MW meaning

In this issue: Business structures Taxes management and litigation Employment taxes Companies and corporation tax VAT Environment Individuals and income tax Dates for your diary Trackers Daily and weekly news alerts New and updated content Latest Q&A Useful information Business structures Court of Appeal upholds UT and FTT decisions that incentivisation awards to partners are subject to income tax (HMRC v BlueCrest Capital Management LP and others and Andrew Dodd and others v HMRC) As noted below, in HMRC v BlueCrest Capital Management LP; and Andrew Dodd v HMRC [2023] EWCA Civ 1481, the Court of Appeal examined the tax position of awards granted to partners under an incentivisation scheme. It affirmed the rulings of the First-tier Tax Tribunal (FTT) and the Upper Tribunal (UT) that, although the awards were not profit share allocations, they still represented income and were chargeable to income tax as miscellaneous income under section 687...

On 15 May 2024, the Joint Contracts Tribunal (JCT) released its 2024 versions of the Minor Works Building Contract (MW), the Minor Works Building Contract with contractor’s design (MWD), the Minor Works Sub-Contract with sub-contractor’s design (MWSub/D), the Short Form of Sub-Contract (ShortSub) and the Sub-subcontract (SubSub) 2024. This follows the 17 April 2024 publication of the Design and Build Contract and the Design and Build Sub-Contract Agreement and Conditions, together with the related guides (see News Analysis: The JCT Design and Build Contract 2024—what’s changed?). These forms sit alongside the April releases and guides. The JCT MW and MWD suites are geared for schemes of relatively modest value where the Contractor must perform the construction works, and, for MWD, also undertake a defined element of the design responsibilities. MW covers the works, whilst MWD includes a contractor-designed portion carried out by the Contractor. The JCT MWSub/D is designed for projects where the main contract adopts the JCT MWD form, and sets out obligations concerning designs delivered by the sub-contractor...

R&D expenditure claim extinguished by going concern condition (MW High Tech Projects UK Ltd v HMRC) MW High Tech Projects UK Ltd v HMRC [2023] UKFTT 1040 (TC). The company, operating in engineering and construction, had incurred substantial losses by the close of 2016 due to technological hurdles within its business. Its accounts for the year ended 30 December 2017 were prepared not on a going concern basis. On 4 April 2019, the company filed its corporation tax return for that period, claiming an RDEC in excess of £1.93m. HMRC then refused the claim. A condition of entitlement to the RDEC was that the company had to be a going concern at the time the claim was made. As one of the qualifying conditions demanded that a company be a going concern when the claim was lodged...

EU ambitions to cut landfill disposal, together with advances in technology, spurred the roll-out of new waste infrastructure across the UK. Broadly, two principal contracting routes exist for such schemes: Waste Private Finance Initiative (PFI) and Public-Private Partnership (PPP) infrastructure contracts, which, from February 2025, are generally subject to the Procurement Act 2023. Existing PFI and Private Finance 2 (PF2) arrangements entered into before November 2018 continue to run Merchant waste infrastructure contracts A merchant contract is a binding agreement between a business (the merchant) and, commonly, an acquiring bank. Merchant waste schemes are those where the sponsor (or ‘acquiring bank’) is a private entity, for example the Green Investment Group. They may cover projects reliant on private, specialist feedstocks such as refuse derived fuel, commercial and industrial waste, and waste wood. This Practice Note concentrates on merchant waste infrastructure contracts. For details on waste PFI/PPP schemes, see Practice Note: Waste projects—waste PFI/PPP infrastructure projects. For general background on waste projects, including...

This Practice Note This Practice Note explores both statutory and contractual entitlements, in particular their scope and effect, to halt the carrying out of obligations under a construction agreement, chiefly triggered when an employer defaults on paying sums that are due. That statutory entitlement is found in section 112 of the Housing Grants, Construction and Regeneration Act 1996 (HGCRA 1996), which sets out the timing and mechanisms for exercising suspension in practice. This Practice Note then reviews how the standard form JCT, NEC and FIDIC suites address suspension arising from the HGCRA 1996 or from non-payment, and also examines broader contractual grounds for a contractor to pause performance of its obligations (ie not just because of non-payment). Suspending works can be an effective means of applying pressure to an employer who is failing to settle invoices (whether entirely or within the due time). However, in the absence of clear contractual terms or statutory authority, a contractor enjoys no general entitlement to suspend works, and doing so may amount to...

What is offshore wind energy generation? Offshore wind energy generation captures the movement of air using turbines placed in open waters, most commonly at sea. These offshore turbines feature blades that turn a rotor connected to a generator, mounted on either fixed or floating foundations and secured to the seabed. As the wind rotates the rotor, the generator transforms that mechanical motion into electricity, which is then delivered to the electrical grid via underwater cables for use by end-users. While offshore and onshore wind farms have much in common, a notable difference is how steadily they can produce power. Output from wind is largely driven by wind conditions, which can vary widely. At sea, wind flow faces fewer obstacles and is therefore generally stronger and more consistent, so offshore turbines are engineered to harness this—offering far higher capacities, typically 8–12 megawatts (MW), compared with onshore machines that usually produce around 3–4 MW. See Practice Note: Offshore wind—technology. Offshore wind is fast becoming a crucial, safe and renewable...

This Q&A assumed that: the referenced new Open Cycle Gas Turbine (OCGT) has a thermal input rating above 50 MW, thereby falling within the scope of Directive 2010/75/EU on industrial emissions (integrated pollution prevention and control) (Recast) the OCGT does not constitute an offshore combustion installation it is a new combustion plant and is not covered by an exemption under the transitional national plan Directive 2010/75/EU on industrial emissions (integrated pollution prevention and control) (Recast) (the Industrial Emissions Directive (IED)) seeks to secure a high standard of safeguarding for human health and the environment overall, by cutting detrimental industrial discharges to air, water and land, and by preventing waste generation, throughout the EU. For numerous activities, it delivers this by obliging the relevant industrial installations to operate under a permit, setting out conditions that have to be strictly met in full at all times, as specified within permits. IED rests on core principles, including taking all suitable preventative measures against pollution and...