Depreciation definition

View the related checklists about Depreciation

Questions relevant for an asset sale—tax issues—checklist

Questions relevant for an asset sale—tax issues—checklist This Checklist sets out a list of questions that may be relevant to determining the tax implications of an asset sale. This Checklist should be used in conjunction with Practice Note: Key tax considerations in an asset sale. For more information on pre-contract enquiries, see also Practice Notes: Capital allowances on property sales—pre-contract enquiries and Commercial Property Standard Enquiries—CPSE (the CPSEs, prepared by members of the London Property Support Lawyers Group and endorsed by the British Property Federation, provide standard questions relevant to a sale of commercial real estate). Key tax considerations in an asset sale Questions Answers obtained by the adviser General questions Are the parties companies, individuals or other types of entities, such as a partnership, trust or charity? Are there multiple sellers? Are there multiple buyers? Does the seller own legal and beneficial title to the assets? Will the buyer acquire both the legal and beneficial title to the assets at actual completion? ...

View the related practice notes about Depreciation

Why do companies use share schemes?

Why do companies use share schemes? Why not just reward staff with cash? It is often a simpler, less burdensome way to reward and incentivise employees. This Practice Note analyses the advantages and disadvantages of shares schemes as a general concept. For further details on the advantages and disadvantages of each individual type of scheme, see Practice Note: The advantages and disadvantages of each share incentive arrangement. This Practice Note details: • why do companies implement share schemes? • what are the types of share schemes? • the advantages of share schemes (from a company and employee perspective) • the disadvantages of share schemes (from a company and employee perspective), and • use of share schemes Why do companies implement share schemes for their employees? There are numerous reasons why companies choose to implement employee share schemes and many of these depend on the size of the company and its specific objectives. Some common reasons for companies utilising share schemes include, but are not limited to: • recruiting,...

Administration of trusts—trustee investment in commercial property

Administration of trusts—trustee investment in commercial property Commercial property Commercial property is intended to produce a financial return for its owner by being used or occupied by businesses. That return can be in the form of rent paid to the owner by a tenant(s) or from a change in the capital value of the property, realised when the property is sold. There are a number of differences between investing in residential property and commercial property, eg: • Costs—the cost of large, high-quality commercial property tends to be much greater than residential property • Valuation—the uniqueness of many commercial properties makes it difficult to get an accurate valuation without access to professional advice, whereas it is fairly easy to compare house prices • Commercial leases—these tend to last much longer than residential leases, traditionally contain clauses that are upward only (ie the rent cannot be less after a review than it was before one) and place responsibility on tenants for repairs and maintenance The decision to invest in commercial...

View the related precedents about Depreciation

Trust for a disabled person—discretionary

Trust for a disabled person—discretionary This TRUST is made on [date] Parties 1 [settlor] of [address] (the Settlor) and 2 [original trustees] of [addresses] (the Original Trustees) Background (A) The settlor wishes to make this Trust and has transferred to the Original Trustees the assets described in Schedule 1 to be held on the following trusts. (B) The Principal Beneficiary is a disabled person within the meaning of that term in the Finance Act 2005, Schedule 1A. This Deed PROVIDES: 1 Definitions and interpretation In this Trust: 1.1 Discretionary Beneficiaries • means (a) any spouse or [widower OR widow] whether or not remarried of the Principal Beneficiary; (b) the descendants of the Principal Beneficiary; (c) the spouses, widows or widowers (whether or not remarried) of the descendants of the Principal Beneficiary; 1.2 Principal Beneficiary • means [disabled person]; 1.3 spouse • shall include a civil partner registered under the Civil Partnership Act 2004 and a spouse of the same sex, and a person is a...

Will—unmarried, divorced, separated with children, no partner

Will—unmarried, divorced, separated with children, no partner FORTHCOMING CHANGE: Potential changes to Wills Act 1837 The Law Commission review of Wills has issued a final report on 16 May 2025 which includes in volume II a draft bill to replace the Wills Act 1837. For information on these changes, including draft legislation published, see Practice Note: Hot topic—modernising Wills and Modernising wills: Final Report Volume II: draft Bill for a new Wills Act. STOP PRESS: Abolition of non-dom regime and introduction of residence-based IHT regime. Finance Act 2025 (FA 2025) which received Royal Assent on 20 March 2025, implements legislation to abolish the remittance basis of taxation and replace it with a residence-based regime, commencing on 6 April 2025. FA 2025 also replaces domicile as the key factor in establishing liability to inheritance tax. Other changes include amendment of the rules determining excluded property status, the abolition of protected settlements status of offshore trusts, and changes to overseas workday relief. For information on these changes, see Practice Notes:...

View the related News about Depreciation

A view on the impact of the sanctions against Russia on international arbitration

Arbitration analysis: The myriad of recent sanctions against Russia has brought the impact of such sanctions on international arbitration even further into the spotlight. Roman Zykov, partner at Mansors in Moscow, provides his views on some of the implications and key issues to be considered by practitioners and their clients.

Private Client weekly highlights—21 June 2018

This week’s edition of Private Client highlights includes the SRA’s new requirement for firms to publish prices for probate work, the OTS reports on the taxation of savings income and simplifying the tax relief for fixed assets, analysis on the cases of Payne v Payne and Gee v Gee, and the Jersey Court decision in Sinels v Hennessy on a lawyer’s standing to sue for breach of confidence.