Gain clarity on set-off and netting with our specialised guidance tailored for legal professionals working in the banking and finance sector. This topic offers clear, practical insights into mitigating risks and optimising financial positions through effective set-off and netting strategies. Stay informed on the latest legal frameworks, case law, and best practices to ensure robust financial management and compliance.
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What is set-off and when is it available?Set-off is a complex yet important concept in legal proceedings generally and for many different types of transaction.Independent set-off and transaction set-off can both be used as a defence in legal proceedings. For more information, see Practice Notes:
What is the difference between an appeal and a review?What is an appeal?An appeal in insolvency proceedings is no different to an appeal in normal litigation. An appeal will be allowed only if the appeal court is satisfied that the decision of the lower court was 'wrong' or 'unjust because of a
Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on overdue tax, see Practice Notes: IHT—payment deadlines on death—Interest on IHT and Interest on late paid
If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal fees, will that count as a PET against their estate?A disclaimer is the refusal of a gift prior to acceptance. The refusal of the gift must take place before the beneficiary accepts any benefit
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