What does PAIF mean? In legal practice, a PAIF (Property Authorised investment Fund) is an authorised open‑ended investment company (OEIC) used to hold predominantly real estate assets or shares in UK REITs and comparable non‑UK REIT‑type vehicles, with tax treatment broadly aligned to the UK REIT regime at fund level. The PAIF regime is established in UK tax legislation and FCA rules and guidance, and applies consistently across England & Wales, Scotland and Northern Ireland; it is not a concept in Irish law. To qualify, the fund must be an OEIC, meet conditions on investment mix, business activities, ownership (including genuine diversity...
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A review of LBTT by the Scottish Government began in spring 2025. It is also exploring LBTT reliefs for Co-ownership Authorised Contractual Schemes (CoACS), Property Authorised Investment Funds (PAIFs) and Reserved Investor Funds (RIFs), with a Consultation paper issued on 11 July 2025. For more details, see OEICS (including PAIFs), CoACSs and RIFs below. Background and overarching principles for land and buildings transaction tax (LBTT) appear in Practice Note: Scotland: Land and buildings transaction tax (LBTT)—the basics. This Practice Note outlines how LBTT operates for specific categories of transactions and taxpayers, including:
For further information about LBTT, see the other Practice Notes on LBTT:
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When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...
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...
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 ...
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 ]...