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Mandatory Disclosure Rules (MDR) hallmarks—Table

Mandatory Disclosure Rules (MDR) hallmarks—Table This Table sets out the hallmarks for the Mandatory Disclosure Rules (MDR) regulations in effect from 28 March 2023 which implement the Organisation for Economic Cooperation and Development (OECD) model rules in the UK and entirely revoke EU Directive 2018/822 DAC 6 in the UK from the same date. It is designed to be read alongside the main Practice Note: Disclosable cross-border tax arrangements—Mandatory Disclosure Rules (MDR). The generic hallmark for a Common Reporting Standard (CRS) avoidance arrangement is any arrangement where it is reasonable to conclude that it has been designed to circumvent CRS legislation or has been marketed as or has the effect of doing so. Just because an arrangement has the effect of non-reporting does not mean that it circumvents the CRS legislation—it would also need to be reasonable to conclude that the arrangement undermines the intended policy of the CRS legislation. There are also specific hallmarks which identify known features of CRS avoidance arrangements. These specific hallmarks have been...

Civil contempt proceedings—checklist

Civil contempt proceedings—checklist This Checklist on civil contempt proceedings summarises the different types of civil contempt, the key factors to consider when bringing proceedings for civil contempt, whether permission is required, how to make the application and what to include in it. This Checklist also considers the potential adverse costs consequences of making an unsuccessful application for civil contempt. Considerations Guidance Further guidance and information The different types of civil contempt It is important to understand the different types of civil contempt.Civil contempt proceedings under CPR 81 may be brought for non-compliance with a court order or undertaking or knowingly making a false statement in any affidavit, affirmation or other document verified by a statement of truth or in a disclosure statement. They can also be brought for interference with the due administration of justice or contempt committed in the face of court (ie where the contempt is directly in the court’s presence).It is often the case that a particular allegation straddles more than one type of civil contempt....

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Compensation event claims in the NEC3 Engineering and Construction Contract—flowchart

Compensation event claims in the NEC3 Engineering and Construction Contract—flowchart This flowchart illustrates the process of making a compensation event claim for additional time to complete the works and/or for additional payment under the NEC3 Engineering and Construction Contract. For more information on the NEC compensation regime generally, see Practice Notes: NEC contracts—interpreting the list of compensation events (clause 60) and NEC

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Deemed domicile for tax from 6 April 2017 to 5 April 2025

Deemed domicile for tax from 6 April 2017 to 5 April 2025 STOP PRESS: Abolition of non-dom regime and introduction of residence-based IHT regime Finance Act 2025 (FA 2025) which received Royal Assent on 20 March 2025, implements legislation to abolish the remittance basis of taxation and replace it with a residence-based regime, commencing on 6 April 2025. FA 2025 also replaces domicile as the key factor in establishing liability to inheritance tax. Other changes include amendment of the rules determining excluded property status, the abolition of protected settlements status of offshore trusts, and changes to overseas workday relief. For information on these changes, see Practice Notes: The abolition of the remittance basis of taxation from 2025–26 and A new residence-based regime for IHT from 2025–26. See also: Finance Bill Tracking Service: Key dates (Finance Bill 2025) and Finance Act 2025. At Summer Budget 2015, the government announced wide-ranging reforms to the deemed domicile rules and also to the excluded property rules...

Pre-entry planning

Pre-entry planning A person who is planning to come to the UK should consider the possible tax consequences before they arrive , so as to maximise the chances of reducing or eliminating any UK tax. For information on why certain pre-entry planning is necessary, see the Introductory guide to residence and domicile for UK tax purposes, Residence after 5 April 2013 and Domicile Practice Notes. For information on the taxation of employment income in the UK, see Taxation of earnings and benefits—overview and Practice Note: UK resident non-domiciliaries—earnings. The extent to which planning is necessary will vary from one individual to another, depending on circumstances: the person who is here for a short-term project, leaving their family in his home country, will have different issues to consider than the person who comes seeking permanent employment, for long-term study, or to get married. Individual advice may thus be necessary and this Practice Note is only a guide. Note in particular that it does not cover planning involving trusts. For information...

