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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Stock IPO

Exclusive: Axiom weighs up IPO after years of deliberation

Flexible legal resources provider Axiom is considering an initial public offering in a bid to turbocharge the company’s growth, The Lawyer understands. Sources close to the matter claim that the firm’s internal talks are reaching a head after several years of deliberation. An Axiom spokesperson said today: “Axiom does not comment on rumours or market speculation”. […]

EY Law to enter Belfast market after Axiom hire

EY Law is setting up a legal services arm in Belfast after recruiting Axiom director Aaron Stewart to lead the team. Stewart will be responsible for working with the accountant’s clients across the UK and has been tasked with building and running a team in the Northern Irish capital. He has been at Axiom since […]

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Mishcon gears up for next decade with hire of Axiom’s UK head

Mishcon de Reya has hired the London general manager of alternative resourcing business Axiom in the newly created role of chief strategy officer. Nick West, a lawyer who previously worked at Lexis Nexis, joined Mishcon yesterday (6 January) as part of the firm’s senior management team. Axiom is best known as a provider of technology-enabled […]

What is the difference between corporate and commercial in a law firm?

In a law firm corporate and commercial are titles given to two related but usually separate groups. The distinction between the groups can differ across firms. The practice areas within corporate are closely linked and their work relates to the lifecycle of companies, as well as mergers & acquisitions. Commercial includes a broader range of […]

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