New qualifying trade meaning

In this issue: Horizon scanning Recruitment Public sector Pay Tax Protected characteristics Equality of terms (equal pay) Whistleblowing Employee duties and restrictions on competition Unfair dismissal Employment Tribunals Dates for your diary Trackers New Q&As Employment resources on Lexis+® LexTalk®Employment: a Lexis®Nexis community Daily and weekly news alerts Horizon scanning Government U-turns on day-one unfair dismissal rights and announces compensation cap ‘will be lifted’ On 27 November 2025, the Department for Business and Trade (DBT) confirmed that, following a round of ‘constructive conversations’ with trade unions and business representatives, the discussions settled on a ‘workable package’: shortening the unfair dismissal qualifying period from two years to six months, while preserving existing day-one protection against discrimination and for automatically unfair reasons for dismissal. To reinforce these safeguards, the government further pledged that any alteration to the unfair dismissal qualifying period will only be possible through primary legislation,...

Workers (Predictable Terms and Conditions) Act 2023 The Department for Business and Trade (DBT) has said it has 'no plans' to commence the Workers (Predictable Terms and Conditions) Act 2023 in the autumn as previously anticipated. A DBT spokesperson said it will instead bring forward 'a new right to a contract that mirrors the number of hours regularly worked, as part of our significant and ambitious agenda to ensure workplace rights are fit for a modern economy'. 'We do not wish to confuse employers and workers with two different models', the spokesperson added, explaining the choice not to bring the law into effect; the Act received Royal Assent in September 2023. The 'number of hours regularly worked' will rely on a 12-week reference period. But it remains unclear whether this is a fixed or a rolling period, whether there is also a qualifying period to access the right, or precisely when it will be introduced...

In this issue: Cases round-up Security Real estate finance Sustainable finance Derivatives Sanctions Claims and remedies Daily and weekly news alerts New and updated content Useful information Cases round-up Banking & Finance case round-up For an overview of the Banking & Finance cases we highlighted in December 2025 and January 2026, see News Analysis: Banking & Finance—December 2025 and January 2026 case round-up. Security Administration appointment upheld despite service defects (Perhar v Synergy) In Perhar v Freestone [2025] EWHC 3284 (Ch), the High Court rejected an effort to nullify, or otherwise terminate, an administration appointment made by a trade finance provider under a qualifying floating charge. ICC Judge Prentis determined that, for paragraph 16 of Schedule B1 to the Insolvency Act 1986, the proper focus is on whether the chargeholder’s contractual entitlement to enforce had arisen, rather than on perfect procedural compliance when taking enforcement action. Relying on SAW (SW)...

What is land remediation relief? (LRR) LRR provides corporation tax relief on expenditure incurred in remediating contaminated land or in bringing derelict sites back into use. In 2009, the regime was broadened to address market failure by returning long-term derelict land to use, bringing such sites back into use. An incentive applies where land, whose development has been affected by various kinds of continuing dereliction, is brought back into productive use. The extension was intended to correct market failure by encouraging activity on sites blighted by ongoing dereliction. The relief was at risk of being discontinued after 2012; however, the 2012 Budget confirmed it would continue. The October 2024 HM Treasury Corporate Tax Roadmap, published alongside Autumn Budget 2024, notes the new Labour government’s commitment to a brownfield-first approach, prioritising the development of previously used land wherever possible. Given the time since the last review of LRR, and the potential for it to help progress the government’s objectives, the Roadmap announced that a consultation would be launched to...

are capital allowances available to traders. Capital allowances are chiefly available to individuals and other unincorporated entities for new acquisitions. They are not, however, available to anyone carrying on a trade that uses the cash basis. For companies, capital allowances arise only on qualifying capital expenditure on know-how where the acquirer falls outside the corporate intangible assets regime in Part 8 of the Corporation Tax Act 2009 (CTA 2009) in relation to that know-how. This applies where the know-how does not meet the asset or time conditions required to be within CTA 2009, Pt 8. For more detail, see Practice Notes: What is an intangible fixed asset? and What is a pre-FA 2002 asset? ‘Know-how’ is specifically defined as industrial information or techniques likely to aid: manufacturing or processing goods or materials mining agricultural, forestry or fishing operations HMRC does not accept that commercial know-how (i.e. market research, customer lists and sales techniques, etc.) qualifies for know-how allowances, as this...

The substantial shareholdings exemption (SSE) removes corporation tax on chargeable gains arising on certain disposals of shares by companies. It does not extend to individuals or other non-corporate bodies. The purpose is to simplify corporate restructuring and strengthen the UK’s competitiveness against the ‘participation exemption’ regimes found in some other European countries. Under the general rule that an exempt asset’s disposal cannot create an allowable loss, any loss realised on a shareholding that qualifies for SSE is not allowable for capital gains. The exemption applies automatically; there is no requirement to claim it, and no option to disapply it where a loss claim would be beneficial. This Practice Note sets out the scope of the SSE, the conditions that must be satisfied, and the specific rules for institutional investors, company groups, share exchanges and reconstructions. Summary of conditions A company (the investing company) disposing of a holding in another company (the target company) may meet the SSE requirements...