LEXLAW Solicitors & BarristersHolmcroft Properties Limited v KPMG (Daily Telegraph, April 25, 2015, Business 33). Holmcroft wins permission to bring a judicial review against KPMG’s conclusion that the redress offered in the redress…
The Civil and Family Proceedings (Amendment) Fees Order has been approved in the House of Lords. This massively increases the court issue fee to £10,000 from £1,920 (raised last year from £1,670).
The Financial Conduct Authority’s confidential agreement with several major banks, which set up the Interest Rate Hedging Product (IRHP) Review, was published today. The Treasury Select Committee has also…
The Times’ City Editor, Harry Wilson, one of the journalists that three years ago broke the news of interest rate derivatives mis-selling by the major banks, reports today…
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.
LEXLAW have recently advised and given expert comment to BBC Panorama in order expose, on behalf of our SME clients, the banks who mis-sold. The programme will expose…
Katherine Griffiths, of The Times newspaper, reports on our Financial Services Litigation team’s recent success in a swaps mis-selling litigation case where a speculative financial instrument, namely a multi-cancelable swap, was sold…
The Times Newspaper has been given inside information from a number of reputable sources that banks are striking secret settlement deals with small businesses over the mis-selling of interest…