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Nature-related financial disclosures have arrived: Release of the prototype TNFD framework The Taskforce on Nature-related Financial Disclosures (TNFD) has published the first prototype version of its nature-related risk and opportunity disclosure framework to help give nature-related factors greater prominence in business decision-making. 15 ... BLOG: A “tax plan” for the UK One big surprise in the UK’s March 2022 Spring Statement was the promise to cut the basic rate of income tax by one percentage point from April 2024. The Chancellor also announced that the national insurance contributions threshold would be alig... Tax and the City Review for March 2022 Mike Lane and Zoe Andrews discuss Royal Bank of Canada, the review of the UK funds regime, HMRC’s guidance on the meaning of “substantial” following Allam, and HSBC on VAT grouping. This article was first published in the 11 March 2022 ... Employment Bulletin - March 2022 Non-competition covenant enforceable in service agreement but not in shareholders’; aiding discrimination caught by settlement agreement; Employment Tribunal compensation limits; committee panel member was worker Topics covered in this bulletin: &... Competition & Regulatory Newsletter: CMA conditionally clears Cellnex/CK Hutchison merger with divestments On 3 March 2022 the Competition and Markets Authority announced it has conditionally cleared the anticipated acquisition of the UK passive infrastructure assets of CK Hutchison Networks Europe Investments S.À R.L by Cellnex UK Limited, subject to t... Russia / Ukraine Crisis and Derivatives Potential impact of events including restrictions on Russian entities and payments in RUB Derivatives market participants are amongst those currently trying to assess and manage their exposures in light of Russia’s invasion of Ukraine. Parties... Real change for the UK prospectus regime? In March 2022 the UK Government published a policy paper on reform of the UK prospectus regime. The proposed changes are designed to take forward the prospectus-related recommendations made by Lord Hill in his March 2021 UK Listings Review, which were aim... Getting closure in transfer pricing and DPT enquiries Recent cases, including Embiricos and Vitol, have clarified the circumstances in which taxpayers can bring finality to protracted enquiries by applying to the court for the issuance of closure notices. However, the taxpayer’s victory in Vitol has be... BLOG: Exploring the pros and cons of an online sales tax It is clear from the recent HM Treasury consultation document that an online sales tax (OST) applied to certain sales to UK customers would be a very complex measure, even though its aim of levelling the playing field between retailers operating... The Russia-Ukraine crisis: Implications for energy markets On 8 March the UK, US and EU urgently reviewed their energy policy with a view to reducing dependence on Russian oil and gas. In this article, we explore what happened and what this might mean for energy markets. Background In liberalised energy mark...