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This session covers corporate tax permanent establishments. The session addresses the relevance of the concept, the tests for a fixed place of business PE and dependent agent PE and practical points including the impact of home working.  The session also covers the diverted profits tax concept of an avoided PE.

On 9 November 2022, the Investment Association (the "IA") published its latest version of the IA Principles of Remuneration (the "Principles") and Letter to Remuneration Committee Chairs (the "Letter").

Travers Smith LLP is pleased to announce that Kathleen Russ has been elected Senior Partner for a second term, with effect from 1 July 2023.

Industry collaborations have been high on the competition law agenda in recent years, with businesses seeking to navigate an ever-growing number of 'horizontal' competitor collaborations, industry initiatives, and bilateral as well as multilateral information exchanges.

Against a background of high inflation and a challenging economic environment, many businesses are looking at whether they can raise prices. However, as we explain below, even where a contract appears to allow for this, much depends on the precise wording and what constraints the courts may decide to impose.

Travers Smith advises Daiwa International Investments G.K. (Daiwa Investments), in connection with the sale of its interests in Daiwa ICP European Infrastructure 1, L.P. in a GP-led secondary backed by Partners Group.

Key employment and business immigration developments for employers.

Kyle Rainsford joins Travers Smith's Tax Team as senior associate.

With COP27 starting earlier this week, all eyes remain on what progress governments and international organisations are able to make to meet climate critical finance targets. Climate finance is a major issue at COP27, as it has been since developed countries initially agreed to mobilise $100 billion per year at COP15 in 2009 by 2020 (later extended to 2025). However, this annual target has never been met.

The Advertising Standards Authority (ASA) is consulting on guidance that would require mid-contract price rises in consumer contracts to be more prominently stated in telecoms advertising. As we explain below, this may also be of interest to other B2C businesses outside the telecoms sector.

A guide to future employment and immigration law.

On 4 November 2022, the Pre-Emption Group published a revised Statement of Principles for the disapplication of pre-emption rights (the "Statement"), together with new template resolutions. The Statement, which has been updated for the first time since 2015, has immediate effect in line with the recommendations of the UK Secondary Capital Raising Review (the "Recommendations") published in July.

In the recent case of Newpier Charity Limited v HMRC [2022] UKFTT 373 (TC), the First-tier Tribunal (FTT) had to decide whether it was obliged to agree to the application by a charity, Newpier Charity Limited (Newpier), for it (the FTT) to require HMRC to close an enquiry into Newpier's tax return.

The rise in gilt yields following Kwasi Kwarteng's "mini-budget" announced on 23 September 2022 led to the Bank of England stepping in to stabilise the market - primarily to protect UK defined benefit (DB) pension schemes from the impact of the volatility which arose immediately afterwards. Here we outline what happened and some of the potential longer-term impact for schemes pursuing liability-driven investment (LDI) strategies.