58 results found

Construction sector administrations fell for the second consecutive month in August, while new guidance on environmental delivery plans offers developers an alternative route to meeting environmental obligations. Meanwhile, major regeneration projects in Derby and Luton signal continued investment in UK infrastructure despite ongoing industry challenges.

The First-tier Tribunal examined whether film production partnerships could claim tax relief on both equity-funded and debt-funded expenditure, distinguishing between genuine trading activities and arrangements designed primarily to enhance tax benefits. The case centered on partnerships that invested in film production through a combination of direct contributions and bank loans, with HMRC challenging the tax treatment of these transactions some 20 years after the relevant tax years.

HMRC has introduced anti-avoidance information notices (AAINs) under Part 6 of the Finance Act 2026, granting significantly broader powers to investigate tax avoidance promotion and facilitation. These notices can target a wide network of connected persons—including directors, advisers, and intermediaries—without requiring proof that tax was lost or that arrangements were ineffective. With substantial civil and criminal penalties for non-compliance, businesses and advisers must understand who ca

The Supreme Court examined whether a contractor could terminate a construction contract following two late payments by the employer, even though the first payment was made within the contractual cure period. The case centered on interpreting standard JCT contract termination provisions and whether a 'repeated default' clause required an earlier accrued right to terminate.

The Upper Tribunal examined whether a limited liability partnership was carrying on a business with a view to profit when loan notes were transferred to it, determining the application of capital gains tax provisions. The case explores the interpretation of 'business' in tax legislation and the application of the Ramsay principle of purposive statutory construction in the context of a tax mitigation arrangement.

A High Court ruling has determined that the Solicitors Regulation Authority cannot compel production of legally privileged documents under section 44B of the Solicitors Act 1974, fundamentally limiting the regulator's investigative powers. The decision raises critical questions about the scope of regulatory investigations when client privilege is asserted, particularly in cases involving third-party complaints where the firm and client's interests align.

HMRC has issued several significant guidance updates affecting transfer pricing corrections, construction industry schemes, and short-term business visitors, while recent court decisions provide crucial clarity...

In Take 3.9 TV Partnership and others v HMRC [2026] UKFTT 696 (TC), the First-tier Tribunal (FTT) held that the appellants were carrying on a genuine trade and therefore the equity-funded portion of their film production expenditure qualified for tax relief, but the debt-funded expenditure was incurred only to enhance tax relief and therefore did not qualify for tax relief

This weekly round-up examines key developments in the construction sector, including government initiatives to protect consumers hiring home improvement traders, recent court decisions on implied contractual terms and indemnity costs, and the surge in data centre construction driven by AI demand. The analysis covers regulatory changes, case law affecting construction disputes, and market trends shaping the industry's insurance landscape.

RPC's Tax Bites delivers monthly updates on critical UK tax developments, including HMRC guidance changes, tribunal decisions on employment status and film partnerships, and evolving compliance requirements. This edition examines landmark cases that clarify the boundaries between employment and self-employment, explores when film production expenditure qualifies for tax relief, and analyzes HMRC's approach to payment reallocation and penalties.

This comprehensive weekly roundup examines the FCA's proposed streamlining of investment fee disclosures, exploring whether standardized cost reporting will enhance consumer confidence or introduce new complexity. The bulletin also covers Companies House's intensified identity verification enforcement, PASA's concerns about the new defined benefit surplus regime, and the FCA's research revealing widespread misconceptions about AI-generated investment advice among young investors.

Vaping duty stamps are highly secure labels indicating that the vaping product is legal. They must be rectangular, meet specific dimension requirements and be made from bespoke secure paper

This comprehensive regulatory update examines critical developments affecting legal professionals, from the landmark determination of the SRA's investigative powers under Section 44B to proposed reforms in costs dispute resolution and compliance officer roles. The analysis explores how recent court decisions, regulatory changes, and industry proposals are reshaping the landscape of legal practice management and professional liability.

This comprehensive weekly roundup examines critical regulatory developments affecting UK financial services, from the FCA's new non-financial misconduct regime to inheritance tax changes for pension pots and emerging risks in the private credit market. The analysis covers enforcement actions, cybersecurity challenges posed by frontier AI, and supervisory reviews of unclaimed Child Trust Funds, providing essential insights for financial services professionals navigating an evolving regulatory landscape.

This September 2026 VAT update from RPC examines HMRC's latest guidance on education VAT exemptions, VAT group refund procedures, and fund management services, while analyzing three significant tribunal decisions involving VAT fraud knowledge attribution, input tax recovery on luxury vehicles, and the VAT treatment of outsourced payroll arrangements.

Directors face renewed scrutiny over their duties when companies trade at a loss, as the Court of Appeal clarifies the boundaries of fiduciary responsibility and the Insolvency Service reports record enforcement actions. Meanwhile, pension trustees grapple with complex affordability tests for inflation-linked increases, and employers confront stricter standards for part-time worker treatment and equal pay transparency.