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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 RTFO The RTFO is one of the government’s principal policies to cut greenhouse gas ( GHG) emissions from fuels delivered for use in: road vehicles non-road transport, covering: non-road mobile machinery ( NRMM) inland waterway vessels that do not normally operate at sea tractors recreational craft that do not normally operate at sea alternatively powered trains that do not already fall within the definition of NRMM (eg hydrogen fuel cell-powered trains) alternatively powered non-road vehicles that do not already fall within the definition of NRMM aircraft maritime, but only where the fuel used is a renewable fuel of...
The energy industry comprises a range of sub-sectors including coal, oil, gas, renewable energy, hydroelectric, tidal and nuclear This Practice Note provides a high-level overview of energy projects, with a principal emphasis on renewable initiatives such as wind farms, biomass and solar schemes. The government has pledged—and is legally bound by the Climate Change Act 2008 as amended by the Climate Change Act 2008 (2050 Target Amendment Order) 2019, SI 2019/1056—to reduce carbon emissions by at least 100% from 1990 levels, achieving net zero by 2050, and intends to meet this by expanding the generation and use of energy from renewable sources. Wales and Scotland also have national legislation setting their respective targets. For further information, see Practice Note: Climate change—emissions targets, carbon budgets and net zero. The Office for Renewable Energy Deployment ( ORED) is responsible for delivery of these goals, working in close...
ARCHIVED: This archived Practice note addresses mixed funds in the context of the remittance basis. It reviews: the statutory meaning of ‘mixed fund’ in section 809Q(6) of the Income Tax Act 2007 when a movement from a mixed fund is treated as a transfer the steps for determining the make-up of a remittance (arising under Conditions A and B) drawn from a mixed fund STOP PRESS: 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, introduces the abolition of the remittance basis of taxation and its replacement with a residence-based regime from 6 April 2025. FA 2025 also substitutes domicile as the key determinant of inheritance tax liability with residence. Additional reforms include revising the rules for excluded property status, removing protected settlements status for offshore trusts, and...
ARCHIVED: As an archived Practice note, this guidance explains how to identify when a remittance has arisen for the remittance basis of taxation. For this purpose, one must look to the Conditions in section 809L of the Income Tax Act 2007 ( ITA 2007). Section 809L of ITA 2007 sets out four condition limbs: Conditions A and B, which operate jointly, and Conditions C and D, each considered separately. This Practice note outlines Conditions A and B, illustrates types of remittances, and highlights exemptions or exceptions to how Conditions A and B apply... Abolition of remittance basis from 6 April 2025 The remittance basis of taxation was abolished for UK resident non-domiciled individuals from 6 April 2025. The last year for which the remittance basis can be claimed is the 2024–25 tax year. From 6 April 2025, a new four-year regime, commonly known as the foreign income and gain (...
ARCHIVED: This archived Practice note summarises the concept of the remittance basis and directs you to more in-depth material. It reviews who may claim the remittance basis, what constitutes a remittance, the handling of mixed funds, business investment relief ( BIR), and foreign currency accounts. STOP PRESS: 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, legislates to abolish the remittance basis of taxation and to introduce a residence-based system from 6 April 2025. FA 2025 also removes domicile as the primary determinant of liability to inheritance tax. Other changes include: Amendments to the rules defining excluded property status. The removal of protected settlements status for offshore trusts. Revisions to overseas workday relief. For further detail, see Practice Notes: The abolition of the remittance basis of taxation from 2025–26 and A new...
ARCHIVED: This archived Practice note outlines the remittance rules affecting UK‑resident non‑domiciled individuals (non‑doms). It sets out what does and does not amount to a remittance, the extension of the remittance basis of taxation to temporary non‑residents, who may use the remittance basis, how to claim it, and the potential drawbacks of doing so. It includes references to the Finance Act 2012. Abolition of the UK's existing tax regime for UK resident non- UK domiciled individuals The UK Chancellor, Rachel Reeves, confirmed on 29 July 2024 that, with effect from 6 April 2025, the government will proceed with abolishing the UK’s existing tax regime for UK‑resident non‑ UK domiciled individuals (non‑doms) and introducing the new four‑year FIG (foreign income and gains) exemption regime announced by the previous government at the Budget in March 2024—see: Spring Budget 2024— Private Client analysis—...
