Taken for granted, overlooked and generally not read very carefully are provisions ensconced with the moniker “miscellaneous.” I would argue that while they are viewed as the “second fiddle” of legal provisions contained in many documents, they are actually the “first string” in terms of importance. While many provisions in legal documents can trace their lineage to case law and decisions of note, the miscellaneous provisions in documents are all derived from years and years of case law and precedent and should be afforded the care and precision they deserve.
In many respects, the Upper Tribunal’s decision in Hargreaves Property will not have surprised tax practitioners as the decision reaffirms best practice considerations around a number of fundamental concepts in relation to UK withholding tax. However, the decision also raises questions concerning the interpretation of the UK’s statutory withholding tax exemptions.
Here is a rundown of some of Cadwalader’s recent work on behalf of clients.