Personal interest meaning

Checklist This checklist sets out the matters a practitioner ought to weigh when assessing general damages. It reviews various heads of damage, such as pain, suffering and loss of amenity (PSLA), Smith v Manchester awards, loss of congenial employment, loss of use, holiday disruption, harm to relationships, reduced marriage prospects, aggravated damages, unnecessary treatment, fatal accidents, and interest. PSLA Pain and suffering reflect the claimant’s personal, subjective experience. Loss of amenity denotes a diminished capacity to carry out ordinary activities. Damages can be granted for physical and/or psychiatric injury and cover distress in the past, present, and future. There is no precise formula for valuation in these assessments of such claims...

This Checklist This Checklist helps pinpoint typical recoverable historic financial outgoings and losses (special damages or historic pecuniary losses) arising before trial. It also aids in collating suitable evidence and highlights the questions that commonly emerge when valuing these losses, setting out recurring issues for consideration as appropriate in practice. For additional guidance, see: Past expenses and losses—overview...

Asset Vests in the trustee in bankruptcy? The bankrupt’s (their family’s) primary/sole residence: Yes (but only for a limited period). It falls into the bankruptcy estate for three years starting on the date the bankruptcy order is made. Reference: IA 1986, s 283A. Freehold property: Yes. Any interest the bankrupt has in land vests in the trustee in bankruptcy. Reference: IA 1986, ss 283(1), 436. Leasehold property: Varies. Save for a few exceptions, leasehold interests vest in the trustee; certain statutory tenancies are excluded by IA 1986, s 283(3A), though the trustee can still claim them by serving a notice. Reference: IA 1986, ss 283(1), 283(3A), 308A. Money/cash: Yes. Any money or cash held when the bankruptcy order is made forms part of the estate and vests in the trustee. Reference: IA 1986, ss 283(1), 436. Pensions: No (mostly). The bankrupt’s pension rights do not vest if: (i) the petition was presented on or after 29 May 2000, and (ii) the pension scheme...

These Flowcharts These Flowcharts offer direction on the proper method for completing the parts of a stock transfer form that address consideration, stamp duty certification, and execution. They are included within an annotated stock transfer form, which clearly sets out instructions explaining how its sections should be properly filled in...

This Flowchart This Flowchart helps determine the appropriate rate of stamp duty land tax (SDLT) for the transaction in question. Different SDLT rates may apply to purchases depending on the property type (residential, non-residential (commercial property), or mixed-use property). Use this Flowchart in conjunction with Practice Note: Rates of SDLT. This Flowchart proceeds on the basis that: the buyer is acquiring a single property and the purchase is not linked with any other transaction. For further detail on linked transactions, see Practice Note: SDLT chargeable consideration—Linked transactions no relief from SDLT applies to the transaction...

What are the restrictions on alterations and when is landlord's consent required? During any due diligence on acquiring a head lease, it is vital to assess the tenant’s scope to carry out alterations. Clauses that are overly restrictive can materially reduce value, obstruct a purchaser’s ability to raise finance, to let, to dispose of its interest in future, or otherwise deal with it, and can also present a continuing property management burden...

On 19 November 2025, the Commission unveiled its Digital Omnibus proposal. It comprises two principal strands: one delivering ‘quick fixes’ to pain points in Regulation (EU) 2024/1689, the EU AI Act, and another, more intricate, amending the data acquis, most notably Regulation (EU) 2016/679, the EU General Data Protection Regulation (EU GDPR), Directive 2022/58/EC, the ePrivacy Directive, and Regulation (EU) 2023/2854, the EU Data Act. The headline items are delays to the high-risk AI rules under the EU AI Act, and a fresh EU GDPR lawful basis of legitimate interest for processing personal data when developing or operating AI systems (with safeguards). There is much to absorb—just as we get to grips with the new regime, changes are proposed, some bound to be disputed while others will be seen as eminently sensible. Here we outline the key points. EU GDPR The EU’s flagship legislation, the EU GDPR, is poised for its first substantial overhaul, with several significant amendments on the table...

Banking & Finance—October 2024 case round-up Brierley v Otuo and others [2024] EWHC 2549 (Ch) — Security: cost recovery on legal mortgages The court refused the mortgagee’s appeal against a 28 July 2023 order that barred recovery of sale and enforcement costs on specified properties. The decision followed the established rule on legal mortgages set out in Fisher & Lightwood’s Law of Mortgage (paragraph 55.6). Put simply, unless the mortgage contains an express term, there is no implied duty on the mortgagor to pay the mortgagee’s costs, charges and expenses, so they cannot be recovered from the mortgagor personally, save where personal liability has arisen in the particular case. Nevertheless, those costs are rolled into the secured indebtedness and, as against the mortgagor and anyone with an interest in the equity of redemption, they are treated as part of the amount owing under the security and must be satisfied as a condition of redemption......

In this issue: Private equity and venture capital Employment taxes Taxes management and litigation Real estate tax Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Private equity and venture capital CIOT publishes its response to call for evidence on tax treatment of carried interest The Chartered Institute of Taxation (CIOT) has issued its reply to the government’s call for evidence concerning how carried interest is taxed. See: LNB News 03/09/2024 5. Employment taxes Upper Tribunal allows HMRC IR35 appeal (HMRC v S&L Barnes Ltd) In HMRC v S&L Barnes Ltd, the Upper Tribunal (UT) set aside the First-tier Tax Tribunal’s (FTT) decision and upheld HMRC’s appeal, concluding that the intermediaries legislation (IR35) applied to a personal service company supplying the services of former rugby international Stuart Barnes (B) to Sky TV as a co-commentator and pundit. See News Analysis: Upper Tribunal allows HMRC...

