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Tax and the City Review for October 2022 In Burlington, the FTT considers, for the first time, the purpose test which often appears in double tax treaties. The UT dismisses HMRC’s appeal in Aozora GMAC confirming that unilateral relief is available for US withholding tax on interest paid...
Managing cyber risks: key lessons from recent litigation and enforcement action This morning, the Information Commissioner’s Office (ICO) announced that it had fined Interserve Group Limited (Interserve) £4,400,000 for breaches of the UK GDPR which came to light following a May 2020 cyberattack. This is the fifth...
How should you respond to a personal data breach in Hong Kong? A major hotel group has recently reported a data leak to the Office of the Privacy Commissioner for Personal Data (the “PCPD”) in Hong Kong. Reportedly, it was hit by a cyber hack a few months ago and, as a result, certain data files concerning personal...
Competition & Regulatory Newsletter: European Commission adopts revised Informal Guidance Notice On 3 October 2022, the European Commission adopted a revised Informal Guidance Notice, which sets out the circumstances in which the Commission will consider providing companies with informal guidance concerning the application of EU competition law. The...
BLOG: One step closer to mutual adequacy for EU-US and UK-US data flows On Friday 7 October, US president Biden signed an Executive Order which, alongside the regulations issued by the Attorney General, implements into US law the agreement in principle announced in March on EU-US personal data flows (the Data Privacy...
BLOG: Riding into the sunset: the Retained EU Law (Revocation and Reform) Bill At the end of 2023, certain EU laws and rights retained as part of domestic law in the UK following its departure from the EU will fall away if the Retained EU Law (Revocation and Reform) Bill currently before the UK Parliament is enacted, save where they...
Real Estate Newsletter - October 2022 Topics include: Collateral warranties - Abbey Healthcare (Mill Hill) Limited v Simply Construct (UK) LLP Heads of Terms - Pretoria Energy Company (Chittering) Ltd v Blankney Estates Ltd Restrictive covenant in lease - Schwarzschild Ochs Pty Ltd v...
NFTs: The Essentials From the Royal Mint to Madonna, it seems like everyone is issuing (or considering issuing) NFTs at the moment. But what are they, and what issues do you need to consider? What is an NFT? NFT stands for ‘non-fungible token’. A type of cryptoasset, NFTs...
EFIG: European Banking Newsletter - October 2022 Development's in this month's edition include:  SREP - ECB appoints five experts to re-evaluate annual supervisory review process  CSDR - ECB opinion on proposed Regulation published in OJ  TLAC and MREL - SRB publishes press...
Growth Plan 2022 — Issues for corporates: a maximalist mini-Budget The only thing miniature about Kwasi Kwarteng's mini-Budget on Friday 23 September is the amount left to pay on your tax bill. At least, that's the chancellor's big idea. Reducing tax bills by cancelling tax policies Being part of the...