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Privacy developments – looking back and looking forward
In this article, we give you a high-level snapshot of the key data protection and privacy developments in the UK and EU in 2024 as well as developments we anticipate for 2025.
Read moreWill the UK government's latest measures targeting promoters of tax avoidance and fraud be effective?
In this article, which is based on an article published in Issue 4 2024 of the British Tax Review, Adam Craggs considers whether the UK's latest measures targeting promoters of tax avoidance schemes and tax fraud will be effective.
Read moreFinancial Crime Time - Your update from RPC: 2024 Q4
Welcome to the latest edition of our round-up of news making the headlines in the world of financial crime and compliance. Our aim is to give you an easily digestible, bite-sized overview of issues that are of interest and which may affect your business.
Read morePreparing for an HMRC dawn raid
How to prepare for a dawn raid by HMRC under the authority of a search warrant issued under the Police and Criminal Evidence Act 1984 (PACE), enabling them to enter and search premises to investigate suspected tax fraud.
Read moreThe EU's Cyber Resilience Act: 10 on the 10
Today the EU's Cyber Resilience Act (Regulation (EU) 2024/2847) ('CRA') enters into force. The CRA recognises that the continuously evolving world of smart products is frequently challenged by vulnerabilities which can potentially lead to cyber-security incidents. Whilst most of the Act's obligations will not be applicable until three years from now, 10 December is the day when the EU takes a big step towards it's ten-year Cybersecurity Strategy. To mark the occasion, we have outlined ten key points that entities in scope must be aware of in preparation for compliance with the CRA.
Read moreTaxing Matters: Deck the halls… with weird and wonderful taxes throughout history
In our special Christmas episode, Alexis Armitage, RPC's Taxing Matters podcast host and Senior Associate in our Tax Disputes and Investigations team, is joined by Andrew Hubbard, editor-in-chief of Tolley's Taxation Magazine. From candles to beards, join them as they discuss the most bizarre taxes that have existed throughout British history.
Read moreTribunal strikes out HMRC's application for a tax-related information notice penalty against Paul Baxendale-Walker
In Paul Baxendale-Walker v HMRC [2024] UKUT 00154 (TC), the Upper Tribunal granted an application by the taxpayer, under Rule 8(3)(c) of the Upper Tribunal Procedure (Upper Tribunal) Rules 2008, to strike out HMRC's application seeking a tax-related information notice penalty pursuant to paragraph 50 of Schedule 36, Finance Act 2008.
Read moreDORA Watch - November 2024
As financial entities and ICT service providers undergo the final stages of implementation of the Digital Operational Resilience Act (DORA) requirements into their systems and processes, it is imperative to understand the legal developments and ongoing updates arising from EU Member States as they go through their respective transposition and alignment processes. Through TerraLex - our global legal network, which provides us with access to 22,000 lawyers from highly regarded and carefully vetted law firms stretching more than 120 countries – we have collated legal updates focusing on DORA and its implications in EU jurisdictions.
Read moreTax Bites – December 2024
Welcome to the latest edition of RPC's Tax Bites – providing monthly bite-sized updates from the tax world.
Read moreLawyers Covered - November 2024
It can be tough for busy lawyers to find enough time to service clients, make it safely through the regulation obstacle course, win new work and keep up-to-date with developments, but we've got you covered! Welcome to the November edition of our Lawyers Liability & Regulatory Update, in which we highlight the last month's key developments affecting lawyers and the professional risks they face.
Read moreCourt of Appeal considers HMRC's CIS powers and allows taxpayers' appeals
In Beech Developments (Manchester) Ltd & Ors v Commissioners for His Majesty's Revenue and Customs [2024] EWCA Civ 486, the Court of Appeal allowed the taxpayers' appeals, finding that HMRC does have power to issue a direction under Regulation 9(4) of the Construction Industry Scheme Regulations, where the same amount has been subject to a regulation 13 determination.
Read moreThe future of financial crime under the new Labour government
Join Lord Peter Hain, Labour peer and former government minister, and Sam Tate, Head of White Collar Crime and Compliance at RPC, as they discuss the practical implications of the future of financial crime prevention and enforcement under the new Labour government.
Read moreTaxing Matters: ADR in tax disputes with HMRC's ADR lead, Fiona McRobert
In this month's episode of Taxing Matters, Alexis Armitage is joined by HMRC's Alternative Dispute Resolution (ADR) lead, Fiona McRobert, to discuss HMRC's approach to the ADR process, and how tax disputes may be resolved outside the Tax Tribunals and the court system.
Read moreTribunal finds insufficiency in taxpayer's return was not brought about "deliberately"
In allowing the taxpayer's appeal, the First-tier Tribunal determined that an insufficiency in his return was not brought about deliberately.
Read moreHow to prepare for an HMRC dawn raid
One of the most stressful moments for a business is HMRC officers demanding access to your premises, so it is vital to have plans in place in the event of a dawn raid.
