryptoassets used by criminals to launder the proceeds of crime.

Valuing leasehold interests in trade-related properties using profits method does not involve disaggregation of property value and "transferable goodwill"

Published on 28 Sep 2022.

Valuing leasehold interests in trade-related properties using profits method does not involve disaggregation of property value and "transferable goodwill".

Repeal of IR35 reforms

Published on 27 Sep 2022. By Kelly Thomson, Partner, ESG strategy lead

The Chancellor announced at last week's “mini-Budget” that the recent changes to the “off-payroll” working rules (commonly referred to as 'IR35') are going to be reversed, from 6 April 2023.

Purpose-based rules: Have we hit BlackRock-bottom?

Published on 21 Sep 2022.

In HMRC v BlackRock Holdco 5 LLC [2022] UKUT 199 (TCC), the Upper Tribunal (UT) allowed HMRC’s appeal, holding that the First-tier Tribunal (FTT) was wrong to interpose certain terms (covenants) in loans when conducting its analysis of the counter-factual transaction as between the taxpayer and an unconnected third-party. It held that the FTT was wrong to attribute all of the loan debits arising to the taxpayer's commercial main purpose and should instead have arrived at the opposite conclusion.

HMRC made to cry a river over SEIS defeat

Published on 14 Sep 2022. By Harry Smith, Senior Associate

FTT holds in favour of taxpayer in technical SEIS / EIS relief decision.

Tribunal upholds HMRC notice transferring debt from managed service company to its former director

Published on 07 Sep 2022. By Alexis Armitage, Senior Associate

Tribunal upholds HMRC notice transferring a debt from a managed service company to its former director.

Taxpayer successful in application for permission to rely on expert evidence

Published on 31 Aug 2022.

Taxpayer successful in application for permission to rely upon expert evidence.

All settled!

Published on 24 Aug 2022. By Harry Smith, Senior Associate

Loan relationship appeal allowed as credit relating to settlement of litigation due to mis-selling of swaps did not arise from related transaction.

Permission to appeal not required for successful party to a tax appeal

Published on 17 Aug 2022. By Keziah Mastin, Associate

In dismissing the taxpayer's objection, the Upper Tribunal decided that HMRC, who had won before the First-tier Tribunal need not apply for permission to appeal in order to raise two new arguments in response to the taxpayer's appeal to the Upper Tribunal.

Capital Gains and Principal Residence Relief: What Makes a House?

Published on 10 Aug 2022. By Liam McKay, Senior Associate

Allowing the taxpayers' appeals, the First-tier Tribunal held that, for the purposes of calculating entitlement to Principal Residence Relief under sections 222 and 223 of the Taxation of Chargeable Gains Act 1992, "dwelling-house" did not include the land on which the house was built, and "period of ownership" referred only to the period of ownership of the dwelling-house itself.

Tribunal confirms discovery assessment was invalid as enquiry window was still open

Published on 03 Aug 2022. By Alexis Armitage, Senior Associate

Tribunal allows taxpayer's appeal confirming that a discovery assessment raised under section 29 Taxes Management Act 1970, was invalid as the enquiry window was still open.

Agent was careless notwithstanding white space disclosure

Published on 27 Jul 2022.

White space disclosure on tax returns not a defence against claim of carelessness, as FTT upholds discovery assessments.