Exceptional items meaning

Philip Freeman Mobile Welders Ltd v Pensions Regulator [2024] UKFTT 91 (GRC) What are the practical implications of this case? This ruling underscores the detailed and credible proof required to displace the postal rule in IA 1978, s 7, an issue many practitioners will encounter from time to time. In this instance, the presumption was overcome, although the court stressed that the circumstances were quite out of the ordinary. The decision offers practical guidance on the level of specificity the court will demand before concluding that documents dispatched by post were not delivered. The Company adduced evidence of its in-office process for receiving mail, alongside earlier difficulties arising from a shared postal address. It explained that neighbouring businesses frequently received each other’s post, to such an extent that complaints had been made to Royal Mail. The Company had also preserved copies of letters wrongly sent to it and obtained a letter signed by nearby businesses to demonstrate the issue. Taken together, this material showed why delivery could not...

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...

This Practice Note considers the position regarding the diligence of attachment in Scotland This note addresses how attachment operates within Scottish diligence, setting out the relevant position and context. For further guidance: on other types of diligence in Scottish civil procedure, consult Practice Note: Enforcement in Scottish civil litigation, which in turn connects to detailed guidance on a number of forms of diligence available in Scotland on the counterpart in England and Wales, see Introduction to enforcement—overview, which provides a general outline and links to more detailed guidance on various aspects of domestic enforcement in England and Wales on cross-border enforcement, refer to Practice Note: Cross-border enforcement—a guide for dispute resolution practitioners, which offers an overview and signposts more detailed guidance on multiple aspects of cross-border enforcement This Practice Note does not address land attachment or residual attachment; for those, see Practice Note: Adjudication for debt in Scottish civil litigation—anticipated future developments. In 2020, the Scottish Government commenced a policy review...

ARCHIVED: This Practice Note has been archived and is no longer maintained. At 11 pm (GMT) on 31 December 2020, the implementation period created to help the UK move away from the EU’s laws and institutions ended. At that moment—called in this Note ‘IP completion day’—the UK’s legal framework changed at once and in a significant way. This Practice Note outlines the effects of that change for medicinal products, including: Overview—what took place on 31 December 2020 How Brexit affects the regulation of medicinal products Which legal authorities in this sphere are relevant, and how Brexit has influenced them The principal items of retained EU law—whether they face amendment from IP completion day, and whether any are revoked Headline changes for suppliers of medicines and medical products from IP completion day Core requirements governing importation and batch testing from IP completion day The main criteria for marketing authorisations applicable from IP completion day Key obligations for generics, biosimilars and...