Latest Briefings

Voluntary disclosures program update – The new normal

The Canada Revenue Agency voluntary disclosures program (VDP) has been around for decades. While the VDP has changed periodically, perhaps the most significant change occurred when the new Information Circular IC00-1R6, initially published on December 15, 2017, became effective on 1 March 2018.

Section 160 liability – Damis Properties Inc. v. The Queen

In Damis Properties Inc. v. The Queen, the Tax Court of Canada (TCC) found subsection 160(1) of the Income Tax Act inapplicable because the appellants and their former subsidiaries were dealing at arm’s length at the time of the transfer of the subject property. The TCC further concluded that, even if subsection 160(1) applied, the liability of the appellants under paragraph 160(1)(e) was nil because they gave fair market value consideration.

Private wealth – the potential for impact

“It is good to have money and the things money can buy, but its good too to check up once in a while and make sure you haven’t lost the things money can’t buy.” – George Lorimer

Nitrate neutrality

Developments on hold, trips to the High Court, nutrient credit schemes… Ever since a European Court of Justice ruling in November 2018, being nitrate neutral has caused headaches and blockages for developers and planners.

Bermuda: Three-day registration for special purpose insurers issuing bonds

Bermuda has always provided an efficient process for insurance submissions of all classes, with applications being approved in under two weeks. On 20 August 2021, the Bermuda Monetary Authority issued a notice announcing that enhancements have been made to allow further streamlining of the registration process for Restricted Special Purpose Insurers (“R-SPI”). Now, the licensing and registration processes of R-SPI registrants whose business model is to issue bonds (e.g. catastrophe bonds and mortgage bonds) will be consolidated and registrants can be fully registered within three business days.

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bonus money

The Covid Files: How the Top 50 firms are managing…bonuses

The Covid-19 pandemic has forced firms to examine whether their cash position is strong enough to withstand a sudden economic downturn. The Lawyer contacted the UK Top 50 firms to understand how firms are adjusting financial management in response to the Covid-19 pandemic. In this series, we reveal how the market is managing the ongoing […]

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Hill Dickinson makes U-turn on pay cuts

Hill Dickinson has made a U-turn on extending pay cuts for staff. Last week, The Lawyer reported that the firm would be extending pay cuts – after implementing the policy for two months at the start of lockdown. However, The Lawyer understands the firm has now decided to backtrack on the policy, informing staff that […]

Newcastle

Norton Rose Fulbright capitalises on Newcastle growth with internal overhaul

Norton Rose Fulbright‘s innovation arm has netted £10m worth of instructions in the last quarter, as the firm reorganised its Newcastle services hub. The client offerings developed by the firm’s 130-strong change and innovation programme NRF Transform over the past few months have resulted in a slew of profitable projects despite the Covid-19 pandemic. The […]

legal tech

Changing perceptions: The role of technology in arbitration

As the world approaches a ‘new normal’, one thing that is almost universally agreed upon is the vital role technology will play. The legal industry is no exception, with entire law firms, chambers and practices shifting online during the lockdown, with many who were previously resistant to the adoption of technology now understanding its benefits. […]

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