Earnings period meaning

Ubbi and Anori (minors) v Ubbi [2018] EWHC 1396 (Ch), [2018] All ER (D) 38 (Aug) What are the practical implications of this case? In proceedings by two children seeking maintenance from their late father’s estate under the Inheritance (Provision for Family and Dependants) Act 1975, the parties settled on a calculation approach that the court endorsed and applied. The agreed multiplier–multiplicand methodology drew on the Ogden Tables for each head of maintenance. An investment rate of -0.75% was adopted, on the footing that any lump sum would be invested in gilts to mirror the lowest investment risk. From the overall figure, there was a deduction to reflect the reasonable contribution the children’s mother could be expected to make across the relevant period. As a result, her financial position and anticipated earnings and income were pertinent, and evidence addressing these was required. Although this necessarily involved an element of ‘crystal ball gazing’, it was considered the most accurate tool available. Unlike a claim under Schedule 1 of the Children...

Summary of changes From 1 April 2024: new rules for calculating holiday entitlement and pay for irregular hours and part‑year workers (including 12.07% accrual and an option to use rolled‑up holiday pay); annual National Living Wage/National Minimum Wage uplift and removal of the live‑in domestic worker exemption; higher Agricultural Minimum Wage rates in Wales; and increased VAT registration (£90,000) and deregistration (£88,000) limits. From 6 April 2024: flexible working becomes a day‑one right with revised processes and an updated Acas Code; paternity leave/pay reformed so two separate one‑week blocks can be taken within the first year; introduction of unpaid carer’s leave; extended redundancy protection during pregnancy and for a period after family leave; Employment Tribunal rule changes and higher compensation caps; uplifted Vento bands; higher SSP; Class 1 main employee NIC cut to 8% while weekly thresholds (including the £123 LEL) remain static; veterans’ employer NIC relief extended; van benefit and car/van fuel benefits frozen; higher high income child benefit charge threshold with tapered application; and...

In this issue: Key developments UK immigration control: how it works Sponsored work Students Challenging immigration decisions and enforcement LexTalk®Immigration: a Lexis®Nexis community Daily and weekly news alerts New and updated content Key developments Future developments—Immigration calendar Note that our Immigration calendar outlines key forthcoming developments for business immigration advisers. Home Office announces contribution-based settlement model The Home Secretary, the Rt Hon Shabana Mahmood MP, has issued an update on proposals to amend the rules for settlement (indefinite leave to remain), first set out in the May 2025 Immigration White Paper. She confirmed a ‘contribution-based settlement model’ will be introduced, intended to cut net migration, enhance integration, and reduce strain on public services. Under the plan, the qualifying period for settlement (indefinite leave to remain) will move from five to ten years of lawful residence in the UK. The model would permit applicants to shorten this ten‑year route if they meet specified...

Introduction and context This Practice Note provides a summary of the taxation of internationally mobile employees in relation to securities options (Options) charged to tax within Chapter 5 of Part 7 of the Income Tax (Earnings and Pensions) Act 2003 (ITEPA 2003). On 30 October 2024, as part of the Autumn Budget 2024 announcements, the Labour government confirmed that it would proceed with the former Conservative government’s plans to abolish the remittance basis of taxation and replace it with a residence‑based regime, scheduled to commence on 6 April 2025. These changes were enacted through Finance Act 2025 (FA 2025) and have also affected, in particular, the availability and operation of overseas workday relief. This Practice Note reflects the current position under the new tax regime; however, the previous regime is still relevant for Options granted before 6 April 2025, because any elements of the Options’ ‘relevant period’ (see discussion below—broadly, the vesting period) that occur before 6 April 2025 remain subject to certain aspects of the earlier rules. For...

Term Meaning Accounting reference date On incorporation, a company is typically assigned an accounting reference date, being the final day of the month that contains the anniversary of its incorporation. Directors can alter this by submitting the relevant form to the Registrar of Companies. It denotes the end of the annual accounting period and is also called the balance sheet date. Accounts payable Sums a business or individual owes to others for goods or services already received. Accounts receivable Sums due to a business or individual from others for goods or services supplied. Accrual In company accounts, recognition of income earned or costs incurred during a reporting period, even though the cash has not yet been received or paid. Adjusted earnings Where reported earnings are affected, positively or negatively, by exceptional one-off events in the year, directors may present adjusted earnings to clarify performance. These are earnings with exceptional items excluded, which they believe better indicate the underlying results...

ARCHIVED: This Practice Note is archived and not being maintained. It reviews the Employment Rights Act 1996 (Coronavirus, Calculation of a Week’s Pay) Regulations 2020 (Week’s Pay Amendment Regs 2020), SI 2020/814, which ensure that employees furloughed under the Coronavirus Job Retention Scheme (CJRS) for any period ending on or before 30 September 2021 receive statutory redundancy pay, statutory notice pay and other entitlements by reference to their usual earnings rather than the reduced furlough rate. For details on the Coronavirus Job Retention Scheme (CJRS), extended to 30 September 2021, see Practice Note: Coronavirus Job Retention Scheme (extended version 1 May to 30 September 2021) [Archived]. For general guidance on working out a week’s pay under sections 221–224 of the Employment Rights Act 1996 (ERA 1996), see Practice Note: Calculating a week’s pay. The Employment Rights Act 1996 (Coronavirus, Calculation of a Week’s Pay) Regulations 2020 (Week’s Pay Amendment Regs 2020), SI 2020/814, which took effect on 31 July 2020, prescribe how a week’s pay is to...

[ IN THE COUNTY COURT AT [ INSERT ] OR IN THE HIGH COURT OF JUSTICE ] [ [ SPECIFY DIVISION ] ] [ [ SPECIFY SPECIALIST COURT ] ] [ [ INSERT LOCATION ] DISTRICT REGISTRY ] Claim No: Between [ A B ] Claimant and [ X Y ] Defendant ______________________________________________ COUNTER SCHEDULE OF LOSS ______________________________________________ The Defendant retains the right to vary, revise or supplement this Counter Schedule of Loss at any time up to and including the trial. PAST LOSSES 1 Previous loss of earnings (i) Loss of earnings to [ insert date eg 26 February 2019 ] are accepted in the pleaded claim at £[ insert amount ]. (ii)–(iii) Loss for the period [ insert date eg 26 February 2019 ] to [ insert date eg 25 August 2019 ] is not admitted. As a matter of principle, the Defendant accepts that it may take time to secure work of equivalent remuneration. However, the Claimant’s evidence does...