ARCHIVED: This Practice note, now archived, offers guidance on the remittance basis charge ( RBC). It sets out in detail what counts as a long-term resident before and after 6 April 2017, and looks at how the RBC is paid and reclaimed. It further covers nominating income and gains, the remittance of nominated income and gains, together with the applicable ordering rules. STOP PRESS: Abolition of non-dom regime and introduction of residence-based IHT regime Finance Act 2025 ( FA 2025), which secured Royal Assent on 20 March 2025, enacts legislation to abolish the remittance basis of taxation and introduces a residence-based regime beginning on 6 April 2025, with effect from that date. FA 2025 also makes residence the key determinant of liability to inheritance tax, displacing domicile as the primary factor. Further measures include amending the rules for excluded property status, removing protected...
Practice Note This Practice Note explores the tax position of UK real estate investment trusts ( REITs—and, in tax legislation, UK REITs) alongside their shareholders. The purpose of the UK REIT regime is to deliver a tax‑efficient structure that facilitates investment into the UK real estate sector by a broad spectrum of investors. A core feature of the regime is the shift of the tax point away from the investment entity, with the incidence of tax instead placed on its shareholders, so that liability arises at investor level rather than within the vehicle......
This Practice Note considers the circumstances in which a UK real estate investment trust ( REIT, described in the tax legislation as a UK REIT) holds property indirectly through a structure such as a partnership, offshore unit trust or company. It then turns to the scenario where a REIT participates in property via a joint venture company (or a group of companies). For an overall summary of the REIT regime, see Practice Note: REITs—summary of the tax regime. Other specific aspects of the regime are explored in greater depth in the following Practice Notes: REITs—the conditions and tests REITs—tax treatment of the REIT and its shareholders REITs—breaches and exit Indirect ownership of property REITs may hold non-direct interests in property via vehicles including partnerships, offshore unit trusts or companies. The tax analysis for a REIT of such indirect holdings hinges on the legal...
The UK regime for real estate investment trusts ( REITs, or UK REITs in tax legislation) requires companies or groups aiming to access the regime to satisfy a range of conditions. These criteria, along with certain additional tests, must be met continuously throughout every accounting period in which the company or group remains within the regime. This Practice Note outlines those conditions and tests. Breaches of the conditions and the tax implications of leaving the REIT regime are covered in Practice Note: REITs—breaches and exit. For an overview of the regime, see Practice Note: REITs—summary of the tax regime. For the tax position of the vehicle and its investors, refer to Practice Note: REITs—tax treatment of the REIT and its shareholders. Company REITs v group REITs A REIT may consist of a single company or a group of companies, and this Practice Note...
Practice Note: REITs—the conditions and tests To fall within the UK real estate investment trust ( REIT) tax regime, a company—or a group—must meet a range of requirements in each accounting period. These comprise: criteria concerning the REIT’s own status and behaviour (or, for a group REIT, those of the group’s principal company), and more granular rules about the REIT’s balance of business and various other matters These conditions are set out in detail in Practice Note: REITs—the conditions and tests. This Practice Note also explains what occurs when any of these requirements are not met. It further addresses: the tax implications of leaving the REIT regime, and the ways an exit can be carried out, including by giving notice For an overall overview of the UK REIT regime, see Practice Note: REITs—summary of the tax regime......
UK real estate investment trusts ( UK REITs) The UK regime for real estate investment trusts ( REITs, termed UK REITs in statute) took effect on 1 January 2007. There are now in excess of 150 REITs, several of which moved into the structure when the framework first commenced. Those early adopters have since been joined by many more participants owing to revisions to the entry criteria, in particular the following: the removal of the entry charge; permission for REITs to invest in other REITs; and a relaxation of the listing condition so that companies without a formal listing, but admitted to trading and actually traded on a recognised stock exchange (for example on markets such as AIM), can also qualify. Further amendments have been introduced to the REIT rules in recent years with the stated intention of making the regime more...
FSMA 2000 activities and investments Under section 19 of the Financial Services and Markets Act 2000 ( FSMA 2000), no one may conduct a regulated activity in the United Kingdom, or hold themselves out as doing so, unless they are authorised by the Prudential Regulation Authority ( PRA) and/or the Financial Conduct Authority ( FCA), or are an exempt person. This is referred to as the general prohibition. Under FSMA 2000, s 22, a regulated activity is a specified category of activity carried on by way of business in the UK that relates to a specified investment or, depending on the activity, ‘property of any kind’. Activities and investments are ‘specified’ where they are designated as such in the Financial Services and Markets Act 2000 ( Regulated Activities) Order 2001 ( SI 2001/544) (as amended) ( RAO). For further details on the general...
