Sunset-periods meaning

Legislation safeguards the pension entitlements of members of occupational pension schemes and other employment‑related benefit arrangements, including workplace personal pension schemes that receive employer contributions, while they are away from work on statutory family leave. Statutory family leave encompasses: maternity leave paternity leave adoption leave parental leave shared parental leave parental bereavement leave carer’s leave Maternity leave Occupational pension schemes are taken to include a maternity equality rule requiring periods when a member is on maternity leave to be treated in the same manner as periods when they are not on maternity leave. This maternity equality rule applies to both paid and unpaid ordinary maternity leave (OML), as well as to paid additional maternity leave (AML). As a result, under this rule, time spent on OML and paid AML in a defined benefit (DB) scheme is recognised as pensionable service...

This Checklist sets out the principal procedural steps and considerations for parties preparing or answering a request to extend time in judicial review claims before the Administrative Court. It should be read alongside Practice Note: Judicial review time limits—extensions and urgent cases. Time limits for bringing claims and the requirement to act 'promptly' Where proceedings are started in the High Court, the claim form must be lodged promptly and, in any case, no later than three months from the date the grounds first arose, subject to the shorter periods below: challenges to planning decisions must be issued within six weeks of the date the grounds to bring the claim first arose challenges to procurement decisions under the Public Contracts Regulations 2015 must be brought within 30 days of the date the grounds to bring the claim first arose...

ARCHIVED: This archived checklist summarises how the 2012 edition of the UK Corporate Governance Code differed from the 2010 UK Corporate Governance Code. It is not maintained and is supplied for background information only. Checklist—2010 UKCG Code and 2012 UKCG Code compared In September 2012, the Financial Reporting Council issued a new edition of the UK Corporate Governance Code (the 2012 UKCG Code) following its two-yearly consultation on potential amendments to the UK Corporate Governance Code (UKCG Code), which began in April 2012. The 2012 UKCG Code applies to companies with accounting periods commencing on or after 1 October 2012. The points below indicate how the 2012 UKCG Code varied from the version released in 2010 (the 2010 UKCG Code): Governance and the Code: Wording unique to the 2010 edition and the preceding review of the UKCG Code has been removed. Preface: Wording unique to the 2010 edition and the preceding review of the UKCG Code has been removed...

This Checklist is intended for situations where: a leasehold property is being purchased and the tenant (or a predecessor in title) entered into an agreement for lease prior to completion of the lease; or a reversionary interest is being bought and the reversioner (or a predecessor in title) entered into an agreement for lease before completion of an existing occupational lease, or an agreement for lease remains in place pending completion of a lease. In each case, the agreement for lease predates completion of the relevant lease. You should confirm whether any outstanding or continuing obligations in the agreement for lease (eg to rectify defects or undertake works) will bind the purchaser. Any surviving obligations that bind successors in title could adversely affect the property’s investment value. Note that this Checklist is not comprehensive and, depending on the nature of the transaction, other issues may arise from the agreement for lease and require consideration. This Checklist also does not address limitation periods...

Under the Landlord and Tenant Act 1954 (LTA 1954), a business lease carries on automatically after the end of the contractual term if the tenant remains in occupation for business purposes. Either party can bring those statutory rights to an end by serving one of the prescribed termination notices. This flowchart explains the steps for an unopposed business lease renewal under the LTA 1954. For the procedure where renewal is opposed, see: LTA 1954 opposed lease renewal procedure—flowchart. For further detail on LTA 1954 security of tenure and the court process, consult Practice Notes: LTA 1954 business lease renewal—proceedings and LTA 1954 business lease renewal—termination. Note 1 Diarise a date at least 12–18 months before the contractual expiry of the existing lease. See Practice Note: LTA 1954 business lease renewal—termination. Note 2 Information must be supplied within one month of service of the notice. A party is obliged to correct any information provided for six months after receiving the notice. This applies to both parties equally...

This flowchart relates to losses incurred before 1 April 2017 that are set against profits arising in those relevant accounting periods that commence before 1 April 2017...

