Tied agent meaning

In this issue: VAT Anti-avoidance Employment taxes Taxes management and litigation Finance Daily and weekly news alerts Dates for your diary Trackers New and updated content Useful information VAT Court of Appeal—facilitators of VAT fraud can be deregistered even if they make legitimate taxable supplies (Impact Contracting Solutions Limited v HMRC) In Impact Contracting Solutions Ltd [2025] EWCA Civ 623, the Court of Appeal affirmed the Upper Tribunal’s finding that HMRC is entitled to cancel a person’s VAT registration for reasons tied to tax fraud, even where that person also makes bona fide taxable supplies, so long as deregistration is a proportionate response on the facts. See News Analysis: Court of Appeal—facilitators of VAT fraud can be deregistered even if they make legitimate taxable supplies (Impact Contracting Solutions Limited v HMRC). VAT Regulations amended The Value Added Tax (Amendment) Regulations 2025, SI 2025/578, amend the Value Added Tax Regulations 1995, SI...

This Practice Note has been archived and is no longer maintained. It summarised key legal and regulatory changes expected to affect in-house lawyers in 2022. While some were definitive, others were more speculative or tied to the parliamentary timetable. It was last updated on 25 November 2022. Commercial The table below presents edited highlights that are not sector specific. For more details, see: Commercial tracker Category Details Expected or actual date Unjust enrichment and contract drafting (Updated) In Barton v Gwyn-Jones [2019] EWCA Civ 1999, the Court of Appeal considered whether the so-called ‘Costello principle’ prevented an unjust enrichment claim by an agent for an introduction fee where an oral contract governed the contractual arrangement. The court’s analysis turned on the precise interpretation of the remuneration terms and offers a clear and valuable lesson on the failure of parties to provide for all possible outcomes by express contractual agreement. See News Analysis: Contractual silence—a gateway for unjust enrichment (Barton v...

Loan market and developments Activity in Finland’s corporate lending space has been broadly consistent over the past decade. That said, 2019 proved more animated, with a sustained rise in corporate loan values and a widening in the overall size of the market. Market sentiment is generally regarded as borrower‑friendly... Financing structures once mainly tied to English law documentation—such as SSRCF+senior notes deals—have been adopted with growing frequency in transactions governed by Finnish law. Proportionally, the most active areas have been industrial, scientific and technical sectors, together with real estate finance... Finland’s bond market was brisk in 2018, registering a 29% uplift in total value compared with the previous year. Nevertheless, the overall rate of expansion in the bond markets is easing... Regarding forthcoming matters that may affect the loan markets, an electronic register for housing...

Background This Practice Note outlines, at a high level, the definition of a client in chapter 3 of the Financial Conduct Authority’s Conduct of Business sourcebook (COBS), and how such clients are classified as retail clients, professional clients or eligible counterparties for regulatory purposes. The COBS 3 provisions stem from the Markets in Financial Instruments Directive (Directive 2004/39/EC) (MiFID). MiFID was superseded by the recast MiFID (Directive 2014/65/EU) (MiFID II) together with the EU Markets in Financial Instruments Regulation (Regulation (EU) 600/2014, OJ L 173, 12.6.2014) (EU MiFIR) (collectively, the EU MiFID II framework). As amended, most of the EU MiFID II framework has been in force since 3 January 2018, and EU Member States had until 3 July 2017 to implement MiFID II into their national law. The MiFID II Directive introduced changes to the client categorisation rules that existed under MiFID. The FCA consulted on its approach to implementing revisions to the former client categorisation regime brought in by MiFID II in consultation paper CP16/29: Markets in...