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Under section 40B of the Landlord and Tenant Act 1954 (LTA 1954) Where a person is served with a notice under LTA 1954, s 40 and does not meet the obligation to supply the information requested and required, section 40B of the Landlord and Tenant Act 1954 allows them to be the subject of civil proceedings for breach of statutory duty; in those proceedings the court may require that individual to duly perform the duty and can also grant damages as well. See also: Duties of tenants and landlords to give information to each other; in general: Halsbury's Laws of England [1595]. A breach of statutory duty is a standalone tort recognised at common law, in respect of which the...
Under regulation 2 of the Assured Shorthold Tenancy Notices and Prescribed Requirements (England) Regulations 2015 (SI 2015/1646), the prescribed obligations apply to tenancies granted on or after 1 October 2015, but exclude statutory periodic tenancies beginning on or after 1 October 2015 where they followed an AST granted before that date. Consequently, if the original fixed-term tenancy was granted on or after 1 October 2015, the prescribed requirements apply to both the fixed term and also to the statutory periodic tenancy thereafter arising on expiry of that term...
A buyer for value of land burdened by a legal or equitable rentcharge in favour of a charity will take subject to that rentcharge, unless: the rentcharge is registrable as a land charge and is void against him for want of registration (see sections 2 and 4 of the Land Charges Act 1972; section 24 of the Law of Property Act 1969; section 2(1)(i) of the Law of Property Act 1925 (LPA 1925)); the sale is made in exercise of powers under the Settled Land Act 1925 (SLA 1925) and the rentcharge is capable of being overreached on such a sale (see SLA 1925, s 72; LPA 1925, s 2(1)(i)); or for an equitable rentcharge, the purchaser had no notice of it (Re Alms Corn Charity, Charity Comrs v Bode). Also note that, depending on the date of the rentcharge, the Rentcharges Act 1977 provides that, since 22
Section 213 of the Housing Act 2004 (HA 2004) sets out the obligations on landlords who take a deposit in relation to an assured shorthold tenancy. Every deposit must be handled in line with an authorised scheme (HA 2004, s 213(1)), and the scheme’s initial requirements must be met within a period of 30 days from receipt of the deposit (HA 2004, s 213(3))...
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Net settling a share award Net settling a share award is employed to cut down the quantity of shares a company is required to issue in order to discharge the award. Awards can, in principle, be net settled against both any exercise price due and any tax or National Insurance contributions ( NICs) that arise. Key benefits of net settlement include reduced dilution for existing shareholders and the possibility for a company to stretch its headroom under any relevant dilution limits, thereby enabling those limits to accommodate more awards. Net settlement for tax and NICs means the company issues to the award holder a number of shares whose value equals the post‑tax amount they would have retained had they taken the full, gross allocation and sold sufficient shares on‑market to meet the pay as you earn ( PAYE) and NICs...
The appropriate section of the HMRC annual return to complete hinges on whether the relevant share appreciation right ( SAR) or restricted stock unit ( RSU) constitutes a securities option for the purposes of s 420(8) of the Income Tax ( Earnings and Pensions) Act 2003. In both scenarios, the award counts as a securities option if it grants a legal entitlement to obtain shares, and this, in turn, is determined in practice by the precise terms of the award concerning the method by which settlement may actually occur......
This Q& A proceeds on the basis that intended lowering of the hurdle attached to the growth shares is not one element of a pre‑arranged sequence of steps or a tax avoidance arrangement (for instance, where the plan from the outset was to grant the shares with a high hurdle and later reduce that hurdle to confer a benefit on employees). In that scenario, HMRC might effectively contend that the employment‑related securities rules are not engaged, and that employees are instead taxable to general earnings, by reference to the cases of PA Holdings Ltd v Revenue and Customs Commissioners and UBS AG v Revenue and Customs Commissioners......
In summary In summary, a business can design its share plan to grant employees who resign voluntarily an equity bonus equivalent to that given to retirees. That said, the tax outcome may differ: according to the form of employee share plan selected and operated, awards might be unable to obtain the same tax-advantaged treatment. Both tax-advantaged and non-tax-advantaged share plans exist in such schemes......
Under the enterprise management incentives ( EMI) legislation There is no requirement to register an EMI scheme with HMRC until the point at which the first EMI option(s) are granted under the arrangement (see paragraph 44 of Schedule 5, Part 7 of the Income Tax ( Earnings and Pensions) Act 2003, and HMRC guidance at ETASSUM56010). That said, in practical terms, an EMI scheme can be regarded as ‘existing’ from the moment it has been duly adopted by the company in accordance with its constitution—regardless of whether any options have then been granted under it at all......
The general definition of ‘director’ is not exhaustive. Under the Companies Act 2006 ( CA 2006), the term ‘director’ covers any person who holds the office of director, whatever title they go by. As a result, it spans both executive directors and non-executive directors ( NEDs)......
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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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