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As the year winds to a close, the Professional Adviser editorial team is taking a look back at some of the best-read and biggest stories of the last 12 months.
The British Steel Action Group (BSAG) has taken legal action against the Financial Conduct Authority. It filed an application today afternoon (23 December) at the Upper Tribunal (Tax and Chancery Chamber).
In Kwik-Fit Group Ltd and others v HMRC [2022] UKUT 314 (TCC) (November 2022), the Upper Tribunal (UT) upheld the decision of the First-tier Tribunal (FTT) that: (1) an intragroup debt restructuring, which would have had the effect of accelerating the use of a non-trading loan relationship deficit, had an ‘unallowable purpose’ (within the meaning in sections 441–442 of the Corporation Tax Act 2009 (CTA 2009)); and (2) the original commercial purpose under which intra-group debtors had borrowed survived the assignment of loans
The millionaire, 47, a member of the Labour party, lectured millions watching the World Cup Final about workers' rights and compared the treatment of NHS staff to migrant workers.
The Financial Conduct Authority (“FCA”) has banned and fined three bond traders for placing large-sized orders for future contracts in relation to Italian government bonds that they did...