In this issue: Electricity and gas market regulation and licensing Networks and network connections Air emissions, efficiency and climate change Daily and weekly news alerts New and updated content Dates for your diary Trackers Electricity and gas market regulation and licensing Ofgem consults on gas transporter licence metering duties Ofgem has launched a consultation on proposed amendments to the Gas Transporter Licence held by National Grid Gas Plc, addressing metering obligations within the Standard Special and Special Conditions, several of which are scheduled to sunset on 31 December 2024. The consultation closes on 2 September 2024. See: LNB News 06/08/2024 4. Ofgem decision on ESO RIGs and RRPs for RIIO-2 Ofgem has confirmed its decision on updated versions of National Grid Electricity System Operator Limited’s Regulatory Instructions and Guidance and Regulatory Reporting Pack for RIIO-2. The updates account for costs linked to New Roles, the Future System Operation transition, National Grid payments, and the...

In this issue: Pay Prohibited conduct (discrimination etc) Equality, diversity and inclusion Whistleblowing Coronavirus (COVID-19) Issues arising on termination Employment tribunals Corporate governance Immigration Daily and weekly news alerts New and updated content IRLR Highlights—September 2024 Dates for your diary Trackers New Q&As Pay Think tank High Pay Centre released analysis of FTSE 100 executive pay for 2023. While CEO pay growth has eased after the post-pandemic surge, the median package hit a new record, up from £4.1m in 2022 to £4.19m in 2023. See: LNB News 12/08/2024 34. Prohibited conduct (discrimination etc) ET permitted to reject dismissal complaints despite the employer’s previous omission to make reasonable adjustments. In Parnell v Royal Mail Group [2024] EAT 130, the claimant brought about 31 employment tribunal claims, divided into two periods, each decided by a different tribunal...

Thiel-Czerwinke and another (joint liquidators of Courtside Recycling Ltd) v Crabb [2024] EWHC 337 (Ch) What are the practical implications of this case? This ruling underlines the uncompromising obligation on directors to maintain trading records, and accepts that discarding or failing to retain them was, on these facts, a constituent part of the director’s fraudulent design. It also clarifies that once office-holders demonstrate that company assets or cash were transferred to a director, the absence of documents showing that the funds or property were applied for the company’s advantage renders the director liable to repay the whole amount to the company. That outcome applies even though the judge did not doubt that Mr Crabb did in fact use some of the cash when making payments for Courtside... What was the background? Mr Crabb served as the Company’s sole director; the business dealt in scrap metal. For the trading periods from August 2014 to February 2018, the Company submitted VAT returns declaring sales, net of VAT, totalling...

Stop Press : From accounting periods starting on or after 1 January 2026, the Diverted Profits Tax is superseded by the unassessed transfer pricing profits rules. This Practice Note, alongside Transactions in UK land—tax rules, examines the anti-avoidance provisions aimed at countering attempts to sidestep tax on income, profits or gains connected with arrangements concerning, or trades of dealing in, land. The main anti-avoidance measure seeks to treat gains of a capital character realised on the disposal of land as income, bringing them within income tax or corporation tax. Further detail appears in Practice Note: Transactions in UK land—tax rules. From 5 July 2016 these rules superseded and expanded the former transactions in land rules (for information on prior rules, see Practice Note: Real estate—anti-avoidance: disposals of land and taxing capital gains as income (pre 5 July 2016) [Archived])...

A risk with employment cessation events is that they can be set off unintentionally, for example because the last remaining active member of an employer in a multi-employer defined benefit scheme has left. The Employer Debt Regulations, SI 2005/678 were amended with effect from 6 April 2008 to introduce grace periods, a device intended to help employers deal with accidental employment cessation events. For further information on employment cessation events and other section 75 triggers, see Practice Note: When is a section 75 debt triggered? When can a grace period be used? When can a grace period be used? An employer in a multi-employer defined benefit scheme may notify the trustees that it wishes to enter a grace period (by giving a grace period notice) if: that employer ceases to employ active members at a time when at least one other employer still employs active members, thereby creating an employment cessation event, and it intends to employ at least one individual who is an...

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...

