Financial advisers rile at plans to shift offshore tax notification burden November 23, 2016 Financial advisers will have to tell UK authorities about clients' complex offshore tax structures, according to new government proposals. Today's Autumn Statement contained plans to consult "on a new legal requirement for intermediaries arranging complex structures for clients holding money offshore to notify HM Revenue & Customs (HMRC) of the structures and the related client lists". Read more: Brexit [...]
Ministry of Justice handed extra funds by Philip Hammond in Autumn Statement November 23, 2016 Philip Hammond has today agreed to give the Ministry of Justice emergency funding to help it tackle growing issues with prison safety. Although the chancellor revealed that spending for most departments would remain unchanged from last year's spending review, he made an exception for the justice department to deal with safety issues he described as "urgent". [...]
The European Commission unveils US-style protection for insolvent companies November 22, 2016 A radical cross-border shake-up of insolvency laws was today proposed by the European Commission. An EU draft directive was issued proposing to give companies more breathing space to sort out debts instead of being forced to cease trading. Similar to US-style Chapter 11 proceedings, companies would be shielded from creditors taking action against a company during a four month window. Such a shield [...]
Fraud squad to ask for Barclays tribunal to take place behind closed doors November 20, 2016 The fraud squad will tomorrow ask for an employment tribunal for an ex-Barclays exec to take place in private, on the grounds it could compromise its ongoing investigation into the bank. Since 2012, the Serious Fraud Office (SFO) is currently investigating Barclays' handling of an emergency funding exercise back in 2008. As part of that, the fraud [...]
Personal injury lawyers disappointed at ministry of justice plans November 17, 2016 Personal injury lawyers reacted angrily to government proposals to clamp down on spurious whiplash claims. The ministry of justice will reveal proposals today, in an attempt to reduce the spiralling number of whiplash claims the insurance industry say are putting huge inflationary pressure on motor premiums. Read more: Churchill owner says "ooh yesh" after bumper motor [...]
An open letter to the chancellor: What the accountancy profession want from the Autumn Statement November 16, 2016 Dear chancellor, I am writing to outline ACCA (the Association of Chartered Certified Accountants)’s priorities for the Autumn Statement and Spending Review. ACCA has recently concluded a wide-ranging consultation with our members operating at senior levels across all parts of the public sector. Our consultation focused on the priorities of public sector decision-makers ahead of [...]
Article 50 case outcome could delay Brexit, Supreme Court judge cautions November 15, 2016 Brexit could be delayed if government loses its appeal on the Article 50 case, the deputy president of the Supreme Court has cautioned. In a speech in Kuala Lumpur, which was delivered last week but the text not published until today, Lady Brenda Hale mused that, if the appeal did not swing in government's favour, it [...]
Big Four audit giant dragged into Brexit row November 15, 2016 Number 10 has today scrambled to distance itself from the details of a leaked memo which warned government was lagging behind on its Brexit plans. The leaked document, which was produced by professional services giant Deloitte and obtained by the Times, claimed government may need to take on as many as 30,000 additional staff members [...]
Addleshaw Goddard gears up for merger with HBJ Gateley in Scotland November 14, 2016 Law firm Addleshaw Goddard is planning to expand its offering in Scotland, today announcing it is in the early stages of merging with HBJ Gateley. HBJ Gateley, a Scottish firm associated with but independent from listed law firm Gateley, was the joint eighth largest Scottish law firm by turnover in 2015-16, pulling in £21.9m. The firm has three offices, in Aberdeen, Edinburgh, [...]
Rubik’s Cube legal puzzle leaves toy maker frustrated November 10, 2016 The makers of the world-famous Rubik's Cube have been frustrated by the top European court. Seven Towers, which manages Rubik's Cube intellectual property rights, have been told the cube's distinctive shape is not sufficient to grant it protection against copycats. German toy maker Simba Toys brought a challenge against a 1999 European Union Intellectual Property Office (EUIPO) trademark [...]