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Introduction to statutory interpretation The aim of statutory interpretation is to determine the legal meaning of a statute, that is, the sense that expresses the legislator’s intention. The clearest guide to that intention is the statutory wording itself, read in its context and with its overall purpose in mind, and its broader legislative setting. Courts should seek to fulfil the purpose of legislation by construing its language, so far as they can, in the manner that most effectively serves that purpose. Put differently, the courts’ default method is purposive, and every enactment is to be construed with that end in view. There is a starting presumption that the grammatical and ordinary sense of an enactment reflects the meaning intended by the legislator. Where an enactment reasonably bears only a single meaning, and no other interpretative tools or
This Practice Note addresses identifying a fiduciary, fiduciary duties and obligations, the no conflict rule, the no profit rule, a fiduciary's duty of confidence, and the remedies available for breach of fiduciary duty. Who is a fiduciary? There is no definitive catalogue of relationships that give rise to fiduciary obligations at common law in every situation universally. Certain relationships are inherently fiduciary, eg trustee and beneficiary, solicitor and client, principal and agent, business partner and co-partners, together with mortgagor and mortgagee. The obligations of some fiduciaries have been set out in statute; for instance, trustees owe a statutory duty of skill and care under section 1 of the Trustee Act 2000 (TrA 2000), and directors' relationships with their companies are addressed in the Companies Act 2006 too. For guidance on directors' fiduciary duties, see Practice Note: of directors for further detailed
Definition of ADR Alternative dispute resolution (ADR) is defined in the CPR Glossary as a collective label for methods of settling disputes other than through the usual trial process. Some courts adopt the term ‘negotiated dispute resolution’ (NDR) to describe resolution by alternative means; for ease, this Practice Note uses ADR. For guidance on how ADR is addressed in the various court guides, see Practice Note: ADR and NDR in the court guides. In essence, ADR is a means of resolving a dispute outside the court system. It typically involves a neutral third party who either helps the parties reach a negotiated outcome, or issues a determination of the dispute that is legally binding. A binding result can follow where the agreement to refer the dispute to ADR so provides. There are multiple forms of ADR processes. For an outline of the different types and their
In brief The British constitution is uncodified, meaning it does not spring from a single constitutional document or code. It draws on a wide range of written and unwritten sources. Alongside the principal written sources of law in England and Wales—legislation (which has also introduced international and human rights principles into our constitution) and the common law—the constitution also rests on two further unwritten bases within this system: the prerogative, and non-legal constitutional conventions. In addition, on one view the basic or prevailing principle of our constitution, Parliamentary sovereignty, is ultimately grounded in political fact rather than in law. Legislation Legislation is the foremost source of constitutional law. Acts of Parliament may set out detailed constitutional rules, or even pass authority to create them to ministers or to others. Under the doctrine of Parliamentary sovereignty, legislation is traditionally regarded as taking precedence over any other form or kind of
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The Modern Slavery Act 2015 ( MSA 2015) The Modern Slavery Act 2015 ( MSA 2015) gained Royal Assent on 26 March 2015. Under Section 54, certain firms are required to prepare and make public a statement addressing modern slavery and human trafficking, for each and every financial year of the organisation. The government has issued guidance (the Guidance), which was updated on 27 March 2025. The 2025 revision marks the first wholesale replacement of the Guidance since its initial issue in October 2015, displacing earlier incremental updates. The Guidance states plainly that organisations ought to release their statement as soon as is reasonably practicable after the close of their financial year, and preferably no later than six months after the organisation’s year end. Accordingly, a company with a 31 March year end should, in effect, have its statement available by 30...
Practice Note This Practice Note outlines our materials for corporate lawyers on the UK Market Abuse Regulation ( Assimilated Regulation ( EU) 596/2014). Following the conclusion of the Brexit implementation period, the UK Market Abuse Regulation is in force in the UK. Resources for corporate teams on the UK Market Abuse Regulation ( Assimilated Regulation ( EU) 596/2014) are available within the topic: Financial services regulation for corporate lawyers, under the subtopic Market abuse and market conduct......
