Flat-rate scheme meaning

The single tier State Pension (on and from 6 April 2016) On 6 April 2016, the Basic State Pension was overhauled and replaced by a single-tier, flat-rate pension, merging the Basic State Pension with the Second State Pension. From that date, men and women alike must have 35 qualifying years of National Insurance contributions to receive the full flat-rate amount. Marital status makes no difference to the level paid. Tax year Amount (per week) 2026/2027 £241.30 2025/2026 £230.25 2024/2025 £221.20 2023/2024 £203.85 2022/2023 £185.15 2021/2022 £179.60 2020/2021 £175.20 2019/2020 £168.60 2018/2019 £164.35 2017/2018 £159.55 2016/2017 £155.65 The Basic State Pension (before 6 April 2016) Before 6 April 2016, the Basic State Pension comprised the Basic State Pension and the Second State Pension. There was a third, minor, component known as the graduated pension that depended on graduated National Insurance contributions paid by employees while the graduated scheme ran from 1961 to...

POWER CLAUSE / RULE HELD BY REQUIRES AGREEMENT OR CONSULTATION WITH SUBJECT TO Authority to amend; to wind the scheme up or delay winding-up; to cease future benefit accrual; to shut to new joiners; to readmit employees to membership of the scheme Discretion to set the employer contribution rate; to lower or suspend contributions; to apportion statutory debts Ability to enhance or vary benefits; to permit early retirement pensions and set actuarial reductions; to allow incapacity pensions, decide whether a member meets the incapacity definition, and reduce or pause such pensions; to grant pensions for serious ill-health; to apply actuarial uplifts for late retirement; to fix the rate at which pension is exchanged for a lump sum; to commute trivial pensions; to provide a bridging pension; to award discretionary increases to pensions; to make unauthorised payments Capacity to admit new employers or end their participation; to replace the principal employer; to transfer members’ benefits into or out of the scheme Authority to return...

In this issue: Air emissions and climate change Energy for environmental lawyers Environmental disputes and proceedings Environmental permits and consents Environmental taxes, reliefs and incentives ESG and sustainability Hazardous substances and chemicals Marine Nature, biodiversity and habitat conservation Waste Waste producer responsibility regimes Water, flooding and drainage Daily and weekly news alerts New and updated content Air emissions and climate change DESNZ releases quarterly waste data reporting template for the UK ETS. The Department for Energy Security and Net Zero (DESNZ) has issued a template for quarterly waste data submissions under the UK Emissions Trading Scheme (UK ETS). It is designed for waste operators to use when sending quarterly data reports to their regulator during the voluntary monitoring, reporting and verification (MRV) period. See: LNB News 19/02/2026 50. AFME responds to European Commission consultation on climate resilience legislative framework. The Association for Financial Markets in Europe (AFME) has provided...

The Mayor and Commonality and Citizens of The City of London v 48th Street Holding Ltd and another company [2025] EWHC 1130 (KB) What was the background? The second defendant (‘POLL’) traded in devising rate mitigation schemes (the RMS) for empty premises for third parties. The first defendant, 48SHL, implemented one such arrangement and relied on it as a defence to a claim for non‑domestic rates. Under the arrangement, once relevant property fell vacant, section 45(1) of the Local Government Finance Act 1988 together with the Non‑Domestic Rating (Unoccupied Property) (England) Regulations 2008, SI 2008/386, regs 3 and 4a, operated to confer an exemption from liability for unoccupied rates for three months and, on the expiry of that three‑month period. To facilitate this, 48SHL granted POLL a lease of the premises and, at the same time, served a break notice bringing the lease to an end six weeks after the grant. This was done to demonstrate occupation by POLL for the scheme’s purposes...

Original news Mr R (CAS-54306-K6B1) – 26 October 2024. Summary The Pensions Ombudsman dismissed a complaint concerning a scheme’s delay in crystallising pension benefits during a transfer, which the member argued caused higher-rate tax on future withdrawals and used more of his lifetime allowance than would otherwise have been necessary. Although the delay was held to be maladministration, responsibility for tax liabilities arising from subsequent crystallisation events did not fall on either the transferring or the receiving scheme. In addition, any loss he said he suffered was offset by growth in his fund over the period, which produced a larger tax-free lump sum and, in total, a lower tax bill. This decision is a reminder that a professional will not be accountable for every loss flowing from a breach of duty... What were the facts? ...

