Freshfields tax partner exits for Latham

Latham & Watkins has hired its latest partner out of the magic circle, this time a member of Freshfields Bruckhaus Deringer’s tax team. The US firm’s London office has recruited Helen Lethaby, who has been a partner at Freshfields since 2005. She qualified in 1997. Lethaby advises on the tax aspects of transactions, with a […]


Macfarlanes tax partner quits for Kirkland

Kirkland & Ellis is replenishing its tax team with the hire of a Macfarlanes partner, two months after securing a funds recruit from the same firm. Peter Abbott is leaving Macfarlanes’ tax group after five years as a partner. He trained at Macfarlanes and was later a visiting attorney at Wachtell Lipton Rosen & Katz. […]

Gherkin Kirkland

Goodwin nabs another Kirkland tax partner

Goodwin Procter is continuing apace with its London lateral hiring spree, taking on its third Kirkland partner in less than two months. The firm has brought in partner David Irvine, who has spent two years at Kirkland. He previously worked for more than seven years in the London office of Weil Gotshal & Manges, first […]

Kirkland exits mount as Goodwin nabs tax partner

Goodwin has hired a tax partner from Kirkland & Ellis, marking the latest addition in a sustained streak of lateral hiring. The US firm has taken on London partner Dulcie Daly, who has spent seven years as a partner at Kirkland. As part of her practice, she works on UK and international tax planning in […]

Virtual barristers’ chambers hires first silk

Since launching as a virtual set in the summer, Addington Chambers has increased its total headcount to 11 and has hired its first silk. Michael Ashe QC SC, who was called to the Bar in 1978, joins the set from 9 Stone Buildings where he built a practice focused on company law, financial services and […]


The Formula for Success: EQ ≥ IQ

Why is a lawyer like a dentist? It’s not a trick question – both are professions where, in order to be successful, emotional intelligence is vital. A patient in need of root canal treatment will favour the dentist that welcomes them into the surgery and ensures they feel relaxed while the painful problem is treated. […]


Decline and stall: the clock is ticking for Linklaters’ finance team

In late 2019, Linklaters’ global head of banking Davide Mencacci left his base in Hong Kong to visit the London headquarters of the firm. It was a standard trip for a practice leader; catching up with fellow partners, updating management and shaking hands with clients. All seemed normal, but there was something brewing. Just a […]

Roundtable: Sins of the father reversed? Discussing Okpabi

Greek mythology, the Bible and Shakespeare all make much of the sins of the father being visited on the child. However, for parent companies at least, that may no longer be the case following the Supreme Court’s recent decision in Okpabi v Royal Dutch Shell. At The Lawyer’s latest roundtable, Stephenson Harwood partners Ed Davis […]

Featured Briefings

Supreme Court decision on Tinkler v HMRC

The Supreme Court (Lord Hodge, Lord Briggs, Lady Arden, Lord Burrows, Lady Rose) handed down judgment on Friday, 30 July 2021, allowing HMRC’s appeal in relation to whether the Respondent is estopped by convention from denying that HMRC had a valid enquiry when HMRC had sent the notice to the wrong address and the Respondent’s accountants had interacted with HMRC on the basis that an enquiry had been opened.

The Revenue Rule in the Cayman Islands and British Virgin Islands

It is well established, under common law principles applicable in the Cayman Islands and the British Virgin Islands, that claims for payment of foreign tax liabilities, or claims for the enforcement of foreign judgments for tax liabilities, will not be judicially recognized or enforced by the Cayman Islands courts or the British Virgin Islands courts. These principles are known as ‘the Revenue Rule’.

Capital gains tax: will deferred proceeds change after the OTS’s recent report?

In July last year, the Chancellor asked the Office of Tax Simplification (OT) to review capital gains tax (CGT). The aim was to “identify opportunities relating to administrative and technical issues as well as areas where the present rules can distort behaviour or do not meet their policy intent”. Following its review, the OTS published its first report in November 2020. Named “Simplifying by design”, it considered the policy design and principles underpinning CGT. In May this year, the OTS published its second report, “Simplifying practical, technical and administrative issues”. We’re focusing on this report throughout this article, in particular, its section on deferred proceeds.

The impact of ESG investing on pensions

The impact of ESG investing on pensions has been phenomenal and will accelerate with the arrival of a UK taxonomy and mandatory disclosures on climate-related financial risks. This is the first in a series of podcasts by Cornwall Insight and TLT on green finance.

Canada emergency wage subsidy: TPM-17 and transfer pricing considerations

TPM-17 outlines the CRA’s guidance on the treatment of government assistance and confirms the CRA’s policy: “When a cost-based transfer pricing methodology is used to determine the transfer price of goods, services, or intangibles sold by a Canadian taxpayer to a non-arm’s length non-resident person and the Canadian taxpayer receives government assistance, the cost base should not be reduced by the amount of the government assistance received, unless there is reliable evidence that arm’s length parties would have done so given the specific facts and circumstances.” As an economist working at the CRA’s Competent Authority Services Division when this policy was introduced, I saw first hand the arguments raised by taxpayers in their applications for Mutual Agreement Procedure or an Advance Pricing Arrangement in an attempt to support the “reliable evidence” exception. Now, in light of the pandemic and the government subsidies being given by the Canadian government, the policies in TPM-17 are a hot issue in the Canadian transfer pricing landscape, as taxpayers determine how to address the Canada Emergency Wage Subsidy for transfer pricing purposes.

Mozambique – Mining 2021

Contributing editors: Darrell Podowski, Brian Dominique, Brandon Manhas and Lauren White of Cassels Brock & Blackwell LLP Throughout this edition, and following the unique Lexology Getting The Deal Through format, the same key questions are answered by leading practitioners in each of the jurisdictions featured. Our coverage this year includes new chapters on Ireland, Nigeria and Uzbekistan.

Trademark rights shipped to Malta

In their glossary, Marco Thorbauer and Tobias Hayden explain a decision by the VwGH on a company that transfers property associated with trademark rights to a company based in Malta, pays profit-reducing license fees there and up to the VwGH on the impact of these payments on the tax base applicable in Austria litigated.

Canada’s APA programme: an overview

This article provides a brief overview of Canada’s advance pricing arrangement (“APA”) program. Canada’s APA program has existed for over two decades. An APA is an arrangement between the Canada Revenue Agency (“CRA”) and the taxpayer that covers specific transactions between the taxpayer and related non-resident entities.

Cayman Islands voluntary liquidations 2021

Historically, the timing of the commencement of the voluntary liquidation of a Cayman Islands company was often driven primarily by the desire to avoid incurring the following year’s annual government fees, but there may now be increased operational efficiencies in completing the dissolution within the current calendar year as additional regulatory filings and other costs for stub years can be avoided. Similar considerations may also apply to other types of Cayman entities.

Cayman Islands update on economic substance and AEOI

This advisory provides a round-up of recent updates to the economic substance and AEOI regimes arising from economic substance regulations published by the Cayman Islands Government, updated economic substance guidance issued by the Cayman Islands Tax Information Authority and a bulletin published by the Department for International Tax Cooperation.