Regulated activities—general The Financial Services and Markets Act 2000 ( FSMA 2000) governs home finance transactions. Under FSMA 2000, s 19(1), a person may not undertake a regulated activity in the UK unless they are an authorised person or exempt. ‘ Person’ is interpreted widely to include any person, covering bodies corporate or unincorporate (that is, a natural person, a legal person and, for example, a partnership). For information on exemptions connected to the regulated activity of entering into regulated credit agreements as lender, see Exclusions— Exclusions of general applicability below. For further details on regulated activities, see Practice Note: What are regulated activities? In line with FSMA 2000, s 22, an activity is only a regulated activity if it is carried on ‘by way of business’. FCA guidance indicates that whether an activity is carried on by way of business depends on several...
Scope of this Practice Note A central bank digital currency ( CBDC) employs an electronic record or token to embody a digital form of a nation’s (or region’s) fiat money. It is a centralised instrument because the state’s competent monetary authority issues and regulates it. A CBDC would place electronic money, created by a country’s central bank, within reach of all households and businesses. As a result, everyone could make electronic payments using central bank money. This Practice Note concentrates on the efforts of UK authorities to develop a CBDC, which UK regulators describe as a ‘digital pound’. UK proposals for a digital pound UK regulators refer to a prospective domestic CBDC as the ‘digital pound’. Bank of England speeches and papers in relation to CBDCs The Bank of England ( Bo E) has been closely involved in debate and research on CBDCs. In a speech by Ben...
Introduction to the medicines advertising enforcement landscape Directive 2001/83/ EC, the Community code for medicinal products for human use (the Pharmaceutical Code), sets the standards for the advertising and promotion of medicinal products across the EU. It obliges Member States to ensure there are adequate and effective arrangements to supervise medicines advertising. These arrangements must include legal routes enabling persons or organisations considered to have a legitimate interest in stopping any advertisement that breaches the Pharmaceutical Code to: bring legal proceedings against the advertisement, or submit the advertisement to an administrative authority empowered either to determine complaints or to start appropriate legal proceedings In the UK, Part 14 of the Human Medicines Regulations 2012 ( HMR 2012), SI 2012/1916 implements the Pharmaceutical Code’s rules on the advertising of medicinal products. Notably, HMR 2012, Part 14, Chapter 3 sets out the...
Background to the regulation of sending dematerialised instructions Under the Uncertificated Securities Regulations 2001, SI 2001/3755 (the USRs 2001), a 'dematerialised instruction' refers to an order transmitted or received via a 'relevant system'—that is, a computer-based system, and its procedures, which allow title to units of a security to be evidenced and transferred without a written instrument, and which support supplementary and incidental matters. The sending of dematerialised instructions first became a regulated activity in 1996 under the Financial Services Act 1986 ( FSA 1986), following the launch of CREST on 15 July 1996, with the first settlement of transactions in uncertificated form occurring on 19 August 1996. CREST’s launch arrived only three years after the Bank of England ( Bo E) created the Task Force on Securities Settlement to determine which securities settlement system should be adopted after the failure of the London Stock...
Immigration advisers and service providers in the UK are subject to regulation. Generally speaking, immigration advisers without legal qualifications must be registered and follow the standards set by the Immigration Advice Authority ( IAA). Before a name change on 16 January 2025, the IAA was known as the Office of the Immigration Services Commissioner ( OISC). Those advising within an organisation properly overseen by a designated professional body, or a designated qualifying regulator (see below), do not presently have to register with the IAA. Registration requirements were brought in amid worries about the standard of immigration advice in the UK. Where an adviser fails to act in a client’s best interests, the impact on that client can be very severe. In R ( Nori) v Secretary of State for the Home Department ( SSHD) the court decided that the applicant could not be excused simply...
Scope of this Practice Note This Practice Note sets out the regulated activities of setting up, running or winding up a stakeholder pension scheme or a personal pension scheme under the Financial Services and Markets Act 2000 ( Regulated Activities) Order 2001, SI 2001/544, art 52 ( RAO), and includes links to other material explaining how funds are regulated. The regulated activities are the establishment, operation or winding up of: a stakeholder pension scheme; or a personal pension scheme. Coverage of stakeholder pension schemes formed part of the RAO from commencement. By contrast, the regulated activity in respect of personal pension schemes was not introduced until 6 April 2007, following implementation of the Financial Services and Markets Act 2000 ( Regulated Activities) ( Amendment) Order 2006, SI 2006/1969. That amending order inserted into the RAO the specified activity of...
Background to the regulated activities of effecting and carrying out contracts of insurance The regulation of conducting insurance business in the UK can be traced to 1870, with the passing of the Life Assurance Companies Act 1870, which required any firm engaged in life assurance to lodge a deposit with the court as a form of security. Successive Acts then introduced a range of enhancements and refinements to that framework. The original UK regulatory framework was made largely obsolete by the arrival of various EU measures from the early 1970s; a directive dealing with life assurance followed thereafter within that legislative programme......
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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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