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...

The official receiver (OR) is designated as trustee in bankruptcy (trustee) or as liquidator to manage and investigate every bankruptcy and court-ordered winding up, including those of partnerships. The Secretary of State or the creditors may, in place of the OR, appoint an insolvency practitioner (IP) to act as trustee for personal insolvencies or as liquidator for corporate cases. Under the Insolvency Regulations 1994, SI 1994/2507, as amended (the Regulations), the OR or IP, as appropriate, is obliged to pay into the (ISA) any funds they receive while administering all bankruptcies and compulsory liquidations. Before 1 October 2011, sums from voluntary liquidations could also be lodged in the ISA; now, only unclaimed dividends in a voluntary liquidation may be paid into the ISA. Likewise, unclaimed dividends arising in an administration or an administrative receivership may be paid into the ISA once the company has been dissolved. The Regulations also permit payments out of the ISA for disbursements, expenses and distributions to creditors and, in a liquidation, to contributories, or, in...

FORTHCOMING CHANGE: Potential changes to Wills Act 1837 The Law Commission’s review of wills culminated in a final report on 16 May 2025. Volume II contains a Draft Bill proposing replacement of the Wills Act 1837. For details of these proposals, including the published draft legislation, see Practice Note: Hot topic—modernising Wills and Modernising wills: Final Report Volume II: Draft Bill for a new Wills Act. STOP PRESS: Abolition of non-dom regime and introduction of residence-based IHT regime The Finance Act 2025 (FA 2025), which received Royal Assent on 20 March 2025, implements the abolition of the remittance basis and introduces a residence-based regime from 6 April 2025. FA 2025 makes residence, rather than domicile, the main determinant of liability to inheritance tax. changes to the rules defining excluded property status; removal of protected settlements status for offshore trusts; and modifications to overseas workday relief. For further information, see Practice Notes: The abolition of the remittance basis of taxation...

This TRUST is dated [ date ] Parties [ name ] of [ address ], represented by [ name ] of [ address ] (the Litigation Friend) [ name ] of [ address ] and [ name ] of [ address ] (the Original Trustees) Background The Trust is named [ insert name ] (the Trust). The Trust is created to accept the compensation payable for a personal injury to [ insert name ] (the Beneficiary), who lacks capacity to manage their property and financial affairs under the Mental Capacity Act 2005. Following the personal injury, legal proceedings [ under Claim Number [ insert number ] ] were commenced and an order for payment of compensation was made on [ date to be completed once order is made ]...

Schedule of loss & dependency in a fatal accident claim [ IN THE COUNTY COURT AT [ INSERT ] OR IN THE HIGH COURT OF JUSTICE ] [ [ Specify division ] ] [ [ Insert location ] DISTRICT REGISTRY ] Claim No: Between AB, Claimant (the Widow and Executrix of the estate of A, deceased) and C Limited, Defendant Note On 2 December 2024 the Lord Chancellor confirmed that the discount rate would move to a positive 0.5%. That positive 0.5% rate takes effect from 11 January 2025. Under Schedule A1 to the Damages Act 1996, later reviews must occur within five years of the end of the previous review, meaning the next review must begin on or before 2 December 2029. The Claimant retains the right to revise, modify or supplement this schedule at any time up to and including trial...

For the purposes of this Q&A, it is assumed that: the leasehold property forms part of the unadministered Estate the Estate bears the primary responsibility to pay the service charge the beneficiaries in occupation have a right to occupy the leasehold property Whilst the Estate is being administered, legal ownership of the deceased’s unadministered assets is vested in the personal representatives (PRs) for the purposes of administration and to carry out that administration. In the meantime, no beneficiary, whether taking under the deceased’s Will or by intestacy, has any proprietary interest in any particular or identifiable asset comprised within the unadministered Estate, nor any enforceable claim to such an item. See Practice Note: Beneficiaries’ rights and remedies. The PRs hold extensive powers to administer and manage the deceased’s Estate...

Section 283 of the Insolvency Act 1986 (IA 1986) In general terms, section 283 states that every asset belonging to the bankrupt, or in which the bankrupt held an interest on the date the bankruptcy order was made, forms the bankruptcy estate. Under IA 1986, s 306, that estate vests in the trustee in bankruptcy (trustee) immediately and automatically on appointment, and stays vested until the trustee deals with it, typically by sale—see Practice Note: What assets vest in the trustee in bankruptcy and what steps does the official receiver or trustee in bankruptcy need to take? Where the estate includes land or a beneficial interest in land, the trustee should ensure that the correct entries are or become noted against the title, whether the title is registered or unregistered. Depending on whether the property is owned solely or jointly, certain entries may (or should) be made automatically; if they are not, the trustee can apply to the Land Registry. For more detail, see Practice Note: Protecting a...

Section 3 of the Landlord and Tenant (Covenants) Act 1995 (LT(C)A 1995) Section 3 of the Landlord and Tenant (Covenants) Act 1995 states that, for any tenancy to which the LT(C)A 1995 applies, every landlord and tenant covenant attaches to and is inherent in the entirety of the demised premises and their reversion, as well as in each and every part, and on an assignment of the whole or any part of the premises or of the reversion, those rights and obligations pass in line with the section, and will do so automatically on such assignment. This signifies that covenants are not, save for specified exceptions, personal as between the parties; rather, they relate to, and run with, the land...