Personal Accounts meaning

Existence and validity of trusts Provincial Equity Finance Ltd v Dines (née Breda) [2023] EWHC 103 (Ch) News Analysis: A literary epigraph—‘By prosperous voyages I often made… and the great care of goods at random left’—introduces a consideration of resulting trusts and the scope of express trusts. The decision underscores the practical obstacles in proving a resulting trust where a disorganised deceased ran bank accounts for mixed ends, and confirms that an express trust can override the presumption of a resulting trust even if the contributor of funds is not a party to the express trust. Author: Nicholas Holland, McDermott Will & Emery UK LLP Jurisdiction: England & Wales Attorney General v Zedra Fiduciary Services (UK) Ltd and others [2022] EWHC 102 (Ch) News Analysis: The court sanctioned a cy près scheme for a £600m charitable trust to be used towards reducing the National Debt, addressing the suitable application of the National Fund. The judgment considers...

A checklist to capture instructions from either a franchisor or a franchisee in relation to a proposed franchise agreement, covering parties, general matters and background. PARTIES Full legal name and full postal address of the franchisor If the franchisor is a limited company, please state its registered office address, company registration number and accounting reference date If the franchisor is not incorporated, on what date are its accounts prepared each year? Will franchisees operate as sole traders, traditional partnerships, LLPs, or limited companies? Is a guarantor required for the franchisees’ obligations under the agreement? Where franchisees are companies, does the franchisor insist on a personal guarantee from the principal shareholder, to secure recovery of any potential losses or damages? Must the franchise be owner-run, or is it intended as a management model? GENERAL Brief outline of the franchisor’s business, and the proposed franchise activity if different For how long has the franchisor carried...

This checklist sets out the requirements for the content of schemes’ annual reports and accounts under the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013, SI 2013/2734. For fuller guidance on the duty on occupational pension schemes to produce annual reports and accounts, see Practice Note: Pension scheme annual reports and accounts. Requirement to prepare and disclose a pension scheme annual report Trustees of an occupational pension scheme meeting the conditions in the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013, SI 2013/2734, Sch 1, Para 1 must produce an annual report no later than seven months following the close of each scheme year. For further details, see: Disclosure requirements for occupational and personal pension schemes—the 2013 disclosure regulations—Scope of the 2013 Disclosure Regulations. The annual report must be provided to any relevant person (that is, a member, prospective member, their spouse or civil partner, a beneficiary or a recognised trade union) who: requests the document within five years...

PI & Clinical Negligence weekly highlights—24 July 2025 In this issue: Key PI and Clinical negligence developments Occupational disease Accidents abroad Other PI and Clinical negligence news LexTalk® PI & Clinical Negligence: a Lexis®Nexis community Daily and weekly news alerts LexisNexis® Webinars Useful information Key PI and Clinical negligence developments SI 2025/893 (Civil Procedure (Amendment No 2) Rules 2025) modifies the Civil Procedure Rules 1998, SI 1998/3132, revising Rule 2.8 (time) and Rule 5.5 (filing and sending documents) to reflect the roll-out of new Practice Direction 5C covering the CE-File electronic filing and case management system, following its piloting under Practice Direction 51O (electronic working pilot scheme). The changes come into force in part on 12 September 2025, and in full on 1 October 2025. Refer to LNB News 22/07/2025 19 for details. NHS Resolution publishes Annual Report and Accounts for 2024/25 NHS Resolution has issued its Annual Report and Accounts for 2024/25,...

Lifestyle Equities CV and Another v Ahmed and Another [2024] UKSC 17 What are the practical implications of this case? The Supreme Court has delivered its long‑awaited ruling on the appeal and cross‑appeals in Lifestyle Equities CV v Ahmed, proceeding from Lord Justice Birss’s judgment in the Court of Appeal [2021] EWCA Civ 675. Lord Leggatt wrote for the court, with Lords Kitchen, Lloyd‑Jones, Stephens and Richards agreeing. The judgment sets out a series of significant conclusions: Accessory liability (as a joint tortfeasor) in respect of a strict liability tort is not itself governed by the same strict standard. Conversely, an accessory must possess knowledge of the essential aspects of the tort to justify imposing joint liability on a person who has not themselves committed it. The identical test applies whether accessory liability is said to arise by procuring the tort or by participating in a common design with the primary tortfeasor. An account of profits sought from an accessory will therefore never...

In this issue: Key PI and Clinical negligence developments Civil procedure rule committee minutes Psychiatric and occupational stress Injuries caused by animals Claims involving a child Claims involving a fatality Costs and funding Other PI and Clinical negligence news LexTalk® PI & Clinical Negligence: a Lexis®Nexis community Daily and weekly news alerts LexisNexis® Webinars Useful information Key PI and Clinical negligence developments MoJ announces reduction in CFO’s interest rates The Ministry of Justice (MoJ) has confirmed reduced interest rates for the Courts Funds Office (CFO) special and basic accounts. The special account rate moves from 4.75% to 4.50%, while the basic account rate shifts from 3.56% to 3.38%. Effective from 3 March 2025, the revision follows the Bank of England’s base rate cut on 6 February 2025 and is intended to ensure the CFO Service can continue to cover operational costs. See: LNB News 04/03/2025 38...

