UK Budget 2017 – Key Tax Measures

by Cadwalader, Wickersham & Taft LLP
Contact

Cadwalader, Wickersham & Taft LLP

The Chancellor of the Exchequer delivered the UK Budget for 2017 on 22 November 2017.  Delivered against the backdrop of the UK’s ongoing negotiations to exit from the European Union, the Budget featured a significant downgrading of UK economic growth forecasts alongside a more encouraging reduction of public borrowing to less than 2 per cent of national income by 2020-2021. 

In this challenging economic situation, the Chancellor’s Budget navigated a careful passage in tax policy terms.  While there were some eye-catching proposals, including the abolition of stamp duty on real estate purchases of up to £300,000 for first-time buyers, the Government’s overall message in the Budget to the UK’s corporate and financial sectors was one of continuity rather than radical change.

In this Client and Friends memorandum we have outlined the key tax measures in the Budget that we expect to be of interest to Cadwalader’s clients and friends.

Corporate Tax Measures

Depreciatory Transactions within a Group

Where a company disposes of shares or securities at a loss (including through liquidation or a negative value claim) and the value of these shares or securities has been materially reduced by a depreciatory transaction (which can include intra-group disposals of assets or payments in excess of market value for services provided), HMRC may reduce the loss by a just and reasonable amount under the depreciatory transaction rules in the Taxation of Chargeable Gains Act 1992 (“TGCA”). Currently, for disposals on or after 19 July 2011, the depreciatory transactions rules apply only if the disposal is made within six years of the depreciatory transaction. The Government has announced in the Budget that the time limit of six years will be removed, so that the depreciatory transactions legislation will now apply where the value of shares disposed of has been materially reduced by a deprecatory transaction effected at any time on or after 31 March 1982. While the measure is targeted at companies which retain valueless subsidiaries for six years before making a claim for an inflated amount of loss relief, it would be surprising if the circumstances of this happening in practice are widespread. Indeed, the amount raised by the measure is relatively small in the context of the Budget (only £55 million in the period 2017 to 2023). By contrast, the work which will be needed within corporate groups to due diligence loss-making share disposals back to 1982 will be potentially onerous.

Amending provisions: Hybrid Instruments and Corporate Interest Restriction Legislation

Perhaps unsurprisingly, given the complexity of both regimes, a considerable number of amendments have been proposed by the Government in respect of the rules for hybrid instruments (enacted in Finance Act 2016) and the corporate interest restriction (“CIR”) legislation (enacted in Finance (No.2) Act 2017). These measures include amendments in the hybrid rules to disregard taxes charged at a nil rate (such as under a “designer” tax regime) and, under the CIR rules, to legislate that derivatives hedging a financial trade that is not a banking business are not inappropriately excluded from the ambit of the regime. It is anticipated that the current complexity of these regimes will not be reduced by the new proposed changes.

Capital gains assets transferred to a non-resident company

The Government intends to introduce legislation in Finance Bill 2018 to correct an anomaly in the capital gains tax regime which arises where the trade and assets of a UK company’s foreign branch is transferred to an overseas company in exchange for shares in that company. It is intended that any capital gains on the disposal of shares should be postponed until the assets are sold or the UK company disposes of shares in the overseas company, other than in exchange for further shares during a corporate reconstruction (i.e. such that the group still owns the shares of the overseas company). However, where such reconstruction is within the Substantial Shareholding Exemption, the provisions of Chapter II of Part IV and Schedule 7AC TCGA may cause the tax charge to be payable rather than being postponed, as is intended. The Government intends to correct this anomaly in relation to disposals of shares in, or securities of, a company made on or after 22 November 2017.

Bank Levy

As part of the Government’s phasing out of the Bank Levy (in favour of the Corporation Tax surcharge on banking sector profits), the Government is also intending to make other changes and administrative simplifications. As previously announced, the Government will include a re-write of Part 4 of Schedule 19 of Finance Act 2011 to provide for a single set of Bank Levy rules that will apply from 2021. In addition and among other measures, the re-write will attempt to simplify the calculation of the Bank Levy and providing for a deduction from a group’s equity and liabilities that are chargeable to the Bank Levy for certain loss-absorbing instruments issued by an overseas subsidiary of a UK resident group member.

