Five key issues to ensure your IT contracts are robust and secure
Owning and managing a business in the 21st century usually involves a significant degree of reliance on information technology, almost regardless of sector or industry. The extent
The loan relationships unallowable purpose test is demonstrably broad
The test continues to carry its earlier momentum by giving more guidance on the unallowable purpose rule. Background: JTI Acquisition Company (2011) Ltd (JTIAC) was a
Don’t keep a company trading if it should go into liquidation
The High Court has handed down an important judgement against two former directors who were ordered to pay liquidators £13.5 million each for wrongful trading. Background: The
Notice provisions should be construed in light of their commercial purpose
The Court of Appeal (CoA) gave helpful guidance on interpreting notice provision in light of their commercial purpose and warned against them becoming “a technical minefield
Can a director be in breach of his duty for transferring a property below market value to commit an alleged tax evasion?
This case relates to alleged tax evasion and provides useful guidance on how to determine whether a breach of directors’ and professional trustees’ duties is deemed to be
You cannot use an intra-group loan to obtain a tax advantage
The Court of Appeal (CoA) agreed with the HMRC that, where an intra-group loan results in an overall tax benefit to a group, then the unallowable purpose rule may need to be
Are directors or senior executive employees liable if a company commits a civil wrong?
Facts: Mr Kashif Ahmed and his sister, Ms Bushra Ahmed, were directors of Hornby Street Ltd, a company which arranged for the manufacture of clothing, footwear and headgear and