Insert the following as new definitions (if not already included) in the definitions and interpretation clause of the share purchase agreement: 1 Definitions and interpretation Fairly Disclosed • means information [ fully, fairly and accurately ] disclosed [ (relating specifically to the subject matter of the Warranty and without omitting any fact which may render the Warranty and the matter disclosed untrue, inaccurate and misleading) ] and presented with sufficient clarity and detail to allow a buyer to reach a clear, informed and accurate evaluation of the relevant facts, matters or circumstances concerned; Losses • means any and all liabilities, costs, outgoings (including legal expenses), claims, actions, proceedings, damages, fines, penalties, loss of profit [ and Consequential Loss ]; Tax Warranties • denotes the warranties [ and representations ] contained in paragraph [ insert number ] of Schedule [ insert number ], and Tax Warranty refers to any one of them; Warranties • signifies the warranties [ and representations ] included in Schedule [...

1 Introduction 1.1 Keeping corporate records in an orderly and dependable manner is vital to meet our statutory and regulatory duties, for example concerning data protection, taxation and employment. Doing so also lowers costs and mitigates the risks of holding superfluous information. 1.2 This records management policy guides staff in the correct handling of [ insert organisation name ]’s records. It explains: 1.2.1 the meaning of records; 1.2.2 the methods for classifying and storing records; 1.2.3 the retention periods for different categories of record; 1.2.4 the approach to disposing of records. 2 Responsibility and application 2.1 [ Insert name, department or role holder ] has overall responsibility for this policy. 2.2 This policy covers everyone working for us, including employees, temporary and agency workers, other contractors, interns and volunteers. All staff must read and follow it. 2.3 This policy is not a term of any employment contract and [ insert organisation name ] may add to...

[ insert date of letter ] [ insert name of employee ] [ insert address of employee ] Dear [ insert name of employee ] [ insert name of Company ] (the Company ) I am pleased to inform you that the directors of the Company have authorised the award of an enterprise management incentives (EMI) option ( Option ) to you. Enclosed is a copy of the option agreement, which must be signed by you and the Company for the grant of the Option to become effective. The Option gives you the right to purchase [ insert maximum number and class of shares which can be exercised pursuant to the Option agreement ] shares in the Company ( Shares ) at a price of [ insert exercise price of shares ] per Share [ upon an ‘Exit’ event of the Company (which broadly means a takeover of the Company [ , an asset sale or a listing of its shares ] [ , a...

Weekly rest periods Under the Working Time Regulations 1998 (WTR 1998), SI 1998/1833, reg 11(1), an adult worker has a right to an unbroken rest period of at least 24 hours in each seven-day period during which they work for their employer. Alternatively, within any 14-day window, the employer can provide either two 24-hour rest periods, or one 48-hour rest period. The Health & Safety Executive is tasked with enforcing the maximum weekly working time, limits on night work and health assessments for night work, but it does not police time off, paid annual leave or rest break entitlements. These rights are instead enforced by workers through a complaint under WTR 1998, SI 1998/1833, reg 30, alleging that the employer has failed to allow the exercise of the relevant entitlement. For further detail, see the section of the Practice Note: Hours of work and working time titled ‘Weekly rest periods’. The drafting of WTR 1998, SI 1998/1833, reg 11 is couched in terms of entitlement rather than obligation; ie...

Yes, bank holidays are excluded when calculating the time period in an adjudication under the Scheme for Construction Contracts. The Scheme for Construction Contracts (the Scheme) sets out certain default rules governing the entitlement to start, and the practical management of, an adjudication process. Under section 108(5) of the Housing Grants, Construction and Regeneration Act 1996 (HGCRA 1996), the Scheme’s terms are read into a construction contract where it omits, or conflicts with, any of the obligations in subsections 108(1) to (4)...

If an employee dismissed by reason of redundancy is invited to return to their former post, or to take up another position (with the same employer or an associated employer), and they resume work within four weeks of the previous employment ending, they are treated as not dismissed and have no entitlement to a redundancy payment (section 138(1) of the Employment Rights Act 1996 (ERA 1996)). For more detail, see Practice Note: Renewal of contract, re-engagement and trial periods. On whether an employee’s continuity of employment is preserved during the interval between the old role ending and the new role commencing in those circumstances, see, generally, the following Practice Notes: Continuity of employment How to determine continuity of employment Working out an employee’s period of continuous employment with an employer is relevant to qualifying for certain statutory rights under the Employment Rights Act 1996 (ERA 1996). There is a prescribed approach to calculating continuity that overrides any agreement between employer and...