Wholly-insured scheme meaning

Sarabande v HMRC [2025] UKFTT 93 (TC) SB, a registered charity, holds a long lease of a central London property (the Building). Suture Inc Ltd (SIL), SB’s wholly owned subsidiary, is not VAT-registered. In 2018, SB opted for voluntary VAT registration and sought to recover £341,487.31 of VAT incurred on purchasing and refurbishing the Building. The project transformed what had been a warehouse-style area into art studios, gallery space and meeting rooms. SB’s objective was to create a venue to nurture an artists’ community, and it devised a structured support scheme for artists called the ‘Accelerator Programme’. Through this programme, artists were offered curated, subsidised space, comprising studio and exhibition areas together with a bundle of benefits, including use of professional equipment, guidance from sector specialists and hands-on assistance from as well as advice from industry experts and practical support offered by SB within the Building to participants in the scheme on a structured basis throughout...

The European Insurance and Occupational Pensions Authority (EIOPA) has, for years, warned about a widening ‘natural catastrophe insurance protection gap’ across the EU. This gap captures the mismatch between overall losses caused by natural disasters and the portion of those losses that are insured. According to EIOPA and the European Central Bank (ECB), from 1981 to 2023 natural catastrophes cost EU member states €900bn, with one fifth of that bill arising in just the most recent three years. Over the same period, only around a quarter of losses were insured, and that proportion is falling. We have previously outlined EIOPA’s worries about the consequences of this catastrophe gap (see here). In this article, we examine the actions that EIOPA and the ECB now formally propose to narrow the protection gap, as set out in a paper issued on 18 December 2024 (the 2024 Paper). In brief, the proposals (explained further below) rest on two pillars: a public–private, EU‑wide reinsurance facility (designed to complement existing national insurance schemes in some member...

Wood and another v Desai and another [2024] EWHC 1893 (Ch) What are the practical implications of this case? From a practical standpoint, the outcome is vexing, as it uncovers a lacuna that could have been remedied almost a hundred years ago. The judgment observes that Re Harrington Motor Co Ltd, ex p Chaplin [1928] Ch 105 was viewed by the Court of Appeal as highly unsatisfactory, prompting the Third Party (Rights Against Insurers) Act 1930, which paved the way for today’s TP(RAI)A 2010. Under that statutory scheme, had the company been insolvent at the moment the pay-out was obtained, the respondents would have been within cover and able to receive the funds (assuming they proved their claim). Here, however, the matter fell between the stools: the pay-out was made before the company qualified as a relevant person for the purposes of TP(RAI)A 2010, and only afterwards did the company tip into insolvency. Some modest legislative refinement might yet be warranted to seal this loophole. That result disadvantages...

Within this Practice Note, the Road Traffic Act 1988 is abbreviated to RTA 1988. Types of insurer and MIB liability In most claims, a motor insurer will extend complete indemnity to their insured under a valid policy. This signifies that the insurer accepts a contractual responsibility to discharge all damages imposed on the defendant driver. However, where the insured breaches the policy (whether before or after the event), the insurer may, under the contract, avoid liability to the insured. In that event, the insurer owes no duty to indemnify the insured thereafter...

The statutory framework Generally, the statutory regime governing private sector occupational pension schemes under Scots law mirrors that applicable across the rest of the UK. That said, the foundational trust law on which most private sector schemes rest is not the same, as Scotland has its own distinct trust legislation and a separate body of case law. The Scottish court structure operates wholly apart from the English system, and although English decisions on pension matters can be helpful in addressing particular questions, they do not bind the Scottish courts. Variations in several other branches of law can also shape how pensions law is interpreted and how practice is carried out. These divergences may affect both legal analysis and day-to-day administration. Application of legislation, guidance and other policy in Scotland When advising on pension schemes governed by Scots law, it is important to verify that any cited legislation in fact extends to Scotland. A comparable approach is required for guidance and policy: there will be occasions when it...

Read this Practice Note alongside Practice Notes: Privacy law—misuse of private information and Privacy law—remedies. Brexit This Practice Note makes multiple references to the European Convention on Human Rights (ECHR), which is given effect in UK law by the Human Rights Act 1998 (HRA 1998). Brexit has not, by itself, altered HRA 1998 or the ECHR’s incorporation through that Act. The ECHR is an international treaty that protects human rights across the member states of the Council of Europe, a body wholly distinct from the EU. The UK remains within the Council of Europe. The EU-UK Trade and Cooperation Agreement confirms that the arrangement leaves the UK’s ECHR obligations unchanged and allows the agreement to be brought to an end if either party denounces the ECHR. For further information, see: Q&A: What does Brexit mean for the Human Rights Act 1998? LNB News 07/01/2021 77: Comment—EU-UK Trade and Cooperation Agreement provisions on human rights See also Practice Note: What does...

2 Access to Local Government Pension Scheme The parties agree that, in accordance with the Best Value Direction [ and any revised Fair Deal Guidance that may apply ], Relevant Employees shall be permitted to remain members of the LGPS (or, in narrowly defined situations, a Broadly Comparable Pension Scheme) for as long as they continue to be [ wholly or mainly ] engaged in delivering the Services. Relevant Employees may enforce the provisions of this Schedule to the extent that such provisions are reflected within the Best Value Direction. ...

This Precedent is a formal declaration of identity relating to a site benefitting from planning permission. Its purpose is to assure any prospective purchaser or mortgagee of the following matters: the planning permission lies wholly within the recognised boundaries of the development site the entirety of the development site falls within the vendor’s or mortgagor’s registered title the site possesses all necessary accesses and services to the property to enable completion of the development; and the site enjoys all rights of access and service connections required for the completed scheme A suitably qualified architect or engineer may provide the declaration. A draft should first be sent to the deponent for approval before it is supplied to the mortgagee or purchaser. It should then be submitted to the mortgagee/purchaser for approval; however, once the foregoing points are properly addressed in drafting, no material amendment ought to be required or accepted. STATUTORY DECLARATION OF IDENTITY I, [ insert name of deponent...