Following a series of court decisions and influential commentary, it is now widely accepted that, under English law, cryptoassets are neither things in possession nor things in action; instead, they comprise a distinct third form of property as data objects. The Proceeds of Crime Act 2002 (POCA 2002) establishes, in broad terms, two routes for the realisation of criminal proceeds: a conviction-based restraint and confiscation regime under POCA 2002, Pt 2, criminal in character and largely managed by the criminal courts under the Criminal Procedure Rules 2025 (CrimPR 2025), SI 2025/909; and a non-conviction based asset recovery regime under POCA 2002, Pt 5, operating within the civil jurisdiction. In England and Wales, at a high level, this results in: proceedings before the magistrates’ court, in its civil jurisdiction, for the freezing and forfeiture of (i) cash, (ii) high value personal property, and (iii) money in accounts held with financial institutions (FIs); and proceedings before the High Court for a...

PI & Clinical negligence horizon scanner—July 2025 [Archived] ARCHIVED: This Practice Note is archived and is not maintained. It summarises the principal legal developments relevant to personal injury and clinical negligence practitioners as at July 2025. For developments predating this horizon scanner, see PI and Clinical Negligence horizon scanning and key cases—overview. Key PI and clinical negligence developments The personal injury discount rate—a review In late 2024, the Lord Chancellor, Shabana Mahmood MP, revealed the outcome of her five‑month review of the discount rate, initiated in July 2024. One month after the new +0.5% discount rate took effect, Thea Wilson (barrister at 12 King’s Bench Walk) assesses its impact on cases, the responses from claimant and defendant representatives, and the consequences of the change for legal practitioners. See News Analysis: The personal injury discount rate—a review. MoJ announces reduction in CFO’s interest rates The Ministry of Justice (MoJ) has announced lower interest rates for the Courts Funds Office’s (CFO) special and basic accounts...

Assimilated law Assimilated law describes retained EU law that continues to apply after the close of 2023. For more detail, see Practice Note: Assimilated law. This Practice Note offers guidance on the rights of data subjects in the employment setting. It reflects the UK GDPR framework, and statutory references are to Assimilated Regulation (EU) 2016/679, the UK General Data Protection Regulation (UK GDPR) and the Data Protection Act 2018 (DPA 2018), unless stated otherwise. It also accounts for provisions of the Data (Use and Access) Act 2025 (DUAA 2025) in force as at 5 February 2026 (see Practice Note: Data (Use and Access) Act 2025—employment implications). Updated guidance from the Information Commissioner’s Office (ICO) is awaited. For an overview of key themes in the Assimilated Regulation (EU) 2016/679, UK GDPR and DPA 2018, and for employment‑specific guidance, see: The UK GDPR and DPA 2018: key data protection issues for employment lawyers, and The UK GDPR and DPA 2018: lawful processing of personal...

Deed of indemnity dated [ date ] Parties [ beneficiaries ] of [ addresses ] (Beneficiaries) [ trustees ] of [ addresses ] (Trustees) Background (A) The Trustees act as trustees of a trust dated [ date ] between [ parties ] (the Trust). (B) It is considered that [ detail breach of trust ] may amount to a breach of trust (the Breach of Trust), and the Beneficiaries agree to release and indemnify the Trustees against it. This Deed provides: The Beneficiaries, jointly and severally, covenant with the Trustees that they and their personal representatives will at all times keep the Trustees fully and effectively indemnified against all actions, proceedings, accounts, claims and demands arising in respect of the Breach of Trust. Executed as a deed by the parties on the date at the start of this deed. SIGNED AND DELIVERED AS A DEED by [ insert name ] in presence of: ...

A. Documents for main applicant Evidence of the sponsor parent(s)' income and funds: Examples of suitable evidence are set out below. While a six-month span is not mandated by the Immigration Rules, it is recommended as a reasonable timeframe for demonstrating income and savings. Payslips for the previous six months (for employed persons). And/or proof of business or self-employment income for at least the last six months, such as: (a) Letter from a registered accountant for the business confirming the sponsor parent(s)’ income during that period. (b) Invoices. (c) Business accounts. Personal bank or building society statements or passbooks covering the past six months. Any accountant providing a supporting letter must be registered with an appropriate professional regulatory body. Bank or building society statements should show what has been paid in and out of the accounts for the past six months...

[ insert name of beneficiary ] [ insert address of beneficiary ] [ insert date ] The late [ name of deceased ] Dear [ insert name of beneficiary ], Further to my correspondence dated [ date of last letter ], I am pleased to advise that the personal representatives have now obtained the grant of [ probate OR letters of administration ] in respect of [ name of deceased ]’s estate. Please find enclosed a copy of the interim accounts for your reference. Once we are in receipt of all liquidated assets and the final accounts have been approved, we can proceed with the final distributions and bring the estate administration to a close. If you have any queries, please do get in touch. I look forward to hearing from you. Yours sincerely,...

In financial remedy proceedings, it is usual for one party to earn on a self-employed footing as a sole trader in practice. Instead of using a separate legal personality, for example a company acting as the primary earning vehicle and paying salary and dividends, they trade in a chosen style or their own name and settle personal income tax on profits. Business costs are set off in the ordinary manner, and accounts are normally drawn up for this very purpose. Some sole traders simply run income and outgoings through a personal bank account, while others prefer to operate from a separate, dedicated business account...