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Thinking - Publication
All is not (necessarily) lost: Crypto crime recovery
With over 2 million people in the UK now holding and using cryptocurrency, and the Chancellor announcing that a government backed non-fungible token ("NFT") is to be issued by the Royal Mint this summer, the market for crypto-assets is expected to continue to grow in the coming months and years; so much so that legislation is planned to implement a new regulatory regime for the crypto market.
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Thinking - Blog
FTT prevents HMRC from having two bites of the cherry!
In Lady Henrietta Pearson v HMRC [2014] UKFTT 890 (TC), the First-tier Tribunal (Tax Chamber) ('FTT') concluded that HMRC had "ignored" its previous decision by seeking to reduce the amount of a VAT refund which it had ordered HMRC make to Lady Henrietta Pearson ('the taxpayer').
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Thinking - Blog
FCA consults on new reporting obligations for (i) incidents and (ii) third party arrangements
On 13 December 2024, the FCA published consultation paper CP24/28 (the CP) on proposals for firms to report on operational incidents and, separately, on material third party arrangements. The CP mirrors similar proposals put forward by the PRA and Bank of England on the same day and is designed to align with current international standards (e.g. the EU Regulation on digital operational resilience (DORA)).
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Thinking - Snapshot
EU publishes draft Code for general-purpose AI models
What measures are proposed by the EU AI Office to regulate general-purpose AI (GPAI) models?
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Thinking - Snapshot
Ofcom rolls out implementation phases for compliance with the Online Safety Act
What is Ofcom’s timeframe for implementation of the Online Safety Act (OSA) and what actions will in-scope services need to take to ensure compliance?
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Thinking - Snapshot
New Safer Phones Bill aims at “making social media less addictive” for young people
How does the Safer Phones Bill intend to protect young people online?
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Thinking - Snapshot
Two years on from the Digital Services Act
How has the European Commission (Commission) enforced the Digital Services Act (DSA) since its inception?
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Thinking - Snapshot
UK’s Digital Regulation Co-operation Forum announces new AI and Digital Hub Pilot
What is the AI and Digital Hub and how can AI innovators use it?
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Thinking - Snapshot
EU designates Apple a gatekeeper for iPadOS but not for iMessage
Can a business avoid being designated a “gatekeeper” under the Digital Markets Act (DMA) even if it satisfies the quantitative criteria under the DMA?
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Thinking - Snapshot
Online Safety Act: Ofcom consults on draft codes to protect children online
What must businesses do to ensure online safety for children under the latest codes of practice published by Ofcom?
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Thinking - Snapshot
What in the AI is going on… April to June 2024
Meta launched its newest generation of its open-source LLM (large language model), Llama 3, which is the technology that powers its AI systems. The launch of Llama 3 signals a step closer to human-like AI that can reason and bestow a memory. OpenAI also discussed plans for its next AI model, GPT-5. Like Llama 3, GPT-5 will see improvements to the model’s planning and reasoning capabilities, going beyond its current capability to deal with discrete tasks. GPT-5 is expected to be released later in the year.
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Thinking - Snapshot
EU AI Act is signed!
What are the core elements of the EU’s Artificial Intelligence Act and how does it impact the regulation of AI systems?
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Thinking - Snapshot
CMA publishes update paper on AI Foundation Models
What is the state of play for the market of AI Foundation Models (FM) and what issues in the market is the Competition and Markets Authority (CMA) most concerned about?
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Thinking - Snapshot
New EU guidelines on mitigating risks for electoral
What are the European Commission’s new guidelines and how do they protect the integrity of electoral processes?
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Thinking - Blog
AI in auditing: Embracing a new age for the profession
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?
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Thinking - Blog
The November 2023 AI safety summit and the UK's direction of travel
The government has confirmed that the UK AI safety summit will be held at Bletchley Park on 1 and 2 November 2023.
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Thinking - Blog
Telecoms 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).
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Thinking - Blog
Rolls-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.
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Thinking - Blog
A 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.
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Thinking - Blog
New developments in AI may put law firms at greater risk of phishing fraud
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.
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Thinking - Blog
Major overhaul of UK telecoms regulation to go ahead by the end of December 2020
The UK still pushing ahead with implementing wide ranging European regulatory changes, but obligations for many "over the top" providers are likely to be postponed.
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Thinking - Publication
RICS disciplinary process: an overview for surveyors
Download our complete guide to the procedure involved in a disciplinary investigation against a chartered surveyor.
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Thinking - Publication
CAT Collective Proceedings - Summer 2024 update
Developments in the UK’s competition collective proceedings regime continue apace with new claims recently issued in the Competition Appeal Tribunal (CAT).
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Thinking - Blog
The CAT's new approach: I can't afford a carriage (dispute)
Since the collective proceedings regime in the UK's Competition Appeal Tribunal (CAT) kicked off, a number of carriage disputes have arisen. So-called 'carriage disputes' arise when there are two or more competing proposed class representatives (PCRs) seeking certification (and therefore 'carriage') of overlapping class actions.
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Profile
Thinking - Blog
Upper Tribunal considers when a dividend becomes 'due and payable' for tax purposes
In HMRC v Gould [2024] UKUT 00285 (TCC), the Upper Tribunal dismissed HMRC's appeal and confirmed that an enforceable debt arises when a company pays an interim dividend to one shareholder but not another of the same class.
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Thinking - Blog
Loan Charge regime - High Court strikes out taxpayers' Part 8 claims as abuse of process
In allowing HMRC's appeal, the High Court determined that the taxpayers' claims in respect of the Loan Charge should be struck out as an abuse of process.
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Thinking - Blog
Upper Tribunal allows taxpayers' appeals on 'deliberate' behaviour
In the Outram case, the Upper Tribunal overturned the First-tier Tribunal's decision concluding that it had erred in law when deciding that the taxpayers had deliberately filed an inaccurate return without considering the subjective knowledge and intention of the taxpayers concerned.
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Thinking - Blog
Will 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.
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Thinking - Blog
Preparing 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.
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Thinking - Podcast
Taxing 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.
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Thinking - Blog
Tribunal 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.
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Thinking - Publication
Tax Bites – December 2024
Welcome to the latest edition of RPC's Tax Bites – providing monthly bite-sized updates from the tax world.
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Thinking - Blog
Court 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.
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Thinking - Podcast
Taxing 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.
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Thinking - Blog
Tribunal 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.
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Thinking - Publication
How 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.
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Thinking - Blog
Contentious Tax Quarterly Review: November 2024
Adam Craggs and Harry Smith of RPC provide a Contentious Tax Quarterly Update discussing recent developments in tax litigation.
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Thinking - Blog
Tribunal 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.
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Thinking - Publication
Tax Bites – November 2024
Welcome to the latest edition of RPC's Tax Bites – providing monthly bite-sized updates from the tax world.
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Thinking - Blog
Autumn Budget 2024: summary of implications for businesses and individuals
Adam Craggs explores the key implications of the Autumn Budget 2024 for businesses and individuals.
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Thinking - Blog
Tribunal 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'.
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Thinking - Blog
HMRC'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.
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Thinking - Podcast
Taxing 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.
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Thinking - Blog
Tribunal 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.
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Thinking - Blog
Tribunal 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.
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Thinking - Blog
Effective 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).
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Thinking - Publication
Tax Bites – October 2024
Welcome to the latest edition of RPC's Tax Bites – providing monthly bite-sized updates from the tax world.
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Thinking - Blog
Tribunal 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).
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Thinking - Blog
HMRC's offshore information gathering powers
This blog considers HMRC's information gathering powers and, in particular, their application to High Net Worth individuals.
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