Additional expenses meaning

Renewable heat incentive (RHI) The RHI, applicable across Great Britain, was a government-backed programme offering financial support to encourage the use of renewable heat and biomethane, but it stopped accepting new applications from 31 March 2022. These incentives aimed to tackle barriers to uptake, notably high up-front costs and ongoing operating expenses. The scheme ran in two phases: Phase 1 launched in November 2011 for non-domestic installations in the industrial, commercial and public sectors. The non-domestic RHI closed to new applicants on 31 March 2021. Phase 2 covered the domestic RHI (formerly under the Renewable Heat Premium Payment), introduced in April 2014. The domestic RHI closed to new applicants on 31 March 2022. While both the non-domestic and domestic schemes are now closed to fresh applicants, those accredited before closure may continue receiving payments under the scheme. The non-domestic RHI was initially established under the Renewable Heat Incentive Scheme Regulations 2011 (2011 Regulations), SI 2011/2860...

This Checklist This Checklist helps pinpoint typical recoverable historic financial outgoings and losses (special damages or historic pecuniary losses) arising before trial. It also aids in collating suitable evidence and highlights the questions that commonly emerge when valuing these losses, setting out recurring issues for consideration as appropriate in practice. For additional guidance, see: Past expenses and losses—overview...

What is a positive covenant? A covenant operates as a contractual promise. Common examples of positive covenants found in land transfers impose duties to: carry out repairs or upkeep (for example, access ways), or contribute towards repair and maintenance expenses incurred by another put up buildings or boundary fencing (for example, on a transfer of part) pay additional sums (i.e. overage) where, for instance, planning permission is obtained, or on a sale following development of the land What is the issue with positive covenants? At common law, it is firmly settled that the burden of a positive covenant affecting freehold land does not pass with the estate. Accordingly, if one party to a freehold transfer (Party B) gives a positive covenant in favour of the other (Party A), that obligation will not bind Party B's successors in title, despite section 79 of the Law of Property Act 1925...

In this issue Trusts Court of Protection Elderly and vulnerable clients UK taxes for Private Client HMRC Manuals updates Tax avoidance, evasion and non-compliance Budgets and Finance Bills Contentious trusts and estates Pensions, insurance and tax efficient investments International Question of the week Additional Private Client updates this week Daily and weekly news alerts LexTalk®Private Client: a Lexis+® community New and updated content Dates for your diary Trackers Latest Q&As Useful information Trusts Insufficient credible evidence led to rejection of trustee expense claims (Hubbard v Hubbard) An account in common form concerning a trust holding development land, with trustees reporting to beneficiaries. The court determined the trustees failed to properly substantiate numerous costs, leading to substantial disallowances. Core principles include: trustees bear the onus to prove expenditure charged to the trust; poor or absent records are no excuse; and the court may grant a...

In this issue: Budgets and Finance Bills Taxes management and litigation Business structures Anti-avoidance Employment taxes Devolution International Individuals and income tax Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Budgets and Finance Bills National Insurance Contributions (Employer Pensions Contributions) Bill in the House of Lords The National Insurance Contributions (Employer Pensions Contributions) Bill has passed through the House of Commons and is now being scrutinised by the House of Lords. See: LNB News 23/01/2026 8. Further changes to Finance Bill 2026; Public Bill Committee timetable On 23 January 2026, the UK government introduced additional amendments to Finance Bill 2026 (FB 2026) for the Public Bill Committee to examine: clause 13 (enterprise management incentives) and clause 225 (tax adviser registration). The Committee has also released its schedule, with proceedings due to conclude no later than 26 February 2026. See: Tax—Finance...

Domestic Financial Services and Pensions Ombudsman (Amendment) Act 2025 (Commencement) Order 2025 On 7 May 2025, the Minister for Finance, Paschal Donohoe, issued the commencement order to bring the Financial Services and Pensions Ombudsman (Amendment) Act 2025 into force. Effective from 9 May 2025, the 2025 Act updates the Financial Services and Pensions Ombudsman Act 2017, by: setting out how the Ombudsman’s expenses are calculated when carrying out their functions permitting the appointment of additional individuals to serve as Ombudsman providing for how investigations are conducted and making related consequential amendments Remarks by Central Bank of Ireland Deputy Governor McMunn at the National Fintech Summit On 13 May 2025, Mary-Elizabeth McMunn, Deputy Governor of the Central Bank of Ireland, addressed the National Fintech Summit on a central bank and regulator’s perspective on innovation in financial services. She underlined that a public sector organisation should enable innovation while ensuring it is adopted safely. She noted that regulation, authorisation and supervision...