Read moreA new era for sustainability consumer products: the EU’s new Ecodesign for Sustainable Products Regulation (ESPR)
On 18 July 2024 the ESPR entered into force setting a framework for new ecodesign rules in the EU. It will have significant impacts for retailers and consumer brands selling products in the EU. It will introduce new minimum ecodesign requirements for specific product categories (with an initial focus on textiles), make digital product passports mandatory and set rules on the destruction of unsold products. Companies face the risk of fines, consumer claims and reputational damage for non-compliance.
Read moreIs an insurer responsible for 'the same damage' as its insured?
Same Damage and Third Party Rights: unpacking Riedweg v HCC and the 2010 Act
Read moreDORA Developments Compilation – October 2024
As financial entities and ICT service providers undergo the final stages of implementation of the Digital Operational Resilience Act (DORA) requirements into their systems and processes, it is imperative to understand the legal developments and ongoing updates arising from EU Member States as they go through their respective transposition and alignment processes. Through TerraLex - our global legal network, which provides us with access to 22,000 lawyers from highly regarded and carefully vetted law firms stretching more than 120 countries – we have collated legal updates focusing on DORA and its implications in EU jurisdictions.
Read moreDigital operational resilience: the UK regulatory landscape
Operational Resilience in the supply chain has become an undeniable priority for all financial service providers across the continent.
Read moreContentious Tax Quarterly Review: November 2024
Adam Craggs and Harry Smith of RPC provide a Contentious Tax Quarterly Update discussing recent developments in tax litigation.
Read moreSIPP providers – What's next?
Last week the FCA issued a Dear CEO letter to SIPP operators. The letter is one of many the FCA has sent as follow-ups on the consumer duty (including the most recent letters to lifetime mortgage providers) and is a must read for those in the SIPP sector. The letter highlights the FCA's focus areas of ensuring redress is paid (where the FCA does not consider sufficient progress has been made), "outlier firms" when it comes to holdings in non-standard assets, and implementation of the consumer duty, particularly around distribution strategies/identifying target markets.
Read moreRegulatory Radar: quick takes - November 2024
Welcome to the November 2024 of our bi-monthly Regulatory Radar: quick takes, which pulls together the latest developments from across the UK's regulators.
Read moreFailure to prevent fraud: key guidance released
On 6 November 2024, the Home Office released its much-anticipated guidance on the new failure to prevent fraud offence and the procedures that organisations can implement to prevent associated persons from committing fraud offences. Running to 44 pages, this guidance is crucial as it provides a framework for large organisations to establish effective fraud prevention measures.
Read moreTribunal finds that mixed-use SDLT rates should be reined in for purchase of property and paddock
The Upper Tribunal dismissed HMRC's appeal and confirmed that mixed stamp duty land tax (SDLT) rates applied to the purchase of a property and adjoining paddock where a grazing lease for the latter was granted shortly after completion.
Read moreProduct liability and safety legislative refurb
The current legislation governing product safety is the General Product Safety Directive (GPSD), but its shortcomings, especially on tech, are evident.On 13 December 2024 the EU will be replacing the GPSD with the General Product Safety Regulation (GPSR), and the latest King’s Speech indicated it will be replaced in the UK by a Product Safety and Metrology Bill.Separately, EU Member States are rolling out a revised Product Liability Directive (PLD) which captures the provision of software, digital services and online marketplaces.
Read moreTax Bites – November 2024
Welcome to the latest edition of RPC's Tax Bites – providing monthly bite-sized updates from the tax world.
Read moreThe new Lithium-Ion Battery Safety Bill: where are we with legislation governing lithium-ion battery safety?
The new Lithium-Ion Battery Safety Bill underwent its first reading on 6 September 2024. We explain the aims of the bill and consider how it fits with the proposed Product Safety and Metrology Bill.
Read moreThe EU Compliance headache you don't know you have? A priority primer on the European Accessibility Act
It is now less than a year until the EU Accessibility Act (EAA) comes into force, which will require businesses to ensure a range of products (eg smartphones and computers) and services (eg e-commerce services, consumer banking services, and ebooks) are accessible for persons with disabilities.
Read moreAutumn Budget 2024: summary of implications for businesses and individuals
Adam Craggs explores the key implications of the Autumn Budget 2024 for businesses and individuals.
Read moreTribunal allows taxpayer's appeal against information notice
In Sangha v HMRC [2024] UKFTT 00564 (TC), the First-tier Tribunal (FTT) allowed, in part, Mr Sangha's appeal against HMRC's information notice issued under paragraph 1, Schedule 36, Finance Act 2008 as the information was not 'reasonably required' or in his 'possession or power'.
Read moreLawyers Covered - October 2024
It can be tough for busy lawyers to find enough time to service clients, make it safely through the regulation obstacle course, win new work and keep up-to-date with developments, but we've got you covered! Welcome to the October edition of our Lawyers Liability & Regulatory Update, in which we highlight the last month's key developments affecting lawyers and the professional risks they face.
Read moreClientEarth challenges claims made by BlackRock in its sustainable funds
Not only are regulators clamping down on greenwashing but, as previously highlighted, ClientEarth, a non-profit international environmental law organisation, also has this issue squarely in its sights.
