Gain meaning

Checklist This Checklist outlines practical actions for your first week in a new role as an in-house lawyer. It highlights relevant Precedents you can use or adapt to support these steps. There is space for you to note whether you have completed each action and to include comments. Use the section provided to tick off actions and add observations. It should be read together with Practice Note: Finding your feet in-house—your first week. Day 1 Your first day will be dominated by practicalities. Begin by considering your own needs, eg your health, safety and security, your contract, travel to the office, and office access: Practical step: ☐ Meet with your line manager Further details: Keep this meeting fairly informal, but flag the need to arrange a more structured session soon—perhaps in your second week with the organisation—see: New to role—meeting with your line manager—checklist. Explain that you will also want to set up meetings with key players across the organisation, eg...

Has the correct application form been used? If an application is submitted on the wrong form, or without the requisite details, it will be invalid and the local planning authority (LPA) may decline to validate it. The determination period only starts from the date the application is validated. The application must be submitted by one of the following routes: an online submission via the Planning Portal (advised) the national standard application form (1APP), completed and filed online or as a PDF a paper/PDF form downloaded from the Planning Portal ‘Paper Form Chooser’ (or, where available, from the relevant LPA’s website) and sent by post or email...

This checklist outlines the matters to be reviewed and the actions to take in order to voluntarily strike off and dissolve a company in the proper manner. Step Notes/Resources Tick box when the step is completed or the matter considered Preparing for voluntary strike off and preliminary checks Confirm that the company has not, at any time in the last three months: altered its name traded or otherwise conducted business of any kind disposed of property for consideration where the asset was held with the aim of disposing for gain in the ordinary course of business undertaken any other activity at all This does not apply if the activities above were carried out solely to make the strike off application, to conclude the company’s affairs, or to comply with a statutory obligation (for example, filing the company’s accounts or a confirmation statement), and nothing further. If the company has undertaken anything outside these exceptions, it cannot apply...

Flowchart This Flowchart sets out the procedural steps where a claim arises under the Inheritance (Provision for Family and Dependants) Act 1975 (I(PFD)A 1975). For additional guidance on I(PFD)A 1975 claims, please refer to: Family provision claims—overview...

If companies A, B and C are within the same capital gains group, and company A passes its shares in company B to company C in return for an issue of shares by company C to company A, the transaction can have the following tax effects: any chargeable gain potentially arising to company A could be exempt under the substantial shareholdings exemption (SSE) in Schedule 7AC to the Taxation of Chargeable Gains Act 1992 (TCGA 1992). For guidance on when the SSE applies to a disposal of shares, see Practice Note: Substantial shareholdings exemption for tax purposes, the share exchange might be treated as not involving a disposal by company A of its shares in company B, provided the conditions in TCGA 1992, s 135 are met and the anti-avoidance condition in TCGA 1992, s 137 does not apply...

Although ministers insist the bill is “firmly pro-business and pro-worker”, the latest changes have yielded a final version that further ramps up the financial pressures on employers under the Labour government. Sanctions for employers who breach collective redundancy procedures will be doubled, and the Central Arbitration Committee will gain the power to levy fines on businesses that obstruct union access to the workplace. Statutory sick pay will apply to every single worker from the first day of illness, yet there is no indication of a revival of the rebate scheme the government once ran for small and medium-sized businesses and firms. A reduced payment is also presently available to individuals earning below the 2024 threshold of £116.75 per week. MPs are also expected to insert a right to a fortnight of bereavement leave for parents following a miscarriage when the ERB reaches its third reading in the House of Commons next week. On 5 March 2025, Dan Pollard, a partner at Charles Russell Speechlys LLP, described the amendments as “brilliant...

Local Government Finance Settlement Westminster council is set to face some of the steepest reductions in grant funding among upper-tier authorities. The government is delivering on its promise to shift resources towards areas with the greatest need, writes Stuart Hoddinott. That inevitably means some councils will receive less than they might have expected, and, with a limited pot, ministers have had to make hard choices over where the losses fall. The announcement this week on council allocations—the Local Government Finance Settlement—runs to considerable detail, yet one headline stands out. Crucially, the most deprived authorities will gain most from rising local government budgets across this parliament. From 2024/25 to 2028/29, core spending power (the funding councils have available to provide services) will rise by 24.6% in real terms for the most deprived decile of local authorities. By comparison, the 10% least deprived councils will see only a 3.4% real-terms uplift. The rationale is sound: these places typically face higher service pressures, especially costly, acute provision such as social care and...

As Winston Churchill observed at the Lord Mayor’s Luncheon in 1942, this is no finale—nor even the beginning of one—more likely the end of the opening chapter. So it is with the FCA’s Consumer Duty. A torrent of imagery has been offered, yet those delivering change or advancing board reporting gain scant practical direction: boiling frogs boiling kettles, not oceans golden threads the art of the possible The last two years of implementation mark only the first stage of a wholesale mindset shift for firms—and for the FCA—across retail markets. With its outcomes focus, the Duty requires firms to define what ‘good’ looks like for their business and the processes most likely to secure positive results for all customers. Meanwhile, the FCA is starting to close the gaps, setting a cadence of studies and feedback that appears likely to continue...