Debt traded on a multilateral trading facility

As previously announced, the Government intends to exempt debt issued on a multilateral trading (“MTF”) facility operated by a European Economic Area-regulated recognised stock exchange from the obligation to withhold on account of UK income tax. The definition of “alternative finance investment bonds” will also be widened to include securities that are admitted to trading on such an MTF. This is intended to make the UK a more competitive location for MTFs and put such instruments on a similar footing as instruments which benefit from the UK’s Quoted Eurobond exemption.

The Digital Economy

The Government has published a “position paper” concerning the corporation taxation of the digital economy. The focus in the document is ensuring that the UK corporation tax payments of digital businesses are commensurate with the value such businesses generate form the UK market, and specifically the participation of UK users of digital services. The paper outlines a number of ways in which the UK Government intends to advocate reform of the international tax framework (building on measures within the OECD’s Base Erosion and Profit Shifting (“BEPS”) Report) to ensure that the value created by the participation of users in digital businesses is recognised in determining where those businesses’ profits are subject to tax. In this context, the paper states the intention of the Government in monitoring the progress of US tax reform, while noting a concern that such reforms are unlikely to “address the more fundamental concerns about the failure of the international tax regime to align profits with value creation in certain digital businesses”. The paper should be considered alongside the announcement by the Government that, with effect from April 2019, withholding tax obligations will be extended to royalty payments, and payments for certain other rights, made to some low or no tax jurisdictions in connection with sales to UK customers, regardless of where the payer is located.  

Individual Taxation and Venture Capital

Carried interest and Capital Gains Tax

Legislation will be introduced in Finance Bill 2018 to remove certain transitional provisions in the recently introduced carried interest legislation in section sections 103KA to 103KH TCGA. The proposed legislation will remove the transitional provision which excluded sums of carried interest arising on or after 8 July 2015 and in connection with the disposal of a partnership asset before that date. This change is an important alteration to the rules for the taxation of carried interest where the carried interest is not an employment related security. The announcement will mean that the carried interest provisions in sections 103KA to 103KH TCGA will apply to all carried interest arising after 22 November 2017, a significant and material change for individuals involved in investment management for private equity or other investment funds who are eligible to receive amounts of carried interest after 22 November 2017. As the announcement is broadly revenue raising (with £650 million estimated by HM Treasury to be collected in tax in the 2018-2023 period), and appears to signal a change in policy of the Government as opposed to being an anti-avoidance measure.

Venture Capital Trusts (“VCTs”) and Enterprise Investment Scheme (“EIS”) Investments

A new measure has been introduced which affects certain investments made by Venture Capital Trusts. The measure will insert the date of 6 April 2018 as the final date in relation to the applicability of certain “grandfathering” provisions and will also extent the timeline from 6 months to 12 months within which the VCTs have to reinvest gains from investments. The new measure introduces the requirement that 30 per cent of the funds raised in an accounting period should be invested in qualifying holdings within 12 months after the end of the accounting period and that qualifying loans should be unsecured and returns on loan capital above 10 per cent represent no more than a commercial return on the principal.

New legislation will be introduced which impact the investments limits and add flexibility for companies receiving investments under the EIS rules and the VCT rules under Part 5 and respectively Part 6 of the Income Tax Act 2007 (“ITA 2007”). The EIS investment limit will be increased to £2 million provided that any amount over £1 million is invested in knowledge-intensive companies while the annual investment limit for a knowledge-intensive company will be increased to £10 million. Amendments have been made to the operating costs provisions for companies that have existed less than three years and the permitted maximum age rules will allow knowledge-intensive companies to use the date from which the annual turnover exceeded £200,000 instead of the date of the first commercial sale. The definition of “relevant investment” under Part 5 and 6 of the ITA 2007 has also been amended to encompass all EIS, VCT and other risk finance investments.