People with significant control ( PSC) regime The architecture of the people with significant control ( PSC) regime, which first commenced on 6 April 2016, is contained in Part 21A of the Companies Act 2006 ( CA 2006). Its purpose is to tackle worries about the lack of transparency in corporate ownership, where historically the register captured only the legal holder of shares, not always the beneficial owner. By requiring a PSC register, more precise and up‑to‑date details are available about who ultimately owns and directs companies and other bodies, and this information is made public via the central register at Companies House and remains accessible to the public. It assists prospective investors in their decision‑making. It likewise aids law enforcement bodies with money laundering enquiries. LLPs formed under the Limited Liability Partnerships Act 2000 must keep a record of persons with...
Introduction This Practice Note sets out hands-on guidance on interim review investigations concerning countervailing measures. It outlines the key elements of such reviews. the legal footing for an interim review the application and commencement of an interim review the conduct of an interim review The World Trade Organisation’s ( WTO) Agreement on Subsidies and Countervailing Measures (the ‘ SCM Agreement’) allows for various reviews that may take place during the lifespan of countervailing measures. One such process is often called an interim review or a changed circumstances review. The aim of an interim review is to address situations where countervailing measures are no longer required, or where those measures need to be adjusted. This covers, first, circumstances where either no subsidy exists or injury is no longer present and, secondly, circumstances where the subsidy and the related injury have altered since the measures were first imposed. It...
The Practice Note addresses income tax and capital gains tax ( CGT) implications for individuals who, prior to 6 April 2025, were neither UK-resident nor UK-domiciled (that is, neither actually nor deemed domiciled). Where a person is not resident in the UK, the income tax and CGT rules described below will broadly apply regardless of domicile. For inheritance tax ( IHT), residence is generally not the key connecting factor; domicile is. Nevertheless, an individual’s residence status remains relevant when undertaking IHT planning, as potential income tax and CGT exposures must be considered. For a brief overview of UK tax matters for non-residents, see Practice Note: Introductory guide to UK tax for non-resident individuals. Abolition of non-dom regime and introduction of residence-based IHT regime Finance Act 2025 ( FA 2025), which obtained Royal Assent on 20 March 2025, introduced legislation abolishing the remittance basis of...
This Practice Note examines how to satisfy the minimum income threshold on the five-year settlement route where some or all income comes from approved non-employment sources. In keeping with other countable income streams, the guidance on the financial requirement, as well as the relevant immigration application forms, assign non-employment income to a lettered grouping— Category C. Although Appendix FM and Appendix FM- SE of the Immigration Rules do not explicitly name these groupings, the criteria that support the division into categories are set out within them. A concise summary of the categories appears in: Family immigration financial requirement—quick reference checklist. Whose non-employment income can be relied on?......
This Practice Note explains how to work out the amount of inheritance tax ( IHT) arising on an individual’s estate when they die. For a wider outline of the IHT charge at death, see Practice Note: IHT—the charge on death. For a step-by-step illustration of an IHT computation on death, see Practice Note: Case study— IHT calculation on death. IHT charge on death The IHT position on a person’s death is split into two elements: the ‘additional charge’—which may arise on chargeable lifetime transfers ( CLTs) and potentially exempt transfers ( PET) made by the deceased within seven years before death, and the ‘estate charge’—which is imposed on the value of all property the deceased owned (or was treated as owning) immediately before death Additional charge on death Further IHT can become due on the transferor’s death in respect of CLTs that have already borne IHT at the...
What is a hybrid pension scheme? Current pensions law largely divides UK occupational pension schemes into two categories, based on whether they qualify as money purchase schemes. In outline: a money purchase scheme is one where every benefit provided is a money purchase benefit (see Practice Note: Money purchase benefits—the statutory definition for the statutory meaning of “money purchase benefits”) Defined benefit schemes are, generally, not separately defined. There are limited exceptions for automatic enrolment under the Pensions Act 2008 ( Pen A 2008) and for the types of benefits payable as authorised payments under the Finance Act 2004 ( FA 2004), under which: a defined benefits ( DB) scheme is one where none of the benefits provided are money purchase benefits (note also the similar definition of a “defined benefits arrangement” in FA 2004, s 152(6)) For most purposes, these...
