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BLOG: The 'super-deduction': unobtainable by design? The draft Energy (Oil and Gas) Profits Levy Bill published on 21 June 2022 (the Bill) shows the difficulty, and danger, of using purpose tests in legislation when the Government is seeking to use tax to influence behaviour. It can have the ... BLOG: Energy (Oil and Gas) Profits Levy Bill Pressure on the Government to take action on the cost of living crisis led to the announcement of a new “temporary” and “targeted” tax on certain oil and gas profits arising from 26 May 2022. A draft Energy (Oil and Gas) Profits Levy Bill&n... The operation of the NSIA so far: the regime's first Annual Report On 16 June 2022, the UK government published the National Security and Investment Annual Report 2022, providing information about the functioning of the regime in its first three months of operation.  The government also published a Memorandum of Und... The potential of hydrogen: a guide to key European markets This guide is intended to assist investors to navigate the changing regulatory framework for hydrogen across the value-chain and the emerging standards for low carbon hydrogen. Momentum is building for the development of a low carbon hydrogen economy in... Tax and the City Review for June 2022 The OECD’s consultation on the proposed regulated financial services exclusion from the new taxing right for market jurisdictions known as Amount A of pillar one provides an insight into how the exclusion will apply. The OECD’s report for the ... SFC proposes to expand its enforcement powers SFC’s consultation on proposed amendments to the Securities and Futures Ordinance SFC’s consultation on proposed amendments to the Securities and Futures Ordinance Summary On 10 June 2022, the Securities and Futures Commission (the SFC) pub... Employment Bulletin - June 2022 Topics covered in this bulletin: Future of Work Review No injunction to enforce 12 month non-compete clause Dismissal for refusing to return to work for health and safety reasons was not automatically unfair Horizon scanning Future of Work Review ... BLOG: (Greater) goods and (community) services: is it time we rethought charity VAT? Registered charities in the UK benefit from a broad exemption from most tax, so they might be forgiven for assuming that they are also exempt from VAT - but that is not the case. To make it more confusing, the law as HMRC applies it can mean that the same... Competition & Regulatory Newsletter: CMA requires CHC to unwind helicopter services deal The Competition and Markets Authority (CMA) has ordered CHC Group LLC to unwind its £10 million completed acquisition of Babcock’s oil and gas offshore transportation services business. The CMA announced the decision on 1 June 2022 in its fina... Trucks Litigation: CAT certifies the RHA's opt-in claim and rejects UKTC's opt-out On 8 June 2022, the Competition Appeal Tribunal (the CAT) delivered its long-awaited certification judgment in connection with two applications for a Collective Proceedings Order (CPO) for follow-on damages in the Trucks litigation. On 8 June 2022, the C...