Another proposed amendment to Part 5, 5A and 6 of the ITA 2007 is the introduction of a new qualifying condition which determines whether at the time of the investment a company is a genuine entrepreneurial company. There are various factors which will be taken into account, including whether the company has objectives to grow, whether there is significant risk of loss of capital or whether the amount of the loss could be greater than the net return to the investor.

Finally, section 264A of the ITA 2007 will be amended to limit the scope of an anti-abuse rule relating to share buy-backs by VCTs. When the date of the restructuring or merger is more than two years after the date of the subscription of shares or when such date is less than two years

but at the time of the subscription the individuals subscribing for the shares could not reasonably be expected to know that the merger or restructuring was likely to take place or if obtaining a tax advantage is not one of the main purposes of the merger, section 264A(5)(b) will not apply.

Tackling Tax Avoidance

The Government’s document “Tackling Tax Avoidance, evasion and non-compliance”, published alongside the Budget documentation, is a remarkable, if sobering, read. The publication charts over 100 anti-avoidance measures introduced by the Coalition and Conservative Governments since 2010. To those provisions might also be added the numerous anti-avoidance changes introduced by the Labour Government in the period 1997 to 2010, although these are, unsurprisingly, absent from what is an overtly political document. The Government states that there are four areas in which tax avoidance has been tackled aggressively: marketed tax avoidance structures; offshore evasion and the use of offshore structures; cross border tax arrangement of multinational businesses; and data-gathering powers. An investment in HMRC of around £2 billion has complemented these measures.

What is not stated in the document is whether the enactment of the anti-avoidance measures listed has resulted in the creation of a simpler, more stable and more predictable tax system. It is doubtful that this has been achieved. Certainly the proliferation of anti-avoidance provisions has led to a far longer code than existed in 2010, let alone 1997. The challenge for companies which have paid “their fair share” of taxation (using the Government’s terminology) is to navigate the highly complex network of frequently overlapping anti-avoidance provisions which successive Government have created. In this regard, the consequences of tax avoidance, and the measures against it, have been socialised across the entire taxpayer base, and not merely the tax avoiders in isolation.

International Tax

Double Taxation Relief and Permanent Establishments

The Government has proposed a restriction for the amount of double taxation credit allowed in the UK for foreign tax suffered by a UK company with a non-UK permanent establishment (“PE”) in circumstances where the losses of the PE have been set off against profit other than those of the PE in that non-UK jurisdiction. Such a situation might occur where, for example, the financial results of the PE are consolidated for the purposes of the foreign tax rules with the results of other entities by means of a fiscal consolidation, or where the foreign jurisdiction permits the losses of the PE to be relieved against income of another group company.

Double taxation relief for foreign tax incurred by a PE will, with effect from 22 November 2017, be determined by reference to the amount of foreign (non-UK) taxation incurred by the non-UK PE, less the amount of the reduction in foreign tax which results from the PE’s losses being relieved against non-PE profits in that foreign jurisdiction in the same or earlier periods. The draft legislation published in the Budget is complex and will repay carefully study for the corporate groups affected.

OECD Base Erosion and Profit Shifting Project

The UK signed the OECD’s BEPS multilateral instrument (the “MLI”) on 7 June 2017. However, in order to modify the UK’s double taxation agreements, the MLI must be given effect in UK law. Accordingly, the Government will introduce legislation in Finance Bill 2018 to give effect to the modification of the UK’s double taxation agreements in accordance with the provisions of the MLI. The measure is intended to take effect on the date of Royal Assent to Finance Bill 2018.

Double taxation relief – changes to targeted anti-avoidance rule

The Chancellor announced that legislation would be introduced in Finance Bill 2018 to amend the targeted anti-avoidance rule (“TAAR”) applicable to double taxation relief at sections 81 through 95 of Taxation (International and Other Provisions) 2010. Specifically, the Government will remove the requirement for HMRC to issue a counteraction notice before the TAAR applies and to also widen the scope of schemes or arrangements to which this TAAR can apply to also include the tax payable by any connected persons for one of the categories of prescribed schemes or arrangements to which the TAAR can apply.

