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Ashfords' In-House Legal Bulletin - December 2019

This month’s bulletin brings you a judgment from the County Court that an automatic email signature could equate to a “signature”, an update on the enforcement delay of the PSD2 in the UK and the HMRC’s most recent guidance on the taxation of cryptoassets.

Court finds automatic email footer equates to a “signature

For many years, property professionals have been able to conduct their negotiations without much fear of inadvertently creating a binding contract, thanks to section 2 of the Law of Property (Miscellaneous Provisions) Act 1989.  

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FCA: 18 month delay to the enforcement to the Second European Payment Services Directive

Following our previous article commenting on the Secure Customer Authentication (part of the Second European Payment Services Directive) (‘PSD2 SCA’) and its implications on payment trends in 2019, following an announcement from the European Banking Authority (EBA) on 21 June 2019, The Financial Conduct Authority (FCA) has announced that the enforcement of PSD2 SCA is to be delayed for 18 months to allow for its phased implementation to enable businesses further time to prepare. 

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HMRC updates its guidance on the taxation of cryptocurrency

On 1st November 2019, HMRC published guidance on the taxation of cryptoassets for businesses following the publication of guidance for individuals in December 2018. The guidance provides some welcome clarification on the tax treatment of cryptoassets but will need some further refinement in due course because of the evolving nature of the sector. 

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