‘UK consumers are paying millions more than they expect for personal loans as the gap between advertised and actual interest rates on such borrowing grows.’
The Independent, 7th June 2018
Source: www.independent.co.uk
‘The issue in the appeal is whether interest is included in the starting point under the Magistrates’ Courts Act 1980, s 79(2) for the giving of proportionate credit for part payment of a confiscation order.’
UKSC Blog, 24th January 2018
Source: ukscblog.com
‘Statutory interest paid by a company in administration on a surplus is ‘yearly interest’ for UK tax purposes and must therefore be paid after deduction of basic rate tax, the Court of Appeal has decided, overturning a previous decision of the High Court.’
OUT-LAW.com, 5th January 2018
Source: www.out-law.com
‘The Supreme Court (‘SC’) on 1 November 2017 handed down judgment in Littlewoods Ltd and others v. HMRC [2017] UKSC 70. In a judgment of Lords Reed and Hodge (with whom Lords Neuberger, Clarke and Carnwath) agreed, the SC has unanimously allowed HMRC’s appeal against the decisions below of both Henderson J and the Court of Appeal (Arden, Patten and Floyd LJJ). The headline grabbing outcome is that approximately £17 billion of compound interest does not have to be paid by the Revenue to taxpayers who overpaid VAT and made Fleming claims for recovery. But the SC’s reasoning is of much wider interest.’
Blackstone Chambers, 2nd November 2017
Source: www.blackstonechambers.com
‘On 07.09.2016, the Lord Chancellor announced his much awaited response to the Consultation commenced by his predecessor following the decisions made on 27.02.2017 to lower the discount rate from 2.5% to -0.75%.’
Byrom Street Chambers, September 2017
Source: www.byromstreet.com
‘The Court of Appeal has determined the extent of creditors’ entitlements to statutory interest on their debts and the correct approach for calculating their entitlement. It has ruled on the entitlement of representative creditors of Lehman Brothers International (Europe) (LBIE) to the surplus funds and on the calculation of the statutory interest due to them.’
OUT-LAW.com, 10th November 2017
Source: www.out-law.com
‘The UK’s Financial Conduct Authority (FCA) is to maintain a cap set on the interest and fees charged on high-cost short-term loans after a review concluded it had benefited consumers.’
OUT-LAW.com, 31st July 2017
Source: www.out-law.com
‘Paola Fudakowska & Henrietta Mason provide a wills & probate update.’
New Law Journal, 19th May 2017
Source: www.newlawjournal.co.uk
‘The legislation to introduce restrictions on corporation tax deductions for interest payments will not be included in the UK Finance Bill that will become law before the general election. The government tabled amendments to the bill withdrawing most of its provisions before it went through the remaining House of Commons stages on 25 April.’
OUT-LAW.com, 27th April 2017
Source: www.out-law.com
‘Amended draft legislation to restrict tax relief for interest payments includes changes to a new ‘public infrastructure’ exemption which will be helpful for infrastructure and real estate companies, according to a tax expert.’
OUT-LAW.com, 21st March 2017
Source: www.out-law.com
‘The “faithful application” of the principles set down by the House of Lords in Wells v Wells was the reason Lord Chancellor Liz Truss rejected calls to take a “mixed portfolio” approach to setting the discount rate, in a move one leading observer suggested showed “nimble political footwork”.’
Litigation Futures, 28th February 2017
Source: www.litigationfutures.com
‘Campaigners led by Cherie Booth QC said that they would continue their fight against the changes to taxation of buy-to-let income after their application to launch a judicial review of the new law was turned down.’
Daily Telegraph, 7th October 2016
Source: www.telegraph.co.uk
‘William Latimer-Sayer QC considers the case of XP V Compensa Towarzystwo SA v Przeyslaw Bejger [2016] EWHC 1728 (QB) in which Whipple J had to grapple with a number of tricky quantum issues.’
Cloisters, 25th July 2016
Source: www.cloisters.com
‘HHJ Pelling QC considered whether, when considering if a claimant had beaten its Part 36 offer, the court should simply compare the amount of the judgment with the offer the claimant had made or if account should be taken of the interest that had accrued in the period leading up to the trial.’
Zenith PI Blog, 13th July 2016
Source: www.zenithpi.wordpress.com
‘Four former Barclays traders were sentenced to as long as 6 1/2 years in prison for manipulating Libor as judges continued meting out tough punishments for white-collar crime.’
The Independent, 7th July 2016
Source: www.independent.co.uk
‘A claimant who only beat his part 36 offer at trial because of the interest on the damages awarded through to judgment is not entitled to enhanced costs, the High Court has ruled.’
Litigation Futures, 4th July 2016
Source: www.litigationfutures.com
‘Three former Barclays traders have been found guilty of conspiring to fraudulently manipulate global benchmark interest rates in a success for the UK’s Serious Fraud Office.’
The Guardian, 4th July 2016
Source: www.guardian.co.uk
‘Fines imposed by the Financial Conduct Authority (FCA) in the first half of 2016 have fallen to £7.2m – less than 1% of the figure of a year before.’
The Guardian, 3rd July 2016
Source: www.guardian.co.uk
‘The 10% uplift claimants receive for beating their part 36 offer includes contractual interest on the sum won at trial, the High Court has ruled.’
Litigation Futures, 27th June 2016
Source: www.litigationfutures.com
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