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Tax and the City Review - June 2024 In another case involving both commercial and unallowable purposes, the Court of Appeal in Kwik-Fit decides that some of the loan relationship debits can be allocated to the commercial purpose. In a blow to taxpayers, the Court of Appeal in Hotel La Tour ... Employment Bulletin - June 2024 The main political parties published their Election Manifestos last week. By far the most detailed proposals on employment aspects are from the Labour Party, which has recently published Labour’s Plan to Make Work Pay – Delivering a New Deal for Working P... UK Energy and Infrastructure: Reviewing Conservative and Labour manifestos The UK General Election on 4 July 2024 takes place in the broader context of heightened geopolitical tensions and inflationary pressures, with energy security, net zero targets, and economic growth remaining key concerns on both the national and internati... Competition & Regulatory Newsletter: European Commission launches first in-depth merger probe under Foreign Subsidies Regulation On 10 June 2024, the European Commission announced that it has launched an in-depth investigation under the Foreign Subsidies Regulation into the acquisition by Emirates Telecommunications Group Company PJSC of sole control of PPF Telecom Group BV, exclud... Insurance Newsletter - June 2024 In this newsletter we discuss: artificial intelligence and insurance, including insights from our recent webinar where are we with Solvency II reform? Consumer Duty deadlines current trends and themes from around Europe, presented by a number of our... BLOG: Lessons learned from JTI and other recent unallowable purpose cases The main lesson to be learned is that it all depends on the specific facts and how they are presented to the fact-finding tribunal! JTI is the third unallowable purpose case decided by the UK Court of Appeal this year, the previous two being BlackRock and... BLOG: Change: Labour Party Manifesto 2024 Latest polling figures for the UK’s general election on 4 July continue to indicate a change in government as Labour, the main opposition party, enjoys a c. 20 percentage point lead over the Conservative Party which has governed the UK since 2010. What mi... EFIG: European Banking Newsletter – June 2024 Developments in this month's edition include: Proposed regulation and directive on payment and electronic money services - ECB publishes opinion Draft RTS on equivalent mechanism for unfinished property under CRR - EBA consults MREL policy - upd... BLOG: Good news for secondary debt markets in interest withholding tax case before UK Upper Tribunal HMRC v Burlington Loan Management DAC is an important decision for the smooth running of secondary debt markets. It is also a helpful precedent for tax authorities, taxpayers and tax advisers alike as they spend more time in the future considering when an... Competition & Regulatory Newsletter: DMCC Act receives Royal Assent On 24 May 2024, the long-awaited Digital Markets, Competition and Consumers Act 2024 received Royal Assent. The Act introduces sweeping reforms to UK competition law and consumer protection. It creates a new ex-ante regulatory regime aimed at increasing c...