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Tax and the City Review for May 2019 Mike Lane and Zoe Andrews consider HMRC’s revised hybrid capital instruments technical note and their response to stakeholders’ concerns on the profit diversion compliance facility. They also look at the full decision on the UK's CFC finan... Economic substance requirements in the Crown Dependencies Companies resident for tax purposes in Guernsey, the Isle of Man or Jersey are subject to economic substance requirements if they have income from a relevant business sector in any accounting period commencing on or after 1 January 2019.  Time limit traps: lessons from the 2019 loan charge Richard Jeens and Rose Swaffield look at the broader questions around statutory time limits and how they apply to HMRC’s ability to investigate a taxpayer’s affairs and raise assessments of tax. Both the loan charge and diverted profits tax (... New EU Copyright Directive: harmony or discord? An article reviewing the key aspects of the EU’s Digital Copyright Directive, the first comprehensive EU harmonisation of copyright laws for nearly twenty years New EU copyright legislation has been adopted by the European Council.  The new Directive on C... Employment Bulletin Disciplinary proceedings while police investigation ongoing; Post-termination restrictions; Employer not vicariously liable for injury; Resignation in response to issue of improvement notice was constructive dismissal Topics covered in this bulletin: Emp... Insurance Newsletter - May 2019 Climate change and insurers; duty of care; post-Brexit regulation; model drift This newsletter highlights selected legal and regulatory developments in insurance. Topics covered in this edition are: climate change and insurers a duty of care for fin... Competition & Regulatory Newsletter European Commission approves State aid measures contributing to EU environmental and climate goals In this update, we look at the following development: The European Commission has recently approved a number of State aid measures designed to further envir... Read your tax rulings carefully..... A recent UK tax tribunal decision, relating to the UK corporation tax treatment of a “tower” structure, serves as a useful reminder of the limitation of tax rulings. Pensions Bulletin Dashboards; CDC consultation; GMP conversion guidance; PPF publication on contingency planning for employer insolvency; Reminder: disclosure about pooled investment funds Topics covered in this bulletin: New law Dashboards – Government response published... IAS 1: implications for companies facing a potential financial covenant breach Briefing considering the implications of IAS 1 for companies that need to address potential breaches of financial covenants under their loan documentation. In this briefing, Kathrine Meloni and Samyuktha Rajagopal consider the implications of IAS 1 for c...