Read moreGovernment consults on regulation of Buy-Now Pay-Later products
In 2021, HM Treasury announced its intention to regulate certain unregulated buy-now pay-later (BNPL) products in the UK. This followed recommendations made in the Woolard Review which raised concerns about the increased use of BNPL products during the pandemic and the significant risk that these unregulated credit products could cause consumer harm.
Read moreFCA consults on changes to the payments safeguarding regime
Under the Payment Services Regulations 2017 (PSRs) and the E-Money Regulations 2011 (EMRs) payment institutions (PIs), electronic money institutions (EMIs), small EMIs and credit unions are required to protect "relevant funds" which they receive when making a payment or in exchange for e-money that has been issued. Current safeguarding requirements are set out in the PSRs and EMRs, with guidance contained in the Financial Conduct Authority's (FCA) Approach Document.
Read moreSeeing the wood for the trees: preparing for new deforestation due diligence rules in the UK and EU
Read moreHMRC's DOTAS application struck out
In HMRC v Elite Management Consultancy Ltd (in administration) and Adam Bale [2024] UKFTT 00567 (TC), the First-tier Tribunal (FTT) confirmed that HMRC's DOTAS application was automatically struck out when it failed to serve an authorities bundle on time in breach of an 'unless' order issued by the FTT.
Read moreTaxing Matters: Crystal ball gazing with Jasprit Singh
In this episode, Alexis Armitage, RPC's Taxing Matters podcast host and Senior Associate in our Tax Disputes and Investigations team, is joined by colleague and fellow Senior Associate, Jasprit Singh. Join them as they gaze into their crystal ball and predict what could be on the horizon for taxpayers under the new Labour government.
Read moreTribunal confirms that trading had commenced for the purposes of Entrepreneur's Relief
In allowing the taxpayer's appeal, the First-tier Tribunal determined that an LLP had commenced trading for the purposes of Entrepreneur's Relief.
Read morePLC QTRLY - Q3 2024
This is our regular quarterly update to help our listed company clients and other market participants keep up to date with key developments relevant to issuers on the Main Market and AIM market of the London Stock Exchange.
Read moreTribunal confirms principal private residence relief available where development began before sale of land
In the recent Nunn case, the First-tier Tax Tribunal allowed the taxpayer's claim for principal private residence relief, where development on land began before its sale.
Read moreDORA Watch – August and September 2024
As financial entities and ICT service providers undergo the final stages of implementation of the Digital Operational Resilience Act (DORA) requirements into their systems and processes, it is imperative to understand the legal developments and ongoing updates arising from EU Member States as they go through their respective transposition and alignment processes. Through TerraLex - our global legal network, which provides us with access to 22,000 lawyers from highly regarded and carefully vetted law firms stretching more than 120 countries – we have collated legal updates focusing on DORA and its implications in EU jurisdictions.
Read moreEffective case management before the Tax Tribunal
Adam Craggs and Daniel Williams consider the various stages involved in a tax appeal to the First-tier Tribunal (Tax Chamber).
Read moreTax Bites – October 2024
Welcome to the latest edition of RPC's Tax Bites – providing monthly bite-sized updates from the tax world.
Read moreGrowth vs. client care: SRA’s warning on mergers and the risk to public trust
We consider the key takeaways from the SRA's warning notice to firms growing by merger, which urges firms to keep client interests central to their decision-making processes.
Read moreLawyers Covered - September 2024
It can be tough for busy lawyers to find enough time to service clients, make it safely through the regulation obstacle course, win new work and keep up-to-date with developments, but we've got you covered! Welcome to the August edition of our Lawyers Liability & Regulatory Update, in which we highlight the last month's key developments affecting lawyers and the professional risks they face.
Read moreTribunal allows taxpayer's appeal and confirms that non-residential SDLT rates applied
In Anne-Marie Hurst v HMRC [2024] UKFTT 00540 (TC), the First-tier Tax Tribunal allowed the taxpayer's appeal against HMRC's closure notice, in which HMRC concluded that the residential rate of SDLT was due on the purchase of a property because the sellers had used it as a 'hotel, inn or similar establishment' (HISE).
Read moreFinancial Crime Time - Your update from RPC: 2024 Q3
Welcome to the latest edition of our round-up of news making the headlines in the world of financial crime and compliance. Our aim is to give you an easily digestible, bite-sized overview of issues that are of interest and which may affect your business.
Read moreFirst conviction under section 2 CJA 1987 overturned – RPC Analysis
On 16 September 2024, the first conviction for failure to comply with a notice to provide documents or information required by the Serious Fraud Office ("SFO") was overturned by Judge Nicholas Rimmer at Southwark Crown Court. Although this case was highly fact specific, it may result in a less enthusiastic approach towards pursuing such convictions in the future.
Read moreHMRC's offshore information gathering powers
This blog considers HMRC's information gathering powers and, in particular, their application to High Net Worth individuals.
Read moreTaxing Matters: Taxation of agents' fees in the football industry
In this episode, Alexis Armitage, RPC's Taxing Matters host and Senior Associate in our Tax Disputes and Investigations team, is joined by colleague and Partner, Michelle Sloane, to discuss the latest issues surrounding the taxation of agents' fees in the football industry.
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