Introduction to Musharaka—a profit and loss sharing instrument of Islamic finance At the heart of Islamic finance lies the maxim ‘no profit without risk’, ie no person should realise a gain unless they bear some degree of risk. This concept is most clearly shown through the application of profit and loss sharing instruments. For further detail on this principle, see Practice Note: Key principles of Islamic finance. This Practice Note examines Musharaka, an Islamic finance technique originally founded on profit and loss sharing and broadly analogous to a conventional partnership arrangement. In straightforward terms, a Musharaka is a partnership customarily entered into by two or more parties, not necessarily for a fixed term, and most commonly for the purpose of undertaking a business venture. In a typical Musharaka, each participant makes a capital contribution to the venture and profits and losses are shared between them. A comparable Islamic finance arrangement premised on the same profit and loss sharing rule is Mudaraba, a special form of partnership in which only...

Practice Note This Practice Note explores what amounts to a protected disclosure for the whistleblowing protections in the Employment Rights Act 1996 (ERA 1996), into which the relevant provisions of the Public Interest Disclosure Act 1998 (PIDA 1998) have been incorporated. It addresses the general features of disclosures, when they qualify as qualifying disclosures, the need for a whistleblower to hold a reasonable belief that a relevant category of wrongdoing has occurred, and that the disclosure serves the public interest, where appropriate and necessary. It further considers when qualifying disclosures obtain protection and identifies the prescribed persons (people) to whom a disclosure may properly be directed. In addition, the Practice Note summarises the reporting obligations placed on certain prescribed persons to produce an annual written report concerning the workers’ disclosures received by them...

Trustees and personal representatives can, in fact, carry on a trade. For example, where a self-employed trader dies, the personal representative may keep the business running until it is wound down or sold. In the same way, trustees or interest in possession beneficiaries might be trading and could qualify for reliefs such as roll-over relief or business asset disposal relief. The broad tax rules governing trading apply to all traders alike, whether they are individuals, trustees, or personal representatives. This Practice Note sets out those principles below. Is there a trade? The key issue to examine is whether there is a trade. At times this will be clear, for instance when personal representatives step in to continue the deceased’s business; however, in other situations even a solitary transaction can amount to a trade. As an illustration, trustees who buy a property to renovate may, depending on the circumstances, be regarded as operating a property development business. If so, any gain on the later sale would fall within income...

This Agreement is entered into on [ insert date ] of [ insert month ] [ insert year ] by and between: [ insert name ], of [ insert address ] (' Council '); [ insert name ], of [ insert address ] (' County Council '); [ insert name ], a company duly incorporated and registered in [ insert details ] under number [ insert details ], whose registered office is at [ insert address ] (' Developer '); [ Additional parties as necessary eg owner, landlord, mortgagee, option holder etc. ] (' [ insert additional parties as necessary eg owner, landlord, mortgagee, option holder etc ] '). Recitals The Council is the local planning authority for the purposes of section 106 of the 1990 Act for the area within which the Land is situated and is the body by whom the obligations contained in this Deed are enforceable. The County Council is the local highway...

A bribe means a monetary payment or any other benefit or gain, given whether directly or indirectly, that is meant to prompt or sway, or that results in prompting or swaying, an individual, company, or public authority to carry out their roles, including business and public duties, improperly...

Current ratio Date of calculations: [ insert date of calculations ] Formula: Current assets ÷ Current liabilities Calculation: Result: Result from previous month/year: % movement: If the ratio slips under 1.0, the firm lacks sufficient current assets to meet its current liabilities as they become due. Compare this outcome to the previous current ratio result. If the current ratio is declining and nearing 1.0, calculate the other ratios to gain a clearer view of why the firm is running out of money...

Sale by PRs or appropriation to beneficiaries We understand you are asking when it is better for the personal representatives (PRs) to dispose of an estate property, or instead to appropriate it to the beneficiaries so that they handle the sale themselves. This choice typically arises where: the beneficiary(ies) has/have part or all of their capital gains tax (CGT) annual exemption available the beneficiary(ies) will pay CGT at 18% on any part of a gain the beneficiary(ies) has/have losses available to offset against any gain the sale will make a loss and the PRs will not be making any further disposals that may produce gains to utilise the loss A death is not usually a chargeable occasion for CGT. For these purposes the PRs are treated as acquiring the assets at market value on the date of death; effectively, all prior accrued gains are eliminated and the PRs start again with a clean slate...

Clare Ambrose, Twenty Essex The clear benefit is that the hearing can proceed and the dispute be determined, which is the tribunal’s fundamental objective. The tribunal’s obligation to be fair to both sides does not compel an in-person hearing; if suitable arrangements permit the hearing to happen, that will be a weighty factor in favour. There is also a possible gain in cost efficiency: although premium technology may incur expense, savings on hearing venues and travel and hotel accommodation could be substantial. Virtual hearings remain relatively novel, so practice is evolving to manage practicalities and logistics across the board. The range of technological solutions is broad and warrants careful review and thorough investigation by the parties involved. For the hearing to run smoothly, every participant in the arbitration should trial their equipment in the precise location from which their virtual hearing will (for each of them) be conducted...

Peaceable re-entry This enquiry considers how a landlord may carry out a peaceable re-entry. The discussion is confined to a specific point, on the footing that a notice pursuant to section 146 of the Law of Property Act 1925 has already been served. It is further taken as read that the right to forfeit has accrued, has not been waived, and that the lease reserves a right of re-entry. Steps have been taken to confirm the premises are empty. That precaution matters because it is a criminal offence for A to use violence to gain entry to premises when B is within, objects to the entry, and A is aware of that fact (section 6 of the Criminal Law Act 1977 (CLA 1977)). The narrow point presented is what amounts to peaceable re-entry. Peaceable re-entry is, perhaps, something of a misdescription...