Detailed assessment meaning

Purpose of this Checklist This checklist supports Solvency II UK firms in aligning governance, systems and controls with the expectations of the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). It should be read alongside Practice Note: Governance, systems and controls requirements for insurers, which provides a more detailed overview of the relevant requirements. Governance and organisational structure Confirm the board holds ultimate accountability for compliance with PRA, FCA and applicable legislative obligations. Establish a robust system of governance, featuring a transparent organisational structure with clearly allocated and segregated responsibilities. Regularly review and update written policies covering risk management, internal control, internal audit and, where relevant, outsourcing. Maintain documented governing body approvals for significant decisions and policy changes. Risk management Implement and embed an effective risk‑management system within decision‑making, ensuring ongoing identification, measurement, monitoring, management and reporting of risks. Incorporate comprehensive strategies, stress testing, scenario analysis and development of the own risk and...

Guidance on the assessment of costs appears in CPR PD 44, paras 8.1–8.3. The approach adopted will vary according to the categories of costs a party seeks to recover. The table below outlines the various types of costs and assessment routes, and includes further links to the pertinent references and the supporting guidance...

The Office of Trade Sanctions Implementation (OTSI) OTSI sits within the Department for Business and Trade (DBT). It supports businesses to navigate UK trade sanctions, exercises civil enforcement powers for specified breaches, and serves as the licensing authority for particular trade sanctions licences. These include licences covering the provision and procurement of certain standalone sanctioned services, as well as specific export-related prohibitions relating to goods and associated ancillary services. In the UK, responsibility for trade sanctions licensing is divided among different licensing bodies, determined by whether the activity concerns standalone services, goods, ancillary services, or imports. If the activity you intend to undertake falls within the remit of more than one authority, you may need to submit separate licence applications. See further Practice Note: Licences and exceptions in trade sanctions. This Checklist highlights key requirements and practical recommendations designed to make your application smoother and quicker for both you and OTSI. It also contains a section for you to indicate whether each requirement has been met, alongside...

Flowchart This Flowchart outlines the key questions for deciding international jurisdiction in employment matters—namely, the appropriate forum for bringing proceedings and identifying the court and/or tribunal competent to hear the claim—applicable to proceedings commenced on or after 1 January 2021. For additional guidance on jurisdiction in employment disputes from 1 January 2021 onwards, consult Practice Note: International jurisdiction—the Civil Jurisdiction and Judgments Act 1982 in employment cases as set out therein...

ARCHIVED: This Flowchart, now archived, outlines the key enquiries to consider when assessing international jurisdiction in employment matters—namely the possible fora for bringing claims and both the appropriate courts and/or tribunals to hear them—where proceedings were instituted on or before the IP completion day (11pm on 31 December 2020). For further detailed guidance on the impact of IP completion day, consult Practice Note: International jurisdiction—allocating employment cases between national courts and tribunals pre-1 January 2021 [Archived]—Brexit impact. For more general guidance on determining jurisdiction, see the Practice Note: International jurisdiction—allocating employment cases between national courts and tribunals pre-1 January 2021 [Archived]...

In this issue: Air emissions and climate change Energy efficiency of products Energy for environmental lawyers ESG and sustainability Hazardous substances and chemicals Marine Nature, biodiversity and habitat conservation Waste Daily and weekly news alerts New and updated content Air emissions and climate change Defra opens consultation on industrial emissions permitting reforms The Department for Environment, Food and Rural Affairs (Defra) has begun consulting on plans to modernise England’s environmental permitting regime for industrial emissions. The package aims to foster innovation, adopt agile standards, secure proportionate and coherent regulation, boost regulator effectiveness and efficiency, and deliver a transparent system. Suggested measures include a new registration route for low-risk installations, flexible site permits setting overall emissions caps, and faster approvals for time‑limited technology trials. The proposals reflect the Corry Review’s critique of regulatory inefficiency. The Environment Agency intends to roll out changes that could cut permit queues from months to days and lower...

In this issue: Key DR developments Claims and remedies Cost and funding Case management Scottish Dispute Resolution New content Dates for your diary Useful information Daily and weekly news alerts Key DR developments Court information HMCTS updates Form N215 certificate of service HM Courts & Tribunals Service (HMCTS) has issued a revised English Form N215 Certificate of Service for civil proceedings, which also brings in a new statement of truth. While the layout has been updated, the details required remain unchanged, with extra notes added to assist with completing the form. For further detail, see: HMCTS updates Form N215 certificate of service—LNB News 27/01/2026 36. Additional permanent courtrooms to boost capacity The government will make four former Nightingale Courts in Fleetwood, Telford, Chichester and Cirencester permanent, creating 11 additional courtrooms across England and Wales to increase capacity for criminal, family and civil work and help cut delays. For further detail, see:...