Value Added Tax

The Chancellor took the opportunity to respond to the Office of Tax Simplification’s (“OTS”) recent report into the UK VAT regime. In an expected move, the Government has declined to act on the OTS’s recommendations in respect of VAT simplification at present. In particular, the Chancellor confirmed that the Government will maintain the VAT registration threshold at £85,000 but with the design of the VAT threshold to be consulted on during the two year period ending 31 March 2020.

Taxation of Partnerships

The Government has previously announced that following a public consultation and pursuant to already published draft legislation, various changes to the taxation of partnerships will be made. Specifically, the Government intends to provide clarification relating to the taxation of partners in nominee or bare trust arrangements or partnerships with partnerships as partners. The allocation of partnership profits for tax purposes will be required to be allocated in the same ratio as the commercial profits as well as clarifying that the allocation of partnership profits shown on the partnership return is the allocation that applies for tax purposes.

Gains on immovable property made by non-residents

The Government has announced proposals which would significantly affect the taxation of immovable property held by non-residents. Very broadly, the Government intends to bring both residential and non-residential property held by non-resident or by “property rich” entities within the scope of UK taxation. The scope, commencement date and core features are noted by the Government as being “fixed”. However, the detail relating to these measures will be subject to public consultation until 16 February 2018 with the relevant legislation intended to come into force with effect from April 2019 (subject to an anti-forestalling rule for arrangements entered into on or after 22 November 2017).  

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Cadwalader, Wickersham & Taft LLP | Attorney Advertising

Written by:

Cadwalader, Wickersham & Taft LLP
Contact
more
less

Cadwalader, Wickersham & Taft LLP on:

Readers' Choice 2017
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide

JD Supra Privacy Policy

Updated: May 25, 2018:

JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.

This Privacy Policy describes how JD Supra, LLC ("JD Supra" or "we," "us," or "our") collects, uses and shares personal data collected from visitors to our website (located at www.jdsupra.com) (our "Website") who view only publicly-available content as well as subscribers to our services (such as our email digests or author tools)(our "Services"). By using our Website and registering for one of our Services, you are agreeing to the terms of this Privacy Policy.

Please note that if you subscribe to one of our Services, you can make choices about how we collect, use and share your information through our Privacy Center under the "My Account" dashboard (available if you are logged into your JD Supra account).

Collection of Information

Registration Information. When you register with JD Supra for our Website and Services, either as an author or as a subscriber, you will be asked to provide identifying information to create your JD Supra account ("Registration Data"), such as your:

  • Email
  • First Name
  • Last Name
  • Company Name
  • Company Industry
  • Title
  • Country

Other Information: We also collect other information you may voluntarily provide. This may include content you provide for publication. We may also receive your communications with others through our Website and Services (such as contacting an author through our Website) or communications directly with us (such as through email, feedback or other forms or social media). If you are a subscribed user, we will also collect your user preferences, such as the types of articles you would like to read.

Information from third parties (such as, from your employer or LinkedIn): We may also receive information about you from third party sources. For example, your employer may provide your information to us, such as in connection with an article submitted by your employer for publication. If you choose to use LinkedIn to subscribe to our Website and Services, we also collect information related to your LinkedIn account and profile.

Your interactions with our Website and Services: As is true of most websites, we gather certain information automatically. This information includes IP addresses, browser type, Internet service provider (ISP), referring/exit pages, operating system, date/time stamp and clickstream data. We use this information to analyze trends, to administer the Website and our Services, to improve the content and performance of our Website and Services, and to track users' movements around the site. We may also link this automatically-collected data to personal information, for example, to inform authors about who has read their articles. Some of this data is collected through information sent by your web browser. We also use cookies and other tracking technologies to collect this information. To learn more about cookies and other tracking technologies that JD Supra may use on our Website and Services please see our "Cookies Guide" page.

How do we use this information?