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...

This Practice Note summarises several of the principal ways in which a residential flat project can be structured. It provides an overview of alternative leasehold flat arrangements for both developers and purchasers of residential flats. A central issue in residential leasehold developments is securing adequate, enforceable covenants for the repair, maintenance and insurance of the shared parts of the development (that is, the structure, foundations, roof, principal walls, internal and external communal areas and common services). It also addresses how obligations for the common parts are allocated among the key parties. The following structures, and their differing approaches to apportioning responsibility for the shared parts between landlords, management companies and tenants, are considered: developer/landlord retains the reversion and the management role developer/landlord keeps the reversion but outsources management duties developer/landlord keeps the reversion while tenants assume management duties developer/landlord transfers the reversion and management functions to the tenants ‘criss-cross’ or ‘crossover’ arrangement ‘cat’s cradle’ arrangement This Practice...

Business asset disposal relief Business asset disposal relief (BADR) is a capital gains tax (CGT) relief intended to encourage individuals to start and grow their own businesses. Where the qualifying conditions are met, for disposals made on or after 6 April 2026 the CGT rate on specified business assets is reduced to 18%. Before 6 April 2025 the rate available under BADR was 10%, rising to 14% from 6 April 2025 under the Finance Act 2025, which also provided for a further increase to 18% for disposals on or after 6 April 2026. Individuals operating as sole traders or in partnership Individuals disposing of shares in, or securities of, a company Trustees of a settlement holding the business assets Companies are not eligible for BADR in respect of chargeable gains that they realise. A lifetime cap limits the total amount of BADR that any one individual can claim...

1 Seller Share Options 1.1 This provision shall apply in connection with the Seller’s receipt of a valid notice of exercise issued by any Transferring Employee and relating to any option or options granted under any share incentive scheme run by the Seller or any member of the Seller’s Group (the Exercise)...

Employment Rights Act 1996 (Coronavirus, Calculation of a Week’s Pay) Regulations 2020 (Week’s Pay Amendment Regs 2020), SI 2020/814 For broader guidance on SI 2020/814, see Practice Note: Coronavirus Job Retention Scheme—right to statutory redundancy and other termination payments [Archived]. This resource provides general context on the Employment Rights Act 1996 (Coronavirus, Calculation of a Week’s Pay) Regulations 2020 and their application... The Week’s Pay Amendment Regs 2020, SI 2020/814, prescribe how to determine a week’s pay for an employee who is, or has previously been, furloughed under the CJRS. The rules apply when calculating specified payments, including an employee’s entitlement to payment under section 88 or 89 of the Employment Rights Act 1996 (ERA 1996). In effect, the instrument clarifies the approach to weekly pay where furlough is relevant, ensuring the correct basis is used for these statutory sums linked to notice or other termination-related payments as identified under the ERA 1996...

Coronavirus (COVID-19)—holiday and holiday pay [Archived] If you require general guidance on matters concerning the right to holiday and holiday pay during the Coronavirus (COVID-19) pandemic, consult Practice Note: Coronavirus (COVID-19)—holiday and holiday pay [Archived]. The way holiday pay is calculated under the Working Time Regulations 1998 (WTR 1998), SI 1998/1833, has continued unchanged throughout the coronavirus pandemic; the amendments contained in the Employment Rights Act 1996 (Coronavirus, Calculation of a Week’s Pay) Regulations 2020 (Week’s Pay Amendments Regs 2020), SI 2020/814, do not apply to the calculation of holiday pay. Under regulation 16 of the WTR 1998, SI 1998/1833, a worker taking statutory holiday is entitled to be paid at the rate of a “week’s pay” for each week of leave, with that figure determined in accordance with sections 221–224 of the Employment Rights Act 1996 (ERA 1996), subject to specified modifications. Different approaches to calculating a week’s pay are used depending on whether the worker has “normal working hours” or “no normal working hours”...