Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Rent definition

What does Rent mean? Rent is the monetary consideration a tenant pays to a landlord for the right to occupy premises under a lease. In UK and Irish practice, rent must be certain or objectively ascertainable from the lease throughout the term, typically by stating an annual sum and (if applicable) a review formula (open market rent review, index‑linking or fixed uplifts). Commercial rent is commonly payable in advance by equal instalments on the specified rent payment dates. English quarter days (25 March, 24 June, 29 September, 25 December) remain widely used in England & Wales and Northern Ireland; Scotland traditionally uses Scottish term days...

Set-off under English law: availability, requirements and limits—independent, transaction, contractual, insolvency and banker's set-off; mutuality, trusts, assignments, and unmatured, unliquidated and contingent claims

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Practice notes

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Set-off remains a nuanced but significant doctrine across litigation and a wide range of Transactions. Both independent set-off and transaction set-off may serve as defences in legal proceedings. For further detail, see Practice Notes: Independent set-off and transaction set-off and Pleading set-off. In commercial contexts, transaction set-off is a key entitlement for a party asserting breach of contract to resist a demand for payment under that contract. Parties to a contract can also make express provision for set-off in their written terms, either widening or curbing the extent of mutual rights to set off. For more information, see Practice Note: Contractual set-off. Within finance deals, contractual set-off, insolvency set-off and banker's set-off are often central. For more information, see Practice Note: Set-off in finance transactions. The construction industry also relies on set-off to help regulate cash flow. For more information, see Practice Note: Set-off in construction. Set-off likewise arises frequently in landlord and tenant relationships, particularly regarding the setting off of Rent. For more information, see Practice Note: Set-off and deductions from rent.

What is set-off?

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Web page updated on 21/05/2026

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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 ...

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