Current assets meaning

Statutory minimum increase rates The summary below sets out the current statutory minimum uplift that occupational pension schemes must apply each year to each tranche of pension. Period of pensionable service to which the pension relates (or, for money purchase benefits, the period in which contributions were paid): Before 6 April 1997 — no statutory minimum increase. However, to refund surplus assets to a sponsoring employer under the Social Security Pensions Act 1975, s 58A, it was necessary (until 5 April 2006) to revalue all pensions in payment (excluding GMPs and money purchase benefits) annually in line with RPI, capped at 5%. Despite the absence of a statutory minimum, most defined benefit schemes provide some pre-1997 indexation under scheme rules or as a discretionary benefit. As at March 2023, research indicates that only 17% of members of private sector defined benefit schemes receive no pre-1997 indexation on benefits. There have been calls on the government to legislate to mandate inflation-linked increases to pensions...

In this issue: Business structures Taxes management and litigation Employment taxes Companies and corporation tax VAT Environment Individuals and income tax Dates for your diary Trackers Daily and weekly news alerts New and updated content Latest Q&A Useful information Business structures Court of Appeal upholds UT and FTT decisions that incentivisation awards to partners are subject to income tax (HMRC v BlueCrest Capital Management LP and others and Andrew Dodd and others v HMRC) As noted below, in HMRC v BlueCrest Capital Management LP; and Andrew Dodd v HMRC [2023] EWCA Civ 1481, the Court of Appeal examined the tax position of awards granted to partners under an incentivisation scheme. It affirmed the rulings of the First-tier Tax Tribunal (FTT) and the Upper Tribunal (UT) that, although the awards were not profit share allocations, they still represented income and were chargeable to income tax as miscellaneous income under section 687...

In this issue: Financial sanctions AML, CTF & counter-proliferation financing Other financial crime Data protection Cybersecurity Other Practice Compliance updates this week Daily and weekly news alerts New and updated content Latest Q&A Financial sanctions ECJU revises General Trade Licence Russia Sanctions - Vessels The Department for Business and Trade’s Export Control Joint Unit (ECJU) has issued ‘Notice to exporters 2024/02: General Trade Licence Russia Sanctions – Vessels’, indicating that an updated edition of this General Licence takes effect on 18 January 2024. The General Licence sets rules for supplying technical assistance, brokering services, financial services and funds in relation to vessels. See: LNB News 19/01/2024 14. FCDO and OFAC report sanction of Alexander Gennadievich Ermakov The Foreign, Commonwealth and Development Office (FCDO) and the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) have announced that Alexander Gennadievich Ermakov is sanctioned. He played a part in the 2022...

In this issue: Sanctions AML, CTF & Counter-Proliferation Financing Data Protection Cybersecurity Other Practice Compliance Updates This Week Daily and weekly news alerts Trackers New and updated content Sanctions FCDO issues guidance on consolidating UK sanctions lists by January 2026 The Foreign, Commonwealth & Development Office has released guidance setting out the merger of UK sanctions designations into a single list. With effect from 28 January 2026, the UK Sanctions List will be the only authoritative source for UK designations, replacing the current two-list approach that includes the Office of Financial Sanctions Implementation Consolidated List of Asset Freeze Targets. Organisations will need to adapt compliance tools that rely on OFSI Group ID references. See: LNB News 13/10/2025 43. OFSI issues two new General Licences and amends two additional ones OFSI has introduced two new General Licences. General Licence INT/2025/7539056, Russian Oil Majors Wind Down, and General Licence INT/2025/7538856, Energy Entities Wind-down, each...

Loan market and developments Please provide a succinct outline of the current condition of the loan markets in your jurisdiction and any noteworthy recent developments. The US corporate loan market remains a significant pillar of the US economy. While the US loan market has undergone considerable change in recent years, it is still resilient and continues to be one of the most inventive and consequential areas within the US capital markets. Two principal components of the US corporate loan space are broadly syndicated loans (BSL) and private credit transactions. The BSL segment is a key funding source for medium- and large-sized companies, comprising loans where multiple banks and non-bank financial institutions extend finance through a syndicate of lenders. Private credit typically involves lending by non-bank lenders on a bilateral basis or by a small cadre of lenders (often termed ‘club deals’). Both segments have seen strong growth and transformation over the past several years. Broadly Syndicated Loans Although private credit often captures more media focus, syndicated lending...