The UK’s rules on hybrid and other mismatches Since 1 January 2017, the UK’s hybrid and other mismatch rules (described in this Practice Note as the hybrid rules) have been in force, designed to neutralise tax mismatches arising from how a hybrid instrument or hybrid entity is treated for tax. Although the hybrid rules typically apply to cross-border dealings involving two or more jurisdictions, they can also apply to transactions that are entirely UK domestic. They specifically address: deduction/non-inclusion mismatches ( D/ NI mismatches), i.e. where a payment under a hybrid mismatch arrangement is deductible in the payer jurisdiction for tax purposes but is not included in the taxable income of a payee or a related party investor; and double deduction cases ( DD cases), i.e. where a payment under a hybrid mismatch arrangement gives rise to more than one tax...
ARCHIVED : This Practice Note has been archived and is not maintained. In October 2013, Jersey, Guernsey and the Isle of Man each entered into inter‑governmental agreements ( IGAs) with the UK to implement the automatic exchange of tax information. Owing to the way their disclosure provisions and timetable closely mirror the US Foreign Account Tax Compliance Act, these arrangements are often referred to as ‘ UK FATCA’. With effect from January 2015, the IGAs require financial institutions in the Isle of Man, Jersey and Guernsey to submit to HMRC automatic financial information returns covering UK‑resident individuals, partnerships and companies. Information relating to the 2014 and 2015 calendar years had to be provided by 30 September 2016, and thereafter reporting falls due within nine months of the end of the relevant calendar year each year. These IGAs are expected to be replaced by the Common...
CASE HUB ARCHIVED — this archived case hub records the position as at the decision dated 21 February 2025; it is no longer maintained. See the timeline and related cases Case facts Outline CMA Chapter I CA98 probe into whether five banks broke UK competition law by sharing sensitive information on UK government bonds in private one-to-one online chats. Latest development On 22 February 2025, the CMA issued five distinct infringement decisions after four companies settled with the authority and admitted involvement in anti-competitive behaviour. Another company obtained immunity for alerting the CMA to its part in the unlawful conduct. Fines totalling over £100m were imposed. The penalties per company were: Deutsche Bank — no fine (due to being granted immunity) Citi — £17,160,000 (including a 35% leniency reduction and a 20% settlement reduction) HSBC — £23,400,000 (including a 10% settlement...
STOP PRESS : Please note that the remittance basis of taxation will be abolished from 6 April 2025; see Practice Note: The abolition of the remittance basis of taxation from 2025–26. To promote lifetime philanthropic giving, the government enacted measures in the Finance Act 2012 ( FA 2012). Under these provisions, donors who gift pre-eminent property to appropriate institutions during their lifetime obtain a reduction in their UK tax liability. The relief is calculated as a percentage of the value of the donated object. For clarity, the scheme was initially termed ‘ Gifts of pre-eminent objects and works of art to the nation’, and Department for Culture, Media and Sport ( DCMS) guidance—both in December 2011 before FA 2012 came into force and in separate guidance when the scheme was ultimately launched—described it as the ‘ Cultural Gifts Scheme’. However, the Schedule in FA 2012 is titled ‘...
STOP PRESS: On 19 June 2025, the Data ( Use and Access) Bill secured Royal Assent, becoming the Data ( Use and Access) Act 2025 ( DUAA 2025), and coming partly into force that day. Provisions dealing with issues such as handling data subject access requests and granting powers to make supplementary regulations took effect immediately on 19 June 2025. Further measures, relating to notices issued by the Information Commissioner and certain elements of law enforcement processing, started on 19 August 2025 (two months after Royal Assent). Most other elements of DUAA 2025 will only commence once additional regulations, in the form of statutory instruments, are made. Such secondary legislation is required to bring the majority of the Act’s remaining provisions into operation. Parts 5 and 6 of DUAA 2025 introduce amendments to aspects of the UK’s data protection and e Privacy...
The Financial Conduct Authority ( FCA) sets out examples of effective practice for sanctions frameworks and controls in Part 7 of its FCG: A firm’s guide to countering financial crime risks, and in its Financial Crime Thematic Reviews ( FCTR) Part 8 on financial services firms’ approach to UK financial sanctions. This Practice Note draws on those sources. It also reflects guidance issued by the SRA for law firms on complying with the UK Sanctions Regime, together with insights from its anti-money laundering annual reports. Our Financial sanctions compliance—checklist highlights particular Precedents you can use or tailor to evidence sound practice in financial sanctions compliance. Governance and senior management responsibility Good practice A suitably senior individual oversees the firm’s compliance with the sanctions regime. Clear articulation of when customer screening occurs in different scenarios, eg when clients are transferred by agents or other...