We use the information and data we collect principally in order to provide our Website and Services. More specifically, we may use your personal information to:

  • Operate our Website and Services and publish content;
  • Distribute content to you in accordance with your preferences as well as to provide other notifications to you (for example, updates about our policies and terms);
  • Measure readership and usage of the Website and Services;
  • Communicate with you regarding your questions and requests;
  • Authenticate users and to provide for the safety and security of our Website and Services;
  • Conduct research and similar activities to improve our Website and Services; and
  • Comply with our legal and regulatory responsibilities and to enforce our rights.

How is your information shared?

  • Content and other public information (such as an author profile) is shared on our Website and Services, including via email digests and social media feeds, and is accessible to the general public.
  • If you choose to use our Website and Services to communicate directly with a company or individual, such communication may be shared accordingly.
  • Readership information is provided to publishing law firms and authors of content to give them insight into their readership and to help them to improve their content.
  • Our Website may offer you the opportunity to share information through our Website, such as through Facebook's "Like" or Twitter's "Tweet" button. We offer this functionality to help generate interest in our Website and content and to permit you to recommend content to your contacts. You should be aware that sharing through such functionality may result in information being collected by the applicable social media network and possibly being made publicly available (for example, through a search engine). Any such information collection would be subject to such third party social media network's privacy policy.
  • Your information may also be shared to parties who support our business, such as professional advisors as well as web-hosting providers, analytics providers and other information technology providers.
  • Any court, governmental authority, law enforcement agency or other third party where we believe disclosure is necessary to comply with a legal or regulatory obligation, or otherwise to protect our rights, the rights of any third party or individuals' personal safety, or to detect, prevent, or otherwise address fraud, security or safety issues.
  • To our affiliated entities and in connection with the sale, assignment or other transfer of our company or our business.

How We Protect Your Information

JD Supra takes reasonable and appropriate precautions to insure that user information is protected from loss, misuse and unauthorized access, disclosure, alteration and destruction. We restrict access to user information to those individuals who reasonably need access to perform their job functions, such as our third party email service, customer service personnel and technical staff. You should keep in mind that no Internet transmission is ever 100% secure or error-free. Where you use log-in credentials (usernames, passwords) on our Website, please remember that it is your responsibility to safeguard them. If you believe that your log-in credentials have been compromised, please contact us at privacy@jdsupra.com.

Children's Information

Our Website and Services are not directed at children under the age of 16 and we do not knowingly collect personal information from children under the age of 16 through our Website and/or Services. If you have reason to believe that a child under the age of 16 has provided personal information to us, please contact us, and we will endeavor to delete that information from our databases.

Links to Other Websites

Our Website and Services may contain links to other websites. The operators of such other websites may collect information about you, including through cookies or other technologies. If you are using our Website or Services and click a link to another site, you will leave our Website and this Policy will not apply to your use of and activity on those other sites. We encourage you to read the legal notices posted on those sites, including their privacy policies. We are not responsible for the data collection and use practices of such other sites. This Policy applies solely to the information collected in connection with your use of our Website and Services and does not apply to any practices conducted offline or in connection with any other websites.

Information for EU and Swiss Residents

JD Supra's principal place of business is in the United States. By subscribing to our website, you expressly consent to your information being processed in the United States.

  • Our Legal Basis for Processing: Generally, we rely on our legitimate interests in order to process your personal information. For example, we rely on this legal ground if we use your personal information to manage your Registration Data and administer our relationship with you; to deliver our Website and Services; understand and improve our Website and Services; report reader analytics to our authors; to personalize your experience on our Website and Services; and where necessary to protect or defend our or another's rights or property, or to detect, prevent, or otherwise address fraud, security, safety or privacy issues. Please see Article 6(1)(f) of the E.U. General Data Protection Regulation ("GDPR") In addition, there may be other situations where other grounds for processing may exist, such as where processing is a result of legal requirements (GDPR Article 6(1)(c)) or for reasons of public interest (GDPR Article 6(1)(e)). Please see the "Your Rights" section of this Privacy Policy immediately below for more information about how you may request that we limit or refrain from processing your personal information.
  • Your Rights
    • Right of Access/Portability: You can ask to review details about the information we hold about you and how that information has been used and disclosed. Note that we may request to verify your identification before fulfilling your request. You can also request that your personal information is provided to you in a commonly used electronic format so that you can share it with other organizations.
    • Right to Correct Information: You may ask that we make corrections to any information we hold, if you believe such correction to be necessary.
    • Right to Restrict Our Processing or Erasure of Information: You also have the right in certain circumstances to ask us to restrict processing of your personal information or to erase your personal information. Where you have consented to our use of your personal information, you can withdraw your consent at any time.

