Offsetting meaning

In this issue: Commercial Data protection and cybersecurity Financial services Energy Environment IP Life sciences TMT Daily and weekly news alerts Trackers New and updated content Commercial Viagogo commits to better inform consumers of the resale of tickets The European Commission has confirmed that Viagogo, an online marketplace for second-hand event tickets, has pledged to stop pressuring consumers with excessive countdown prompts and to provide clearer details about ticket resale conditions in line with EU consumer protection rules. This follows numerous complaints submitted to the Commission and national consumer authorities. Viagogo will roll out website changes by the end of August 2024, including clearer ticket ranking in search results, fewer countdown notices on the site, and early disclosure on the ticket selection page of whether the ticket seller is a trader or another consumer. Viagogo has also committed, by the end of August 2024, to make changes and clarifications to several clauses...

R (on the application of Rokos) v HMRC [2026] EWHC 733 (Admin) The taxpayer joined partnerships to avoid income tax by offsetting his shares of their losses against other income. He ultimately accepted he had no entitlement to loss relief in principle, yet contended HMRC could not refuse relief because it had not properly examined the partnerships’ returns and was now out of time. On that footing, he said HMRC’s amendments to his returns lacked lawful basis and were open to judicial review. Under the Taxes Management Act 1970: An HMRC officer may enquire into a partnership return by giving notice of that intention to the partner who made and delivered the return, or that partner’s successor, within 12 months of delivery where the return was on time: Section 12AC TMA 1970. When the enquiry ends, the officer issues a closure notice stating conclusions and making any necessary amendments to the partnership return: TMA 1970...

What has been the impact of the first edition of the guide? We answer wearing our respective professional hats—Beverley writes as a practising solicitor working at the frontline and coalface of family breakdown cases, and Jonathan speaks not only as co-author of the Galbraith Tables, but as a frequently appointed Pensions on Divorce Expert (PODE) offering specialist input in that capacity on divorces...

This Practice Note outlines green loans and the principal considerations when preparing a green loan agreement. It centres on the Green Loan Principles (GLP) issued by the Loan Market Association (LMA), the Asia Pacific Loan Market Association (APLMA) and the Loan Syndications and Trading Association (LSTA)... Clarifies the meaning of a green loan Introduces the GLP and the accompanying GLP guidance Sets out the four core components of a green loan under the GLP and summarises the related guidance Condenses GLP and GLP guidance on what qualifies as a green loan, on reviews, and on greenwashing risks Provides sources for precedent wording, including the Loan Market Association draft provisions, plus drafting pointers What is meant by a green loan? Under the GLP, green loans encompass any form of loan instrument and/or contingent facility (for example, bonding lines, guarantee lines or letters of credit) where the proceeds, or an equivalent amount, are applied solely to fund, re-finance or guarantee, in...

The automated unfair dismissal schedule of loss application streamlines preparing a schedule, enhances accuracy and makes future revisions straightforward. It: enables creation of a claimant’s schedule or a respondent client’s counter-schedule for an unfair dismissal matter performs the statutory and numerical calculations needed to evaluate the worth of the claim generates a clear, structured document detailing the losses sought and the calculation of the overall figure The settings proceed on the basis that: the claimant’s dismissal took place on or after 29 July 2013 the claimant has standing to bring an unfair dismissal claim (see Practice Notes: Entitlement to claim unfair dismissal and Qualifying period for unfair dismissal) the monetary loss arising from the dismissal (eg loss of earnings) is greater than any sums offsetting loss (eg enhanced redundancy payments or income earned in mitigation) Access the tool here: LexisCalculate Employment: Schedule of Loss application. Open it in a Chrome, Edge or Firefox web...

This Practice Note sets out the core concepts and issues concerning ETDs, including: what ETDs are and how they operate how ETDs mitigate counterparty risk via clearing and collateralising trades how ETDs are traded and matched on a regulated exchange how ETDs are given-up for clearing, and how collateral is managed For more information on the differences between OTC derivatives and ETDs, see Practice Notes: OTC and exchange traded derivatives—key features and concepts and OTC and exchange traded derivatives—documentation. What are exchange traded derivatives? ETDs are derivative contracts entered into through a regulated exchange (the Exchange). The Exchange functions as a market mechanism that enables the exchange of offsetting derivative positions. It offers a venue where a relatively narrow range of futures and options is traded on standard terms. To be traded and matched on the Exchange, contracts must carry highly standardised terms and conditions. Unlike often bespoke OTC derivative contracts, ETDs are generally inflexible regarding the selection...

Precedent Target product carbon footprint clause—schedule for consumer goods contracts Use this schedule within a manufacturing contract for the supply of consumer goods to oblige the parties to adopt a target product carbon footprint budget—one that diminishes over time—for each product manufactured and supplied pursuant to the contract. The clause is consistent with the Paris Agreement objectives, the Race to Zero criteria, and the Oxford Principles for Net Zero Aligned Carbon Offsetting as stated. This sustainability wording was created by The Chancery Lane Project (TCLP) as ‘Ming’s clause’ and is accessible via TCLP’s website below, where the linked text appears for reference. For comprehensive and relevant guidance on target product carbon footprint budgets, please consult the TCLP clause for direction as needed. TCLP is the codename for a focused, collaborative initiative of lawyers from around the world to craft new contracts and model legislation to tackle climate change. For further details, visit: chancerylaneproject.org. Lexis+® is proud to support the work of TCLP...