Real right meaning

Lycamobile UK Ltd v HMRC [2026] UKUT 74 (TCC) The appellant, Lycamobile UK Ltd (LMUK), marketed a range of ‘plan bundles’ to UK consumers. These packages conferred, for a set duration, allowances or entitlements to use particular telecommunications services and, in some instances, access to additional services. LMUK accounted for VAT on the bundles only when, and to the extent that, the services available under a given bundle were actually consumed in practice. HMRC’s position was that VAT became chargeable at the point of sale of the bundles. The timing mattered because real-world take-up of the credit bundles was relatively modest, so calculating VAT by reference to actual consumption would yield a reduced liability. To resolve the dispute, the tribunals focused on identifying the true nature of the supply made to the customer: was LMUK supplying a right to make use of a credit bundle over the period, or was it supplying the credits as such?...

Prepared by Pépin Aslett, barrister and Head of the Business and Property Team, St John’s Buildings, together with Lucas Gregory, pupil barrister, St John’s Buildings. URE Energy Ltd v Notting Hill Genesis [2024] EWHC 2537 (Comm) What are the practical implications of this case? This decision highlights several practical points for practitioners to bear in mind when asked to draft contractual terms or to advise in matters raising the defence of waiver by election. In deciding whether a rights holder suspected that a right might be engaged—and therefore should not have turned a blind eye—the court considered the following: any correspondence or discussions concerning the contract and any potential breaches whether the clause in question would have been prominent or of real significance to a party when negotiating and agreeing the contract whether the term had been expressly brought to that party’s attention whether the provision was drafted in clear language and likely to be readily understood by that individual ...

In this issue: Key developments and horizon scanning Repairing obligations and dilapidations Residential tenancies Service charges Rent and rates Disputes and remedies Neighbour disputes Enfranchisement and right to manage Contractual issues Easements and covenants Property disputes in Scotland Additional Property Disputes updates LexTalk® Property Disputes: a Lexis®Nexis community Daily and weekly news alerts New and updated content Dates for your diary Trackers Key developments and horizon scanning The Renters’ Rights Act 2025—SDLT The Renters’ Rights Act 2025 is intended to bring in tenant-favourable reforms, yet recent reporting has stressed that the roll-out of assured periodic tenancies may result in SDLT becoming payable on rent for some tenants in the years ahead. While these SDLT provisions are long-standing, general awareness remains limited. Andrew Kerr and Ella Perrett of Burges Salmon assess the position. See News Analysis: The Renters’ Rights Act 2025–SDLT. Repairing obligations and dilapidations ...

Taxation regime What factors determine tax liability in your jurisdiction (eg domicile, residence or citizenship)? Türkiye’s tax landscape is intricate, operating through numerous laws, regulations, communiqués and subsequent amendments. The key legislative instruments include: Tax Procedure Law No. 213 (10 January 1961) Corporate Tax Law No. 5520 (21 June 2006) Value Added Tax Law No. 3065 (2 November 1984) Stamp Tax Law No. 488 (11 July 1964) Income Tax Law No. 193 (6 January 1961) Broadly, the Turkish Tax System is considered under three headings: (i) income taxes, such as individual income tax and corporate income tax; (ii) taxes on expenditure, including Value Added Tax (VAT), the Banking and Insurance Transactions Tax and Stamp Tax; and (iii) taxes on wealth, for example Property Tax and Inheritance and Gift Tax. For natural persons, residency, ownership of property and citizenship are key in determining which taxes apply in Türkiye. An individual’s tax burden is mainly linked to their earnings,...

A glossary of frequently used terms and phrases in Scottish Private Client law, with the closest England and Wales equivalents (where applicable) and links to helpful websites Ab intestato Meaning From someone who dies without a will; describes property taken under the laws of intestate succession. Nearest English equivalent None Action of specific implement Meaning A court action seeking an order compelling a party to carry out a particular act. In Scotland there is no division between equitable and legal remedies, unlike England and Wales. Nearest English equivalent Specific performance (an equitable remedy for breach of contract that can be ordered alongside, or in place of, damages) Advance notice Meaning An entry in the relevant property register that protects the grantee of a deed intended for registration in the Land Register of Scotland. The protected period of 35 days begins on the day after registration....

In recent years, the phenomenon of older clients who are asset-rich but cash-poor has become increasingly common. Typically, their wealth is locked in a home that has climbed markedly in value over time, while income from pensions and savings has stayed largely static, if not fallen in real terms. Unsurprisingly, many wish to convert that fixed, generally unrealisable wealth into cash without having to sell their home. Equity release basics Equity release may offer a solution. Funds released can be taken as a lump sum, regular income, or a blend of both. Options fall into two main types: Lifetime mortgages, where the homeowner raises money by securing a mortgage on the property. The borrowing is repaid only when the homeowner dies or no longer needs the home (eg on moving permanently into residential care). Home reversion plans, where the owner sells a share, or all, of their home to a reversion company but retains the right to continue living there either rent-free or for...

Dated [ insert date ] Introduction This legal due diligence questionnaire concerns the intended acquisition by [ insert buyer name ] ( Newco ) of the whole issued share capital of [ insert name of target company ] Limited (the Target ) from [ insert seller name ] (the Seller ) (the Proposed Acquisition ). The questionnaire exists to enable Newco, Newco’s solicitors and its professional advisers involved in the Proposed Acquisition to obtain the information they require to aid the valuation of the Target and the subsidiaries of the Target (the Group and each a Group Company ). We reserve the right to raise further enquiries in relation to both your replies to this questionnaire and generally...

Legal due diligence questionnaire—private M&A—share purchase Dated [ insert date ] Introduction This legal due diligence questionnaire concerns the intended purchase by [ insert buyer name ] (the Buyer) of the whole of the issued share capital of [ insert name of target company ] Limited, incorporated in England and Wales under number [ insert company number ] (the Company), from [ insert seller name ] (the Seller) (the Proposed Acquisition). This questionnaire is intended to assist the Buyer, the Buyer's solicitors and other professional advisers acting on the Proposed Acquisition to secure the information the Buyer needs to inform its valuation of the Company. Please respond to each question comprehensively. Please set out your responses in italics immediately beneath each question and kindly supply copies of all relevant documentation, ensuring that all responses and documents are plainly identified by reference to the appropriate paragraph of this questionnaire. We reserve the right to raise further enquiries regarding both your responses to this questionnaire and, more generally, matters arising...

This Deed is dated [ insert date ] 20[ insert year ] Parties [ Insert name of Chargor ], a company registered in England and Wales (number [ insert company number ]) whose registered office is at [ insert address ] (the Chargor); and [ insert name of Lender ] of [ insert address ] (the Lender). Recitals The Lender makes facilities available to the Chargor under various finance arrangements. The availability of those facilities is conditional upon the Chargor entering into this Deed in favour of the Lender...