News

May 23rd, 2023

Strengthening Corporate Responsibility: The New Failure to Prevent Fraud Offence

The New Failure to Prevent Fraud Offence – Introduction   The introduction of the ‘failure to prevent fraud’ offence in the Economic Crime and Corporate Transparency Bill 2022-23 marks a significant shift in holding companies accountable for corporate wrongdoing.   Rather than attributing liability to individual directors or senior officers, the new law focuses on […]

May 17th, 2023

Is crypto gambling? (Un)exorcising the ghosts of crypto’s tax past?

An ‘interesting report’ by the Treasury Select Committee published today. They have stated in their report that cryptocurrencies have “characteristics closely resembling gambling”. There is plenty to unpack there. Of course, anyone who has witnessed the recent meme coin explosion / implosion (you all know PEPE, right?) would perhaps sympathise that some elements could rightly […]

May 7th, 2023

No Hollywood Ending: Court of Appeal Rejects Film Tax Scheme Investors’ action

Introduction On April 28, 2023, the Court of Appeal has issued a judgment in the case of David McClean & Ors v Andrew Thornhill KC [2023] EWCA Civ 466, unanimously dismissing the appeal. The case was brought by investors who had put their money into three film finance schemes promoted by Scotts Atlantic Management Limited […]

May 5th, 2023

A coronation tax tea-towel souvenir…

Introduction   So, picture this.   A (high quality) tea towel… with an image of each of the monarchs to be coronated over the last 100 years or so.   We can list some key tax facts of the period to add a bit of pzazz!   Yes, it is a lot of faces and […]

April 23rd, 2023

Ethereum Merge: tax consensus emerges re change of consensus mechanism?

Introduction Last September, the talk of crypto town was the Ethereum Merge or simply The Merge. This title encapsulates the shift by the Ethereum blockchain from the Proof of Work engine to Proof of Stake. Crypto is full of jargon, which is saying something from someone who works in tax. However, a fair chunk of […]