Author: LEXLAW Solicitors & Barristers

HMRC Tax Disputes Litigation Solicitors Office Barrister London

HMRC Advice for the tax treatment of Interest Rate Hedging Products (IRHP Review) redress payments

HMRC has issued tax advice leaflets for banks to hand to customers receiving redress from mis-sold Interest Rate Hedging Products (IRHP), urging correct tax return reporting. Affected banks must review sales since 2001 under FCA supervision, leading to customer compensation. Redress payments, consisting of basic redress, 8% compensatory interest, and consequential losses, are generally taxable income or subject to capital gains tax. Individuals should account for tax deducted from interest. HMRC recommends consulting an accountant for complex scenarios.

rbs grg ross mcewan swaps misselling claims litiggation solicitor in london lexlaw high court

A Royal Bad Bank: RBS Capital Resolution (RCR)

The Royal Bank of Scotland’s “Bad Bank” known as Capital Resolution (RCR) manages GRG, IRHP, and West Register portfolios involving distressed SMEs and mis-sold interest rate hedging products. RCR’s role is to isolate risky and non-performing assets, including businesses pushed into distress by GRG to facilitate asset acquisition at discounted rates. The unit has been criticised for poor treatment of SMEs, lack of transparency, and aggressive recovery tactics.

lexlaw litigation solicitor london professional negligence no win no fee lawyers

Challenging a Will in Probate on Grounds of Mental Capacity (Dementia)

In Catling v. Catling, the 2007 will of Mrs Catling was declared invalid due to her lack of mental capacity caused by dementia. The court found the 2007 will was a radical departure from her earlier wills and that she did not understand the changes. Medical evidence was pivotal highlighting necessity of mental capacity for a valid will, per Banks v Goodfellow (1870).

rcj clifford chance lawyer london litigate cpr civil commercial financial litigation

RBS & Clifford Chance Report on GRG Branded ‘Whitewash’

RBS Clifford Chance report on swaps mis-selling is a “whitewash” attempt to downplay the bank’s wrongdoing and avoid accountability. The report is lacks independence and fails to address the full scale of RBS mis-selling. It has fueled calls for stronger action into bank misconduct.

Supreme court london westminster law judges judgment thames old facade building lady hale uk

Probate Disputes: Rectification of Invalid Wills

The Supreme Court in Marley v Rawlings (2014) ruled that a wrongly executed will can be rectified under section 20 of the Administration of Justice Act 1982 to reflect the testator’s true intentions. Despite formal defects under section 9 of the Wills Act 1837, a “clerical error” like signing the wrong will does not prevent rectification. This decision supports prioritising the testator’s intent over strict formalities in probate disputes.

Westregister RBS GRG Review Compensation Whisteblower C4

Royal Bank of Scotland’s GRG Whistleblower Reveals All in Channel 4 Investigation

A former RBS GRG Bank Manager at revealed they deliberately destroyed viable businesses to save the bank during the credit crisis. GRG charged excessive fees, intercepted payments, and stripped firms of assets, which were then sold through another RBS unit, West Register. The investigation featured a couple forced into bankruptcy by unjust fees, highlighting GRG’s hostile tactics.

FCA Financial Conduct Authority RBS GRG Global Restructuring Group

FCA to Review RBS GRG Allegations

The Financial Conduct Authority (FCA) announced a review into allegations against RBS’s Global Restructuring Group (GRG), following claims of unfair treatment of businesses during the credit crisis. The review focuses on whether GRG used aggressive tactics that led to unnecessary fees, the stripping of assets, and forced bankruptcies. This follows whistleblower revelations and reports highlighting GRG’s controversial practices.

lexisnexis logo lexlaw litigation law firm london bank claims lawyers professional negligence

Immigration: EU Citizenship and Passports for Sale to High Net Worth Migrants

Malta introduced a citizenship-by-investment programme offering EU citizenship for a €650,000 investment, granting work, residency, and voting rights across the EU. This follows similar schemes in other countries like the UK, Portugal, Ireland, Cyprus, and Spain. Maltese citizenship allows visa-free travel to Schengen countries and the USA, with dual citizenship permitted. The policy has faced local criticism, raising concerns about comparisons to offshore tax havens.

Litigation Lawyers in London High Court

RBS Commissioned Report Criticises Treatment of SME’s in Global Restructuring Group (GRG)

A report by Sir Andrew Large criticises RBS’s Global Restructuring Group (GRG) for its treatment of SMEs in financial distress. The report highlights GRG’s operation as an internal profit centre with opaque decision-making and poor governance. Customers often face unsettling decisions without clear recourse, lacking funds or expertise to challenge the bank. Large calls for a forensic inquiry into GRG’s practices to address conflicts of interest and improve the treatment of distressed SMEs.

lloyds bank london lexlaw litigation bank finance solicitor claims against banks lawyers london

Tomlinson Report Accuses RBS & Lloyds Bank of ‘Unscrupulous Practices’

The Tomlinson Report accuses RBS and Lloyds of unscrupulous practices through their turnaround divisions. It found the banks deliberately distressed viable businesses, charging excessive fees to force insolvency and acquire assets cheaply via property divisions like RBS West Register. The report describes these actions as systematic and institutional, damaging SMEs.