You can make a request to exercise any of these rights by emailing us at privacy@jdsupra.com or by writing to us at:

Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

You can also manage your profile and subscriptions through our Privacy Center under the "My Account" dashboard.

We will make all practical efforts to respect your wishes. There may be times, however, where we are not able to fulfill your request, for example, if applicable law prohibits our compliance. Please note that JD Supra does not use "automatic decision making" or "profiling" as those terms are defined in the GDPR.

  • Timeframe for retaining your personal information: We will retain your personal information in a form that identifies you only for as long as it serves the purpose(s) for which it was initially collected as stated in this Privacy Policy, or subsequently authorized. We may continue processing your personal information for longer periods, but only for the time and to the extent such processing reasonably serves the purposes of archiving in the public interest, journalism, literature and art, scientific or historical research and statistical analysis, and subject to the protection of this Privacy Policy. For example, if you are an author, your personal information may continue to be published in connection with your article indefinitely. When we have no ongoing legitimate business need to process your personal information, we will either delete or anonymize it, or, if this is not possible (for example, because your personal information has been stored in backup archives), then we will securely store your personal information and isolate it from any further processing until deletion is possible.
  • Onward Transfer to Third Parties: As noted in the "How We Share Your Data" Section above, JD Supra may share your information with third parties. When JD Supra discloses your personal information to third parties, we have ensured that such third parties have either certified under the EU-U.S. or Swiss Privacy Shield Framework and will process all personal data received from EU member states/Switzerland in reliance on the applicable Privacy Shield Framework or that they have been subjected to strict contractual provisions in their contract with us to guarantee an adequate level of data protection for your data.

California Privacy Rights

Pursuant to Section 1798.83 of the California Civil Code, our customers who are California residents have the right to request certain information regarding our disclosure of personal information to third parties for their direct marketing purposes.

You can make a request for this information by emailing us at privacy@jdsupra.com or by writing to us at:

Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

Some browsers have incorporated a Do Not Track (DNT) feature. These features, when turned on, send a signal that you prefer that the website you are visiting not collect and use data regarding your online searching and browsing activities. As there is not yet a common understanding on how to interpret the DNT signal, we currently do not respond to DNT signals on our site.

Access/Correct/Update/Delete Personal Information

For non-EU/Swiss residents, if you would like to know what personal information we have about you, you can send an e-mail to privacy@jdsupra.com. We will be in contact with you (by mail or otherwise) to verify your identity and provide you the information you request. We will respond within 30 days to your request for access to your personal information. In some cases, we may not be able to remove your personal information, in which case we will let you know if we are unable to do so and why. If you would like to correct or update your personal information, you can manage your profile and subscriptions through our Privacy Center under the "My Account" dashboard. If you would like to delete your account or remove your information from our Website and Services, send an e-mail to privacy@jdsupra.com.

Changes in Our Privacy Policy

We reserve the right to change this Privacy Policy at any time. Please refer to the date at the top of this page to determine when this Policy was last revised. Any changes to our Privacy Policy will become effective upon posting of the revised policy on the Website. By continuing to use our Website and Services following such changes, you will be deemed to have agreed to such changes.

Contacting JD Supra

If you have any questions about this Privacy Policy, the practices of this site, your dealings with our Website or Services, or if you would like to change any of the information you have provided to us, please contact us at: privacy@jdsupra.com.