Understanding the IP portfolio Effective stewardship of an IP portfolio is vital to protect and enhance the worth of a business’s intangible assets. A well-structured portfolio enables right holders to pinpoint and safeguard core assets, advance commercial aims, and limit legal and financial risk. This Practice Note offers practical guidance for UK right holders and their advisers on running an IP portfolio efficiently. It spans legal compliance (keeping rights valid, current and accurately recorded) and strategic management (aligning IP protection with business goals). What is an IP portfolio? An IP portfolio is the collective set of registered and unregistered IP rights an organisation owns, holds under licence or otherwise controls. It functions as both a legal architecture and a commercial asset base that can generate income, attract investment and deliver competitive advantage. Portfolio management involves systematically recording, protecting, monitoring and exploiting these rights to ensure they continue to create strategic value. Types of rights commonly included Patents: inventions, processes, chemical compositions. Protection method:...

What is BYOD? BYOD describes arrangements allowing an organisation’s employees to connect to the corporate IT network with their own communications devices for specified, work-related purposes. Such arrangements may extend to laptops, tablets and smartphones. This Practice Note focuses on BYOD in the employment relationship. Key risks and benefits of BYOD Cost Cost is a central consideration. Potential benefits Reduced organisational spend by avoiding procurement, replacement and day-to-day management of devices for employees. Depending on how costs are shared, lower outgoings on service charges. Potential downsides and risks The organisation must still invest in technical solutions, training and ongoing support so staff can access BYOD, which in some cases could make the approach more expensive overall. Ending the purchase of employee devices under existing agreements with a communications provider—where products and services are often bundled—may diminish discounts applied to other product or service lines. Accordingly, it is important to assess and review current...

1 Management and organisational information security ICO expectation and current status Further details: LexisNexis® Precedents Your business identifies, evaluates and controls information security risks Not yet implemented or planned Partially implemented or planned Successfully implemented Not applicable Before deciding the right level of protection for your organisation, audit the personal data you hold and gauge the threats to it. Review every stage of handling: collection, storage, use, sharing and disposal. Weigh the sensitivity or confidentiality of the data and the potential harm or distress to people, alongside any reputational impact on your business, if a breach occurred. With this understanding, select security controls proportionate to your needs. Embedding data protection by design also means undertaking a data protection impact assessment (DPIA) in defined scenarios to evaluate privacy risks. You must complete a DPIA prior to initiating any processing that is ‘likely to result in a high risk’...

Current ratio Date of calculations: [ insert date of calculations ] Formula: Current assets ÷ Current liabilities Calculation: Result: Result from previous month/year: % movement: If the ratio slips under 1.0, the firm lacks sufficient current assets to meet its current liabilities as they become due. Compare this outcome to the previous current ratio result. If the current ratio is declining and nearing 1.0, calculate the other ratios to gain a clearer view of why the firm is running out of money...

Definitions This Deed, between Lender and Borrower, defines key expressions used. Costs: all expenses on a full indemnity basis, including legal and professional fees. Event of Default: events in clauses 4.1.1–4.1.9. Financial Indebtedness: borrowing, bonds, finance leases, receivables financing, counter‑indemnities, and related guarantees. Insurance Policy: any current or future insurance benefiting the Borrower regarding the Real Property. Interest Rate: the stated annual rate or a closely comparable replacement if required. Legislation: UK laws and subordinate instruments, as amended, including approved codes of practice. Real Property: the assets in Schedule 1 together with buildings, fixtures and fixed plant. Receiver: any receiver (including a receiver and/or manager) appointed under this Deed or by law. Secured Obligations: all present and future liabilities to the Lender, including Costs and interest. Security Interest: any mortgage, charge, pledge, lien or similar arrangement conferring security. Security Period, VAT, Working Day: from today until full discharge; value added tax; any day except Saturday, Sunday...

If a lease was granted at undervalue, you are the 3rd owner, and you knew it was at undervalue, if creditors ask for an order returning the property to the original owner you cannot claim relief? Transactions at an undervalue (TUVs) are regulated by the Insolvency Act 1986 (IA 1986). The relevant provisions are: sections 238, 240 and 241 of the IA 1986 for companies sections 339 to 342 of the IA 1986 for individuals These powers are available to trustees in bankruptcy, liquidators (in both compulsory and voluntary liquidations), and administrators. They permit the office-holder to review dealings made by the insolvent person or company in the lead-up to insolvency and to assess whether assets should be recovered for the insolvent estate. In particular, an order under: section 241 of the IA 1986 (for companies), or section 342 of the IA 1986 (for individuals) cannot be made against the other party to a...