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Corporate issues legal updates

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HMRC confirms letting strategy is not abusive
Many house builders are finding they are unable to sell new dwellings in the current downturn, leaving them a stark choice.
Date: 2008-11-03

New face of The Duke of Edinburgh’s Award found at Shoosmiths
A solicitor from national law firm Shoosmiths has been selected by youth charity, The Duke of Edinburgh’s Award (DofE) to become one of the faces of its new brand.
Date: 2008-10-30

Guess who’s coming to dinner: HMRC extends investigative powers in relation to compliance checks
Legislation has been introduced in Finance Act 2008 (Schedule 36) setting out compliance powers which HM Revenue and Customs (HMRC) considers necessary following the merger of Inland Revenue and HM Customs and Excise, in 2005.
Date: 2008-10-13

Finance Act 2008 contains new residence rule
A new rule to determine whether a person is resident in the UK for tax purposes is contained in the Finance Act 2008.
Date: 2008-10-13

Businesses urged to protect workers or face legal action
Businesses are being urged to protect their staff by carrying out workplace risk assessments – or face legal action.
Date: 2008-10-06

Company Law Reform: Conflicts of Interest
As highlighted in earlier updates, one of the most significant developments in the Companies Act 2006 (the Act) has been the codification of directors' duties, with four of the seven general duties set out in the Act now in place for a year.
Date: 2008-09-24

Financial assistance laws overhaul: Harmonisation or headache?
1 October 2008 sees the eagerly anticipated repeal of the prohibition on UK private companies giving financial assistance
Date: 2008-09-24

Three joiners take corporate team into double figures
Shoosmiths’ Nottingham corporate finance team has reached double figures with the recruitment of three new young lawyers.
Date: 2008-09-23

Government set to bypass competition rules and push through HBOS/Lloyds merger
The Government has announced that it intends to issue an “intervention notice” in the Lloyds TSB HBOS merger. This almost unprecedented step effectively bypasses the merger rules which allow regulators to scrutinise and even block anti-competitive deals.
Date: 2008-09-19

VAT update: house builders letting property
A new Information Sheet published by HMRC on 15 September 2008 contains a helpful relaxation in the way the clawback operates where a house builder temporarily lets dwellings before selling them.
Date: 2008-09-16

New head of restructuring and insolvency at Shoosmiths
National law firm Shoosmiths has invested further in its Birmingham restructuring and insolvency team with the appointment of a new partner.
Date: 2008-08-26

Headache remains despite financial assistance go-ahead
Private companies are to be freed from restrictions preventing them from helping others buy their shares.
Date: 2008-08-19

Save HMRCs penalty kick
With new HM Revenue and Customs (HMRC) penalties regime coming into effect in April 2008, here is a brief overview of what they are and how to avoid them.
Date: 2008-08-12

Consumer Protection from Unfair Trading Regulations 2008: Impact on the Finance Industry
The new Consumer Protection from Unfair Trading Regulations 2008 have wide-reaching implications for all sorts of businesses. Here, partner and head of asset finance Joanne Davis looks at how they might affect the finance sector.
Date: 2008-08-05

Takeover tax planning: How loan notes can help
With appropriate structuring of takeovers, sellers can benefit from tax savings by receiving loan notes.
Date: 2008-08-04

Shoosmiths records library leader win
The UK’s leading supplier of public library and archive management systems has handed its legal work to Shoosmiths.
Date: 2008-07-28

Shoosmiths advises on Anglo - French software acquisition
National law firm Shoosmiths has advised French company, Graitec on its acquisition of a UK software company.
Date: 2008-07-28

Commission leads by example and sues elevator cartel for damages
The European Commission has apparently decided to blaze a trail in the relatively untested area of private damages actions.
Date: 2008-07-08

Shoosmiths advises on £6m sale of SRS Holdings
A corporate team from national law firm Shoosmiths has advised the shareholders of Derbyshire-based SRS Holdings Limited on the £6 million sale of its entire share capital and associated overseas subsidiaries to Goodwin plc.
Date: 2008-07-07

Data protection good practice on transfer of TUPE employee liability information
Good practice guidance for dealing with data transfers in the context of a business sale or service provision change has been published by the Information Commissioner
Date: 2008-07-01

Corporate team growth continues at Shoosmiths
National law firm Shoosmiths has a new recruit to its Milton Keynes corporate team.
Date: 2008-06-17

Working time opt-out saved
The Government has won agreement from EU employment ministers that the UK can keep its opt-out from the 48-hour working week, introduced by the Working Time Directive.
Date: 2008-06-10

Development agreements and the "OJEU" rules - a new case and a pause for breath
Last Thursday, the European Commission closed an investigation into a development in the German city of Flensburg. This gives us a chance, a year or so on, to look again at how the OJEU rules apply to development agreements.
Date: 2008-06-10

New team is response to public sector shared services trend
The rise in public sector shared services projects has prompted Shoosmiths to set up a specialist team to handle the work.
Date: 2008-05-12

Update on latest cartel fines: Belgian removal cartel and synthetic rubber cartel
The European Commission has continued to take tough action against cartels, imposing fines of €32,755,500 and €34,230,000 on a Belgian removal cartel and a Nitrile Butadiene Rubber (NBR) cartel, respectively.
Date: 2008-04-10

Commission launches sector inquiry into pharmaceuticals
The Commission has launched an inquiry into the pharmaceuticals sector, using its powers under Article 17 of Regulation 1/2003 and conducting inspections at a number of pharmaceutical companies.
Date: 2008-04-10

Commission imposes €38 million fine on E.ON for breach of a seal during an inspection
In May 2006, as part of an investigation into suspected anti-competitive practices in the German electricity market, the Commission carried out a surprise inspection – or “dawn raid” – of E.ON premises.
Date: 2008-04-10

OFT Annual Plan 2008-09
The OFT has published its Annual Plan which sets out its priorities for the next three years.
Date: 2008-04-10

Shoosmiths sows seeds for agricultural supplier’s growth
Corporate experts at national law firm Shoosmiths have helped rejuvenate a 140-year-old agricultural and groundcare equipment sales business.
Date: 2008-03-25

Executing documents - removing red tape
With effect from 6th April 2008, a company will be able to execute deeds and documents with the signature of only one director, attested by a witness.
Date: 2008-03-25

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Oliver Brookshaw

Partner
T: 08700 86 5000
I: +44 (0)115 906 5000
E: oliver.brookshaw@shoosmiths.co.uk