JD Supra Cookie Guide

As with many websites, JD Supra's website (located at www.jdsupra.com) (our "Website") and our services (such as our email article digests)(our "Services") use a standard technology called a "cookie" and other similar technologies (such as, pixels and web beacons), which are small data files that are transferred to your computer when you use our Website and Services. These technologies automatically identify your browser whenever you interact with our Website and Services.

How We Use Cookies and Other Tracking Technologies

We use cookies and other tracking technologies to:

  1. Improve the user experience on our Website and Services;
  2. Store the authorization token that users receive when they login to the private areas of our Website. This token is specific to a user's login session and requires a valid username and password to obtain. It is required to access the user's profile information, subscriptions, and analytics;
  3. Track anonymous site usage; and
  4. Permit connectivity with social media networks to permit content sharing.

There are different types of cookies and other technologies used our Website, notably:

  • "Session cookies" - These cookies only last as long as your online session, and disappear from your computer or device when you close your browser (like Internet Explorer, Google Chrome or Safari).
  • "Persistent cookies" - These cookies stay on your computer or device after your browser has been closed and last for a time specified in the cookie. We use persistent cookies when we need to know who you are for more than one browsing session. For example, we use them to remember your preferences for the next time you visit.
  • "Web Beacons/Pixels" - Some of our web pages and emails may also contain small electronic images known as web beacons, clear GIFs or single-pixel GIFs. These images are placed on a web page or email and typically work in conjunction with cookies to collect data. We use these images to identify our users and user behavior, such as counting the number of users who have visited a web page or acted upon one of our email digests.

JD Supra Cookies. We place our own cookies on your computer to track certain information about you while you are using our Website and Services. For example, we place a session cookie on your computer each time you visit our Website. We use these cookies to allow you to log-in to your subscriber account. In addition, through these cookies we are able to collect information about how you use the Website, including what browser you may be using, your IP address, and the URL address you came from upon visiting our Website and the URL you next visit (even if those URLs are not on our Website). We also utilize email web beacons to monitor whether our emails are being delivered and read. We also use these tools to help deliver reader analytics to our authors to give them insight into their readership and help them to improve their content, so that it is most useful for our users.

Analytics/Performance Cookies. JD Supra also uses the following analytic tools to help us analyze the performance of our Website and Services as well as how visitors use our Website and Services:

  • HubSpot - For more information about HubSpot cookies, please visit legal.hubspot.com/privacy-policy.
  • New Relic - For more information on New Relic cookies, please visit www.newrelic.com/privacy.
  • Google Analytics - For more information on Google Analytics cookies, visit www.google.com/policies. To opt-out of being tracked by Google Analytics across all websites visit http://tools.google.com/dlpage/gaoptout. This will allow you to download and install a Google Analytics cookie-free web browser.

Facebook, Twitter and other Social Network Cookies. Our content pages allow you to share content appearing on our Website and Services to your social media accounts through the "Like," "Tweet," or similar buttons displayed on such pages. To accomplish this Service, we embed code that such third party social networks provide and that we do not control. These buttons know that you are logged in to your social network account and therefore such social networks could also know that you are viewing the JD Supra Website.

Controlling and Deleting Cookies

If you would like to change how a browser uses cookies, including blocking or deleting cookies from the JD Supra Website and Services you can do so by changing the settings in your web browser. To control cookies, most browsers allow you to either accept or reject all cookies, only accept certain types of cookies, or prompt you every time a site wishes to save a cookie. It's also easy to delete cookies that are already saved on your device by a browser.

The processes for controlling and deleting cookies vary depending on which browser you use. To find out how to do so with a particular browser, you can use your browser's "Help" function or alternatively, you can visit http://www.aboutcookies.org which explains, step-by-step, how to control and delete cookies in most browsers.

Updates to This Policy

We may update this cookie policy and our Privacy Policy from time-to-time, particularly as technology changes. You can always check this page for the latest version. We may also notify you of changes to our privacy policy by email.

Contacting JD Supra

If you have any questions about how we use cookies and other tracking technologies, please contact us at: privacy@jdsupra.com.

- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.