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Gift of land—transfer clauses

Gift of land—transfer clauses Use HM Land Registry Form TR1 and insert in the panels specified below the wording shown Panel 8—consideration The transfer is not for money or anything that has a monetary value Panel 9—title guarantee This transfer is made [with

Pensions warranties—defined contribution scheme—share purchase agreement

Pensions warranties—defined contribution scheme—share purchase agreement Replace Schedule 4, paragraph 19 of Precedent: Share purchase agreement—pro-buyer—corporate seller—conditional—long form with the following: 1 Pensions 1.1 Except as provided for by the Pension Scheme, the Company is not and has never participated in an arrangement or agreement to provide pensions, annuities, lump sums, gratuities or similar benefits on retirement, long-term ill-health or death, or pursuant to a pension sharing order, in relation to the service or historic service of a present or former employee of the Company or any other person, or for the benefit of that individual’s dependents. 1.2 All benefits under the Pension Scheme are provided on a money purchase basis. No assurance, guarantee or promise has been made to any employee of the Company as to the amount of benefits to be provided under the Pension Scheme. 1.3 Copies of the following documents have been Fairly Disclosed to the Buyer: 1.3.1 the governing documentation of the Pension Scheme including the trust deed and rules and all ancillary and...

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Where can I find information relating to FCA perimeter issues?

Where can I find information relating to FCA perimeter issues? The FCA's Perimeter Guidance manual (PERG) provides guidance about the circumstances in which authorisation is required, or exempt person status is available, including guidance on the activities which are regulated under the Financial Services and Markets Act 2000 (the Act) and the exclusions which are available. Application of the Perimeter Guidance manual (PERG) PERG applies to: • a person who is considering carrying on activities in the United Kingdom which may fall within the scope of the Act and is seeking guidance on whether he/she needs to be an authorised person • a person who seeks to become an authorised person under the Act and who is, or is considering, applying for Part 4A permission to carry on regulated activities in the United Kingdom • a person who is seeking guidance on whether any communication he/she may be seeking to make or cause to be made will be a financial promotion and be subject to the restriction...

Is a Part 20 defendant normally required to complete a directions questionnaire ‘DQ’ (Form N181), does this answer change if the claim would be fast track, but the Part 20 claim multi-track? If the notice of allocation sent to the claimant does not require budgets, disclosure discussion report etc, can you ignore and propose standard directions? Also, outside the disclosure pilot, can one use standard disclosure?

Is a Part 20 defendant normally required to complete a directions questionnaire ‘DQ’ (Form N181), does this answer change if the claim would be fast track, but the Part 20 claim multi-track? If the notice of allocation sent to the claimant does not require budgets, disclosure discussion report etc, can you ignore and propose standard directions? Also, outside the disclosure pilot, can one use standard disclosure? In this Q&A, the defendant’s Part 20 claim is a counterclaim that has been made against a person other than the claimant under CPR 20.5. Is a Part 20 defendant required to file a directions questionnaire? CPR 20 deals with counterclaims and other additional claims by the defendant. CPR 20.3(2) sets out which of the Civil Procedure Rules do not apply to additional claims (which, as defined in CPR 20.2(2) includes counterclaims). Included in the rules that do not apply to additional claims is CPR 26, which sets out the requirement for the parties to file a directions questionnaire (DQ)....

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VietJet must pay investor US$180m in plane lease dispute

Law360, London: A Vietnamese budget airline must pay the subsidiary of an international private investment company more than US$180m for failing to return its planes, as a judge ruled 17 April 2025 that a termination clause in the lease agreement was not a penalty provision.

ASA rulings—23 April 2025

Three complaints were received by the Advertising Standards Authority (ASA) regarding FX Compared Ltd t/a FXcompared. The complaints were about misleading advertising claims related to savings, commercial intent, and the representation of money transfer providers as the 'best' and 'top providers.' The ASA upheld the complaints.