Tax analysis: In Shaw v HMRC the Upper Tribunal (UT) held that a limited liability partnership (LLP) was entitled to industrial buildings allowances (IBAs) in respect of buildings which remained unused throughout its period of ownership.

The Infected Blood Compensation Authority (IBCA) has published its newsletter for September 2024. The newsletter includes a letter from Chair of the IBCA, Sir Robert Francis KC, addressing operation of the new compensation scheme, new regulations to be published by the government on those who are affected (those who have cared for those infected) and further conversations with those who wish to share their views.

The Infected Blood Compensation Authority (IBCA) has initiated monthly reporting on its compensation scheme progress. IBCA has disclosed that 67 invitations have been sent, resulting in 43 submitted claims and 11 compensation offers totalling £13.4m. Seven offers have been accepted, with over £6.5m paid out. IBCA, established in May 2024, has outlined its claims process, which includes a three-month decision period for offers and provision of independent legal and financial advice funded by the authority. The organisation emphasises its commitment to transparency and continuous improvement of the claims service.

The Infected Blood Compensation Authority (IBCA) has released an update on the progress of compensation claims, with £48.2m offered and £25.2m paid to date across 204 contacted claimants. The deadline for new IBSS registrations has been set for 31 March 2025. The update clarifies inheritance tax exemptions on compensation payments and outlines the staged approach to processing different claim categories throughout 2025. A new compensation calculator is under testing and will be released within weeks to help potential claimants estimate their eligibility.

The Institute of Business Ethics (IBE) Taskforce on Business Ethics and the Legal Profession has released a report providing recommendations for law firms in England and Wales to strengthen their client acceptance procedures. The report introduces a new six-step model gating process to address gaps in Anti-Money Laundering (AML) legislation. The taskforce estimates that $US 660bn-1.26trn of illicit wealth enters global financial systems annually, highlighting the need for enhanced due diligence beyond current regulatory requirements. The framework aims to restore public trust in the legal profession through increased transparency and accountability measures.

This Practice Note has been archived. It looks at the further judgment of the High Court in the case of IBM v Dalgleish, handed down on 20 February 2015 (commonly known as the 'remedies judgment'), in which Warren J ruled on the remedies available to members for the breaches of duty established in the main judgment. In particular, this Practice Note looks at: • the conclusions reached in the remedies judgment • what was left undecided • the further judgments held on 18 and 19 May 2015 to deal with some of the outstanding matters left over from the main judgment and the remedies judgment • the pending appeal proceedings, and • the implications of the remedies judgment for employers, trustees and schemes In the main judgment of IBM v Dalgleish, Warren J held that changes made by IBM to its employees' defined benefit (DB) pension arrangements gave rise to a breach by IBM of both its duty of good faith in a pensions context (referred to as the 'Imperial

‘IBORs’ are benchmarks based on Interbank Offered Rates (ie the rate at which one bank will lend to another in a reasonable sized market for the relevant currency and term). The key IBORs are LIBOR, Euro Interbank Offered Rate (EURIBOR) and Tokyo Interbank Offered Rate (TIBOR).

Independent Business Review—an independent, objective, unbiased assessment of the trading status of a business. IBRs are used by stakeholders, mainly lenders, to assist them in assessing their options.

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The Presidium of the International Commercial Arbitration Court at the Ukrainian Chamber of Commerce and Industry (ICAC) has adopted Rules of Conduct for Arbitrators, approved on 25 August 2026, to establish professional and ethical standards for arbitrators handling disputes within its jurisdiction. The Rules apply from a prospective arbitrator’s approach for appointment until after proceedings conclude, and require independence, impartiality, disclosure of circumstances that could give rise to justifiable doubts, and continuing confidentiality. They also require arbitrators to perform their duties personally, fairly, competently and diligently; avoid improper unilateral communications with parties; communicate professionally; and use information, communication and digital technologies, including artificial intelligence tools, responsibly and consistently with confidentiality and personal performance obligations. The Rules are intended to support fair and efficient proceedings and maintain confidence in arbitration and ICAC.

The International Commercial Arbitration Court (ICAC) has announced that it has resumed operations under the martial law regime alongside the Ukrainian Maritime Arbitration Commission (UMAC). The ICAC and UMAC are again accepting claims and other procedural documents within their jurisdiction. Correspondence will be processed electronically and, where possible, in hard copy. Parties are encouraged to submit documents by email, while principal procedural documents must also be provided in hard copy by post or in person. Requests concerning procedural deadlines, arbitration fee payment extensions and the submission of documents will be considered on a case-by-case basis. Registration and arbitration fees should be paid using the banking details published on the ICAC and UMAC websites. The ICAC and UMAC are also resuming the administration of existing proceedings, reopening suspended cases and accepting new cases. Oral hearings will continue to be conducted by video conference while security risks arising from the military aggression against Ukraine remain. The period of martial law will not be counted when calculating the time limits for arbitral proceedings under Article 38 of the ICAC and UMAC Rules.

The International Commercial Arbitration Court (ICAC) at the Ukrainian Chamber of Commerce and Industry has published amendments to Article 60 of the Rules of the ICAC, effective 18 February 2025. The amendments modify requirements for arbitral award documentation, mandating that original copies must match the number of parties plus one copy for filing. The changes also require the Secretary General's signature and ICAC seal on all original copies. The amendments were approved under the ICAC Statute and Article 72 of the ICAC Rules.