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Break fees and VAT HMRC had for some time taken a somewhat arbitrary position in relation to the VAT liability of payments made by a party terminating a contract, such as a break fee under a lease.  In their view, the treatment depended upon whether the termination...
Enhanced Listing Regime for Professional Debt in Hong Kong Summary of updates to Chapter 37 of Main Board Listing Rules and guidance on disclosure standards for listing regime for debt issues to professional investors. Summary On 21 August 2020, the Stock Exchange of Hong Kong Limited (SEHK) updated Chapter 37...
Route to calmer seas? Hong Kong Competition Commission prepared to accept commitments from the Seaport Alliance The Hong Kong Competition Commission (HKCC) announced on 12 August 2020 that it is prepared to accept certain proposed commitments offered by the members of the Hong Kong Seaport Alliance (Alliance) to remedy the HKCC’s concerns under the First...
Hong Kong Private Equity – Game Changer? An overview of the recent private equity initiatives introduced by the Hong Kong Government, including the new tax concession for carried interest. On 7 August 2020 the Financial Services and the Treasury Bureau issued the consultation paper &lsquo...
Competition & Regulatory Newsletter UK Supreme Court issues judgment in telecommunications FRAND licensing cases On 26 August 2020 the UK Supreme Court delivered its long-awaited judgment concerning global telecommunications licensing in the Unwired Planet v Huawei and Huawei and ZTE v...
India's transparent taxation initiative - the angel (if any) will be in the detail On 13 August 2020, the Prime Minister of India announced a number of steps to make the Indian tax system "seamless, faceless and painless". For international investors familiar with the Vodafone saga (where the Indian government legislated with...
Getting the Deal Through: Tax Controversy 2021 Richard Jeens is the contributing editor of the 8th edition of this publication which summarises the framework for tax disputes in fifteen different jurisdictions, including the US and the UK. Richard Jeens, Dominic Robertson and Charles Osborne are...
HMRC's uncertainty principle Yesterday marked the deadline for responses to the HMRC consultation document "Notification of uncertain tax treatment by large business".  This is the proposal that large businesses should be required to notify HMRC of uncertain tax...
Incentives Bulletin - August 2020 Capital Gains Tax Chancellor requests review of CGT; HMRC Employment Related Securities Bulletin 36 focusing on COVID-19; Shareholder approval of remuneration plans Welcome to the August edition of our Incentives Bulletin, updating you on the latest...
Part VII transfer from LGAS to ReAssure In this briefing note, Robert Chaplin (Partner) and Ed Steward (Associate) discuss key aspects of Zacaroli J’s landmark judgment in the highly anticipated Part VII transfer of the mature savings business of Legal and General Assurance Society to...