Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Enterprise definition

What does Enterprise mean? In legal practice, enterprise refers to the economic activities of a business, or a discrete part of those activities, that can operate as a going concern. In UK merger control and market investigations, the Enterprise Act 2002 defines enterprise as the activities, or part of the activities, of a business. The Competition and Markets Authority (CMA) asks whether two or more enterprises cease to be distinct, which can occur through a share acquisition or an asset purchase that brings together a functioning business unit (for example, staff, systems, contracts, goodwill and customer relationships). The analysis focuses on activities rather than...

CSOPs: UK CGT on grant, exercise and disposal; option surrender; BADR; annual exemption and spouse transfers; and corporation tax relief

Published by a LexisNexis Share Incentives expert

Practice notes

Capital gains tax—basic principles

When someone disposes of an asset and realises a profit that is capital in nature, this could amount to a taxable capital gain. In assessing whether a liability to tax arises, there are several matters to review:

the asset, the act of disposal, and the individual making that disposal must each be of a kind that can fall within capital gains tax (CGT)
the ‘consideration minus costs’ calculation must produce a positive figure:
- for more on computing the gain, see Practice Note: How is a capital gain calculated?
an exemption or relief might be available:
- certain assets, and certain persons, are wholly outside CGT (see Practice Note: What is a capital gain?)
- individuals are not chargeable to CGT to the extent that gains within a tax year do not exceed the annual exempt amount (AEA). Where taxable gains exceed the AEA, only the excess is charged
- business asset disposal relief (BADR) may apply (see Practice Note: Business asset disposal relief and share options), and
- option holders may also be able to use their partner's AEA via spouse transfers, and...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Web page updated on 21/05/2026

Popular documents

Using the Judicial College Guidelines to assess general damages in personal injury claims

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Tomlin orders in England and Wales: CPR guidance on drafting, confidentiality, approval, variation, enforcement, limitation, CCA issues, court-specific requirements, sample wording and precedents

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Precedent: Deed of Surrender of Lease with Optional Premium, Settlement and Release, Landlord, Mortgagee and Guarantor Consents, Reimbursement and HM Land Registry Provisions (England and Wales)

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Precedent Statutory Declaration: Standard Wording under the Statutory Declarations Act 1835

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...