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Details of updates to HMRC import, export and customs guidance for the period from 14 to 20 January 2025.
Commercial analysis: Geraint Lloyd-Taylor, partner and Co-Head of Advertising & Marketing Law at Lewis Silkin, discusses the differences in approach between the Advertising Standards Authority’s (ASA) and the Competition and Markets Authority’s approach to online discounts/savings claims, in particular ‘was/now’ pricing, or as they are sometimes called ‘reference prices’.
Law360, London: On 7 January 2025, the UK Office of Trade Sanctions Implementation (OTSI) published two new guidance documents focusing on no-Russia clauses and countering Russian sanctions evasion. The no-Russia clause guidance is focused on supporting those exporting or making available common high-priority list items, as well as other items critical to Russian weapons systems and military development, to tailor their due diligence and make use of clauses prohibiting reexport of their products to Russia. The Russian sanctions evasion guidance is intended to aid UK exporters' understanding of Russia's and other countries' circumvention practices to reduce their risk of being targeted by those seeking to evade sanctions. Affected companies should consider whether any adjustments need to be made to their trade compliance programs in light of the best practice recommendations made in the new guidance documents.
This week's edition of Commercial weekly highlights includes: analysis of the decision in Zaha Hadid Ltd v The Zaha Hadid Foundation which considered whether an agreement with a unilateral termination right operated in restraint of trade, commentary on the BBC’s investigation into forced labour imports which sets out key takeaways for UK businesses, and news that the Department for Business and Trade and the Department for Culture, Media and Sport have launched a public consultation on measures to regulate the ticket resale market.
Scotland—the process for applying for sequestrationSequestration in Scotland is the legal process by which an insolvent debtor’s estate is gathered in, realised and then distributed among their creditors by a trustee appointed for that purpose. The process requires that a formal award of
Micklefield clausesWhat is a Micklefield clause?It is common for employee share plans to provide that, on termination of employment (or when an employee is given or receives notice of termination of employment), subsisting share awards will be forfeited and subsisting share options will lapse.It is
Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on overdue tax, see Practice Notes: IHT—payment deadlines on death—Interest on IHT and Interest on late paid
Contributory negligence in personal injury claimsContributory negligence is a partial defence which can lead to a discount in damages.Other defences may also be relevant. See Practice Notes: Did the claimant consent to the risk of injury? and Was the claimant involved in an illegal activity?If a
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