Dividend cover meaning

In this issue: Probate Trusts Court of Protection UK taxes for private clients Spouses, civil partners and cohabitants HMRC Manuals updates Tax avoidance, evasion and non-compliance Family enterprises and ownership models Pensions, insurance and tax-efficient investments Scotland, Wales and Northern Ireland 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 Probate Law Commission launches consultation on burial and cremation laws The Law Commission has opened a consultation to modernise burial and cremation law, parts of which are more than 170 years old. Draft proposals cover regulation of burial grounds; grave re-use and reclamation; closed and disused burial sites, and exhumation; rights afforded to the Commonwealth War Graves Commission; and cremation law. Feedback is invited from the public, specialists...

Participation exemption for foreign dividends The Department of Finance confirmed that a new participation exemption for overseas dividends is designed to streamline double-tax relief within Ireland’s tax code. From 1 January 2024, it will cover qualifying distributions received from subsidiaries located in EU member states and from subsidiaries in other double-tax treaty partner countries. According to the department, companies will be able to choose either to use the participation exemption or to retain the existing tax-and-credit relief under Schedule 24, with the selection made by way of an election in the company’s annual corporation tax return...

In this issue Commercial Data protection and cybersecurity Financial services Energy Environment Insurance and reinsurance Life sciences Regulatory TMT International trade Daily and weekly news alerts New and updated content Trackers Commercial The impact of the revised EU Product Liability Directive on the automated vehicles sector Directive (EU) 2024/2853 (the Revised EU Product Liability Directive) streamlines how consumers bring product liability claims, widens its remit to cover software and AI‑integrated products, lightens the evidential burden, and introduces new disclosure obligations designed to balance consumer protection with the opportunities and challenges of rapidly evolving technologies, including automated vehicles (AVs). In this piece, we outline what AV manufacturers placing products on the EU market need to grasp about the updated product liability framework and how they can reduce mounting liability risks. Written by Katie Chandler and Florian Lambrach (partners), Joe Pengelly (associate), and Dr. Philipp Behrendt (head) of Taylor Wessing’s German Disputes...

Key dates for Banking & Finance lawyers to look out for: 2014 [Archived] January 2014 1 Latvia moves to the euro as its national currency—see LNB News 09/07/2013 101. Equator Principles III now cover all fresh transactions—refer to Practice Note: The Equator Principles and the Equator Principles website for details. Bank levy rises as flagged in the 2013 Budget. An additional rise to the levy was set out in the Autumn Statement 2013. The full-rate levy is 0.156% on ‘short term’ liabilities, with a lower rate of 0.078% on ‘long term’ liabilities and equity—see News Analysis: Autumn Statement 2013 and HM Revenue & Customs notice. Functions previously undertaken by the African Loan Market Association are folded into the Loan Market Association—see news analysis: The Loan Market Association—2013 in review and LMA press release. The Capital Requirements Directive IV and the Capital Requirements Regulation take effect—see Practice Note: EU CRD IV package—essentials and the Prudential Regulation Authority announcement. The London Stock Exchange...

This Practice Note is about the tax implications of liquidation demergers, also known as section 110 demergers, after section 110 of the Insolvency Act 1986 This Practice Note examines the tax consequences of liquidation demergers, sometimes referred to as section 110 demergers, taking its label from section 110 of the Insolvency Act 1986. For context on the reasons a company may undertake a demerger, and an overview of alternative structures, see Practice Notes: Demergers—an introduction to the tax issues and Demergers—an introduction for corporate lawyers. Detailed Practice Notes cover the tax aspects of the principal demerger routes: statutory (or dividend) demergers, which can be direct or indirect—see Practice Note: Statutory demergers capital reduction demergers—see Practice Note: Capital reduction demergers liquidation demergers—the focus of this Practice Note Typically, a liquidation demerger involves placing a new holding company at the top of the group, then putting that new holding company into liquidation. The liquidator then transfers the businesses being separated to two new...

The purpose of a bankruptcy order is two-fold: first, it secures the bankrupt’s estate for the benefit of the creditors so it can be realised and shared among them by way of a dividend secondly, it facilitates the bankrupt’s rehabilitation by releasing them from their debts (with certain exceptions), which then fall solely upon the bankruptcy estate To supervise this policy effectively—and to ensure fairness to creditors—the trustee in bankruptcy (trustee) is granted wide investigative powers and, where needed, may set aside antecedent transactions that have prejudiced creditors. This Practice Note outlines what follows once a bankruptcy order is made, its principal effects, the duration of bankruptcy, the bankrupt’s discharge from bankruptcy, and the circumstances that might justify further sanctions against the bankrupt. This Practice Note does not cover the trustee’s powers and duties, or how the trustee will administer the bankruptcy estate...

PART ONE—GENERAL PROVISIONS 1 Definitions and interpretations This Rule sets out the glossary for the Plan and how those terms should be read. Defined expressions cover, among others: Awards and outcomes: Contingent Awards, Restricted Awards, Matched Awards, Options and Cash Awards, together with Date of Grant, Option Price, Exercise Price, Market Value, Dividend Equivalent and the concept of Vesting; People and entities: the Company (acting through the Board or a duly authorised committee, which may include the Remuneration Committee), Eligible Employees, Participants (and their personal representatives), the Group and its Subsidiaries, Associated Companies, the Grantor, the Nominee, the Trustee and Trust, and HMRC; Timeframes and dealing: Financial Year, Dealing Day, Closed Period, Grant Period, Holding Period, Relevant Period and the Plan Period; Shares and schemes: Shares, Employees’ Share Scheme and Company Share Scheme, Invested Shares and Invested Share Amount, and Matched Awards linked to such co‑investment; Legal and tax concepts: Control (as in ITA 2007, s995), ITEPA, Tax liabilities and any...