Elements of a fatal accident claim There are two strands to a fatal accident claim: Law Reform (Miscellaneous Provisions) Act 1934 (LR(MP)A 1934) allows the deceased’s estate to bring claims for: pain and suffering in the period between injury and death (see ‘Pain, suffering and loss of amenity (PSLA) pre-death’) any financial loss the deceased incurred from the accident date up to death funeral expenses, where these were paid by the estate Fatal Accidents Act 1976 (FAA 1976), as amended, enables dependants to claim for: their losses, including: financial support previously provided by the deceased dependence on the deceased’s services the ‘intangible’ benefits of a spouse/parent—see Practice Note: Quantifying damages for dependants—past losses—services—Additional award for ‘intangible’ loss of services provided by a partner/parent) funeral costs if met by the dependants...

What are fluctuations? Fluctuations provisions are terms in construction contracts that permit the contract sum to be varied to reflect shifts in the cost of labour, materials and other expenses over the course of a project. For example, if a contractor prices a tender using rates current at the tender date, and inflation then increases the cost of delivering the works during the job, the contractor must absorb that increase. Where a building contract omits fluctuations provisions, the contractor is treated as having allowed for inflation and accepted the risk of price rises within its pricing. By contrast, in the absence of a fluctuations clause, if market prices fall, the contractor might benefit from those savings. If fluctuations clauses are included, the contractor may be entitled to reimbursement of some or all additional costs caused by rising prices. The uplift can be calculated using an index-based formula, or by reference to a published schedule of market prices for specified items. When would fluctuations provisions be used? Fluctuations...

Loan Market Association investment grade facilities agreement This commentary draws on the Loan Market Association (LMA)’s recommended LMA Multicurrency Term and Revolving Facilities Agreement that incorporates Term SOFR (the LMA facilities agreement). The LMA provides various precedent loan agreements for investment‑grade deals, and single‑currency forms may suit a particular transaction better—the commentary can nonetheless be applied in that context. The provisions in the LMA facilities agreement, and in the LMA’s other precedent forms, are drafted on the basis of a series of assumptions. It is essential to recognise these, as amendments will usually be required where any assumption does not hold true. For further detail on those assumptions, see Practice Note: Loan Market Association investment grade documentation. That Practice Note also outlines the range of LMA‑recommended investment‑grade facility agreements and indicates the circumstances in which each is appropriate. In addition, the LMA publishes recommended form facility agreements for specialist transactions, including leveraged, real estate, trade and developing markets transactions. For more on these, please refer to our...

This Deed is made on [ insert day and month ] 20[ insert year ] Parties [ Insert name of Chargor ], being a company incorporated in England and Wales, with registered number [ insert company number ], and whose registered office is at [ insert address ] (the “ Chargor ”); and 1 [ Insert name of Security Agent ], acting as security agent and trustee for the Finance Parties pursuant to the terms and conditions set out in the [ Facilities Agreement OR Intercreditor Agreement OR Security Trust Deed ] (the “ Security Agent ”). Recitals: (A) The Finance Parties have consented to provide loan facilities subject to the terms and conditions set out in the Facilities Agreement (as defined below). (B) As a condition precedent to the loan facilities becoming available, the Chargor must execute this Deed for the purpose of granting security in favour of the Security Agent in relation to the Secured Obligations (as defined below)...

This Deed is entered into on [ insert day and month ] 20[ insert year ], as of that date Parties [ insert name of Assignor ], a company incorporated in England and Wales with company number [ insert company number ], whose registered office is at [ insert address ] (the Assignor); and [ insert name of Security Agent ], acting as security agent and trustee for the Finance Parties pursuant to the terms and conditions contained in the [ [ Facilities Agreement ] OR [ Intercreditor Agreement ] OR [ Security Trust Deed ] ] (the Security Agent). Recitals: (A) The Finance Parties have consented to provide the loan facilities, subject to the terms and conditions set out in the Facilities Agreement (as defined below). (B) A condition precedent to the availability of the loan facilities is that the Assignor enters into this Deed to provide security in favour of the Security Agent in respect of...

This Assignment is dated [ insert day and month ] 20[ insert year ]. Parties 1 [ insert name of Assignor ], a company incorporated in England and Wales with registered number [ insert company number ], having its registered office at [ insert address ] (the Assignor); and 2 [ insert name of Lender ] of [ insert address ] (the Lender). Background The Lender has agreed to provide a loan facility to the Assignor on the terms and conditions contained in the Facility Agreement (as defined below). As a condition precedent to the loan facility being available, the Assignor must enter into this Assignment to create security in favour of the Lender for the Secured Obligations (as defined below)...