In this issue: The Pensions Regulator The Pensions Ombudsman Funding and investment Members and benefits Brexit Daily and weekly news alerts New content Dates for your diary Trackers The Pensions Regulator TPR value drive sees DC wind-ups continue and seven pension schemes fined more than £30,000 in total TPR has released its latest compliance and enforcement bulletin for January to June 2024, together with a progress update on last year’s initiative designed to ensure savers in defined contribution (DC) pension schemes benefit from rules that require trustees to undertake a detailed value for members (dVFM) assessment. To date, around 17% of the DC schemes it has engaged with during this value-focused work have judged they do not deliver good value and have chosen to wind up. As the dVFM regime applies to roughly 1,323 DC schemes, if these outcomes were replicated across the wider DC market, the implication is that more than 200 schemes...

This Practice Note sets out the particular rules governing VAT on costs that fall to be the subject of either summary or detailed assessment before the High Court. The applicable provisions are contained in CPR PD 44. Entitlement to This is addressed at CPR PD 44, para 2.3 through to CPR PD 44, para 2.6. The party seeking recovery of costs bears responsibility for ensuring that VAT is claimed only if, and only to the extent that, it cannot recover from HMRC the VAT it has incurred (CPR PD 44, para 2.4). if the VAT is recoverable from HMRC, it should not be included in a claim for costs if only a proportion of the VAT is recoverable from HMRC, include only that proportion which is not recoverable from HMRC in the claim for costs The legal adviser’s VAT registration number must appear in a prominent position at the head of every statement, bill of costs, fee sheet, account or voucher...

This Practice Note outlines when someone can become liable to a VAT-related penalty. A person charged with a VAT penalty may have a right of appeal; for guidance on appeal rules, see Practice Note: Appealing an HMRC decision. Civil penalties There are two broad types of civil penalties: those arising from failure to meet basic compliance obligations, and those stemming from more serious conduct or omissions This Practice Note highlights the principal penalties in each group; for a comprehensive list, consult the further reading link to De Voil Indirect Tax Service [V5.332]. Civil penalties are issued by HMRC through assessment; for general information on assessments, see Practice Note: VAT assessments. Penalties for basic compliance failures Penalties apply where a taxpayer does not meet core VAT compliance duties, including: breach of regulations made under VATA 1994. These regulations set out detailed collection and payment rules, so most administrative mistakes are covered. Failure to carry out specific obligations,...

What is an intrusive site investigation? An intrusive (phase 2) site investigation involves geotechnical and geo-environmental specialists collecting detailed and reliable information on a site’s physical and chemical ground conditions. These findings are then applied to: the design of earthworks and foundations, and determining whether contamination is present The UK follows a risk-based framework for the identification, assessment and management of contaminated land, based on the idea of a contaminant linkage (once called a pollutant linkage), ie contaminant-pathway-receptor. For further information, see Practice Note: Contaminated land—risk assessment. Site characterisation is generally carried out in a clear staged manner: screening phase: an initial investigation consisting of a desk study phase 1: a site walkover and qualitative risk assessment phase 2: intrusive site investigations involving the analysis of soil, groundwater and/or gas samples and a quantitative risk assessment For further information on desktop studies and phase 1 assessments, see Practice Note: Environmental investigations—types of searches...

Definitions 1.1 Within this Schedule, the following terms apply: Business Day • refers to any day that is not, and shall not be, a Saturday, a Sunday, nor a public or bank holiday in England; Change Control Procedure • denotes the procedure set out in clause [insert] (Change Control); [ Critical Service Level Failure • means [define as appropriate]; ] Month • signifies a calendar month; Service Credits • are the credits payable to the Customer when the Service Levels are not met or satisfied, as described in paragraph 3 and the Annex; and Service Levels • indicates the service levels detailed and defined in the Annex. 2 Service levels 2.1 The Supplier will deliver the Services in a manner that meets or surpasses the Service Levels stated in this Schedule. 2.2 The parties may add to, remove, or amend the Service Levels at any point during the Term, following the [Change Control Procedure]. For clarity,...

Financial sanctions Financial sanctions are controls that limit transactions involving money and the delivery of financial services; they may, for example, bar the transfer of funds to particular countries, individuals or entities. The Sanctions and Anti-Money Laundering Act 2018 (SAMLA 2018) is the UK’s principal sanctions law. It outlines the sanctions that can be introduced and the aims they may serve, empowers ministers to set detailed rules, and places obligations to ensure robust scrutiny and the safeguarding of the rights of those affected. Regulations made under SAMLA 2018 can create a wide range of measures—covering financial, trade, immigration, transport, etc. Financial sanctions typically prohibit dealing with assets, or making funds or economic resources available to, or for the benefit of, designated persons. There are also sectoral sanctions that forbid or restrict specified financial and investment activities. For our business, adherence to this framework is essential: non-compliance could lead to significant penalties for the organisation and for the individuals involved. Compliance requires several steps, including: ...

Schedule of cost precedents—Precedent L Order upon Client’s Application for Detailed Assessment of Solicitor's Bill DATED the [ DATE ] Claim No. [ insert claim number ]...