Tag: FCA

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 distributed 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.

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RBS & Clifford Chance Report on GRG Branded ‘Whitewash’

The Royal Bank of Scotland has today published Clifford Chance’s review of the central allegation made against the bank in the damning Tomlinson Report written by Dr Tomlinson, commissioned…

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FCA to Review RBS GRG Allegations

Following the publication of the government commissioned Tomlinson Report by Lawrence Tomlinson, the Financial Conduct Authority (“FCA”) have ordered a formal investigation into allegations that RBS systematically defrauded…

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

Entrepreneur in residence at the BIS, Dr Lawrence Tomlinson, has today published an explosive report which accuses many of Britain’s banks of ‘heavy handed profiteering and abhorrent behaviour.’…

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Court of Appeal Judgment: Green & Rowley v The Royal Bank of Scotland

 Neutral Citation Number: [2013] EWCA Civ 1197 Case No: A3/2013/0138 IN THE COURT OF APPEAL (CIVIL DIVISION) ON APPEAL FROM THE HIGH COURT OF JUSTICE MANCHESTER DISTRICT REGISTRY…