The sanctions framework applies to every law firm. This Practice Note sets out what that entails for you. See also Practice Note: Sanctions—systems and controls—law firms, which offers practical guidance on building systems and controls to secure compliance with the financial sanctions regime. What are sanctions? Sanctions are international measures designed to: prompt a shift in the conduct of a specific country or regime place pressure on particular countries or regimes to meet defined objectives prevent and suppress the funding of terrorism They also function as an enforcement option of last resort where international peace and security have been threatened. Targets can include countries, regimes, organisations, individuals and entities. For a full explanation, see Practice Notes: Understanding the financial sanctions regime and Understanding the UK trade sanctions regime. The law The sanctions regime extends to all law firms—unlike the anti-money laundering,...
This Practice Note offers practical guidance on exporting goods from the UK to any destination outside the UK... Introduction This Practice Note sets out guidance on the permanent export of goods from: England, Wales or Scotland to any country beyond the UK, or Northern Ireland to any country outside the UK and the EU Obtain an EORI number When the UK was part of the EU, it followed the Union Customs Code. By virtue of the European Union ( Withdrawal) Act 2018, the UK continues to apply that Code and its regulations. The Code established a system under which traders interacting with customs and tax were assigned a unique identification number, enabling them to lodge declarations or apply for customs simplifications, approvals or decisions. From 11 pm on 31 December 2020, the UK uses the EORI number. EORI numbers have a ‘ GB’ prefix for...
ARCHIVED: This Practice Note has been archived and is no longer maintained. Introduction to the Energy White Paper On 14 December 2020, the Department for Business, Energy and Industrial Strategy ( BEIS) released the long-anticipated Energy White Paper. It builds on policy pledges in the Prime Minister’s ten-point plan for a Green Industrial Revolution (the ‘ten-point plan’) and the National Infrastructure Strategy, both issued in November 2020, and sets out how the UK plans to reach net zero by 2050. BEIS suggests the measures within could cut emissions across power, industry and buildings by up to 230 Mt CO2e to 2032 and sustain up to 220,000 jobs each year by 2030. For further details on the ten-point plan and the National Infrastructure Strategy, see: LNB News 18/11/2020 25 and News Analysis: The National Infrastructure...
A key issue when setting up an employee share scheme is deciding how the shares required to settle the pertinent options and awards will be sourced. This Practice Note outlines several considerations that are likely to shape the ultimate choice to be made in practice......
This Practice Note centres on when those holding voting rights in an issuer must notify in respect of shares admitted to trading on a UK regulated or prescribed market, namely when their stake reaches, crosses above, or drops below a threshold specified in DTR 5 of the Disclosure Guidance and Transparency Rules ( DTR). It likewise covers the parallel notification duties imposed on the issuers of those shares under DTR 5. A person may hold voting interests as a shareholder and/or via direct or indirect positions in specified financial instruments. For details of the notification obligations relating to transactions by a person discharging managerial responsibilities, see Practice Note: Continuing obligations—transactions by a person discharging managerial responsibilities ( UK Market Abuse Regulation and DTR 3). Summary DTR 5 prescribes how major voting rights arising from investors’ shareholdings must be disclosed. The regime originates from the EU...
This Practice Note This Practice Note is for private-sector commercial organisations in the UK and compiles direct marketing examples provided by the Information Commissioner’s Office ( ICO). These are sourced from the ICO’s: Direct marketing guidance Guidance on direct marketing using live calls Guidance on direct marketing using electronic mail Guidance on business-to-business marketing Guidance on Direct marketing and regulatory communications Guidance on Lawful basis— Consent Examples are grouped by theme—what counts as direct marketing, soft opt-in, refer-a-friend and consent—covering common scenarios. If your plans align with an example, you can quickly judge likely compliance with the UK General Data Protection Regulation ( UK GDPR), Assimilated Regulation ( EU) 2016/679 and the Privacy and Electronic Communications ( EC Directive) Regulations 2003 ( PECR 2003), SI 2003/2426. The UK GDPR is the main data protection law in the UK—see Practice Note: UK...
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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 ]...
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