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Briefings in English - 2004

The Journey's End? Mawson/Scottish Provident

Jonathan Cooklin (London), The Tax Journal, 13 December 2004, page 12ff The article reviews and analyses the approach to construing taxing statutes following Barclays Mercantile Business Finance Ltd v Mawson and CIR v Scottish Provident Institution (December 2004)

Legal advice privilege

The House of Lords recently handed down its long-awaited judgment in the Three Rivers case concerning legal advice privilege. (November 2004)

Privilege and the disclosure regime

Sarah Falk and Sean Jeffrey (both London), The Tax Journal, 8 November 2004, page 5. The article sets out the current thinking of the 'magic circle' law firms on legal professional privilege (LPP) and the disclosure regime. (November 2004)

Implementing the Information and Consultation Directive

The Department of Trade and Industry (DTI) has now issued draft regulations, the information and consultation of employees regulations, implementing the EU Information and Consultation Directive in the UK. From April 2005 many UK companies will have to set up domestic works councils and inform and consult them about a wide range of business issues. All companies with more than 50 staff will be affected by March 2008. (October 2004)

Pensions: legal issues on additional voluntary contributions

This guide looks at the legal obligations on pension trustees in relation to additional voluntary contributions payable by members. It considers both the current legal issues and the likely changes from April 2006 under the Finance Act 2004 and the Pensions Bill. (October 2004)

The Prospectus Directive and its implementation in the UK

This briefing provides an overview of the EU Prospectus Directive (PD), which comes into effect on 1 July 2005, and of the proposals for its implementation in the UK. (October 2004)

Disciplinary and grievance issues

This briefing provides an overview of The Employment Act 2002 (Dispute Resolution) Regulations 2004 (the regulations), which came into force on 1 October 2004. (September 2004)

Pension fund investment

This briefing looks at the legal issues for trustees when considering investment of a pension fund. (September 2004)

Debenhams - The UK fails to discharge its obligations

Alan Sinyor (London), De Voil Indirect Tax Intelligence, August 2004, issue 999
This article examines Customs & Excise's approach to end the scheme operated by many high-street retailers for reducing their VAT liabilities.

Employee information and consultation regulations

Now that revised Information and Consultation of Employees Regulations have been published, employers must decide whether to enter into voluntary information and consultation arrangements before the Regulations come into force in April 2005. This briefing highlights the pros and cons of taking action now. (August 2004)

Employment issues - Financial services industry

This client guide provides a summary of the key employment issues for the financial services industry as well as practical ways of resolving the conflict between the regulatory and employment law requirements. (July 2004)

Pensions Bill increased regulator powers to hit corporates

Significant new changes to the Pensions Bill were announced recently. Although the Bill will not be in force before 6 April 2005, the changes may affect sellers and buyers under existing agreements and agreements currently being negotiated. (May 2004)

The Pensions Bill 2004: The Pension Protection Fund

This guide looks at the proposals in the Pensions Bill 2004 to create the PPF, including amendments made during the earlier Standing Committee debates (up to 22 April 2004). (May 2004)

The Pensions Bill 2004: The Pensions Regulator

This guide summarises the provisions relating to the Pensions Regulator, including amendments made during the earlier Standing Committee debates (up to 22 April 2004). (May 2004)

Pensions Bill 2004

The Pensions Bill 2004 introduces the widely publicised Pensions Protection Fund. A new Regulator will have wide powers to seek to reduce claims on the protection fund and protect members' interests. The minimum funding requirement is finally abolished and the framework for the new scheme specific funding approach is introduced. Compulsory member nominated trustees are introduced along with an apparent attempt to increase (or clarify?) trustees' duties. (April 2004)

The Miles Report on the UK mortgage market

This briefing looks at the recommendations of the Miles Report on the UK mortgage market, which was commissioned by the Treasury in 2003 as part of a series of studies on matters affecting long-term fiscal policy with the aim of maintaining stability in the British economy. (April 2004)

Equitable Life: Corporate governance issues

The recent release of Lord Penrose's report on Equitable Life highlights the dangers to companies of ineffectual boards and demonstrates the need for board members to really understand the business for which they are responsible. The report identifies a number of areas in which the non-executive members of the board of Equitable Life effectively delegated their responsibilities to the executive management, leaving critical decisions to be made by company executives. (March 2004)

EU ETS: the UK's proposed national allocation plan

An EU-wide emissions trading scheme will come into force on 1 January 2005. The UK government's draft plan for the allocation of emissions to national installations under this scheme raises many legal, commercial and political issues, has already caused significant controversy and is likely to give rise to legal challenge in the months ahead. This briefing highlights some of the most significant issues in the current draft plan. (February 2004)

IBA Health: back to shades of grey

On 19 February 2004 the Court of Appeal restored a large measure of the UK Office of Fair Trading's (OFT) discretion to clear any merger that the OFT reasonably believes is unlikely to lead to a substantial lessening of competition. (February 2004)

Late payment of pension contributions by employers

This briefing looks at the consequences if employers pay contributions late to pension schemes. In particular, it looks at the sanctions imposed and whether any sanction is imposed in practice where contributions are paid only a few days late. (February 2004)

Simplifying pension taxation: Mainstream design issues for pension schemes

On 10 December 2003 the government published its second consultation document on pension simplification, Simplifying the taxation of pensions: the government's proposals. If enacted the government's proposals will replace the existing pension tax rules from 6 April 2005. Many of the changes will allow greater flexibility for schemes not only for high earners but also for the vast majority of scheme members. This guide looks at the implications for schemes in relation to 'mainstream' benefit design and administration. (February 2004)

Partnering and PPP: a way forward?

Partnering is increasingly being used on PFI and PPP projects. This briefing summarises what is meant by partnering, what it might offer and at what cost, and the risks it can give rise to. (January 2004)

Regulation of general insurance

The FSA's new conduct of business rules for general insurance are to be published in final form this month, with the new regime to take effect on 14 January 2005. This briefing outlines the scope of the new regime and highlights its likely effect on insurers and insurance intermediaries. (January 2004)

With-profits business - Principles and practices of financial management

The Financial Services Authority (FSA) launched a review of with-profits business in 2001.This guide looks at the FSA's requirements, focusing on the relationship between PPFM and the need to treat customers fairly and on the likely consequences for insurers that act in breach of PPFM. (January 2004)

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