Enterprise Definition

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Establishing a share incentive plan (SIP) and granting SIP awards—all-encompassing resource pack

Establishing a share incentive plan (SIP) and granting SIP awards—all-encompassing resource pack For more general information on share incentive plans (SIPs), see Practice Note: What is a share incentive plan? Step Details of step Lexis®PSL resources required to implement step Timing of step 1 Determine whether the company qualifies to operate a SIP. The SIP regime is prescriptive and sets out numerous requirements that must be met at the time the awards are granted, including in relation to the company granting the awards. It is essential to establish whether the company whose shares are being granted under award qualifies to operate a SIP first. The proposed award holder(s) must also meet certain requirements in order to be granted SIP awards. For further detailed information on the SIP eligibility requirements relating to the company, see Practice Note: SIPs—qualifying companies and type of shares. For further detailed information on the SIP eligibility requirements relating to the employee, see Practice Note: SIPs—who can be granted an award? For a checklist...

Time limits for filing returns and paying tax—table

Time limits for filing returns and paying tax—table FORTHCOMING CHANGE related to Making Tax Digital: As part of the government’s wider Making Tax Digital (MTD) programme: • subject to limited exceptions and deferrals, sole traders and landlords will be required to submit quarterly digital updates to HMRC about their income and outgoings and returns in digital compatible formats with effect from April 2026, April 2027 or April 2028 for those with income in excess of £50,000, £30,000 or £20,000 respectively, and • the previous government consulted from 12 November 2020 to 5 March 2021 on the design for extending MTD to corporation tax on a voluntary basis from 2024 and a mandatory basis not before 2026, for more detail see News Analysis: Further provisions for draft Finance Bill 2021—Tax analysis—Business and enterprise The 2020 10 year roadmap for digitalising tax administration is explained in more detail in News Analysis: Making tax digital—getting on the virtual road. MTD for VAT has applied to all VAT-registered businesses, regardless of...

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UK trade mark infringement action—flowchart

UK trade mark infringement action—flowchart Stage 1—preparing to bring a claim and pre-action matters Claim preparation and pre-action matters—Practice Notes • Trade mark infringement—UK • Trade mark offences • Trade mark and passing off disputes—a practical guide • Trade mark infringement and interim injunctions • How to run an IP dispute • Privilege and intellectual property • Types of dispute resolution • IP and mediation • IP and arbitration • UK Intellectual Property Office—mediation scheme • Disclosure scheme—when and where it applies Claim preparation and pre-action matters—Checklist • Disclosure Scheme timetable—checklist Claim preparation and pre-action matters—Forms • Application for injunction • Application notice • Notice of hearing of application Stage 2—Letter before action alleging infringement Letter before action—Practice Notes • Trade mark infringement—UK • Trade mark and passing off disputes—a practical guide • Unjustified threats of intellectual property right infringement • How to draft a letter of claim in an IP dispute Letter alleging trade mark infringement—Precedent • Letter of claim—trade mark infringement Stage 3—commencing proceedings Commencing...

Copyright infringement action—flowchart

Copyright infringement action—flowchart Stage 1—preparing to bring a claim and pre-action matters Claim preparation and pre-action matters—Practice Notes • Copyright―protectable works • Copyright—subsistence and qualification • Copyright—authorship and ownership • Copyright infringement • Interim and final injunctions—overview • Copyright—permitted acts and defences • Copyright—secondary infringement • How to run an IP dispute • Disclosure scheme—overview • Types of dispute resolution • IP and mediation • IP and arbitration • UK Intellectual Property Office—mediation scheme Claim preparation and pre-action matters—Precedents • Cease and desist letter—IP infringement Claim preparation and pre-action matters—Checklist • Disclosure Scheme timetable—checklist Claim preparation and pre-action matters—Forms • Application for injunction • Application notice • Notice of hearing of application Claim preparation and pre-action matters—News Analysis • The use of intellectual property insurance Stage 2—letter of claim alleging copyright infringement Letter alleging copyright infringement—Practice Notes • Copyright infringement • How to draft a letter of claim in an IP dispute • Unjustified threats of intellectual property right infringement • Civil and criminal remedies for intellectual property...

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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,...

The European Social Entrepreneurship Funds (EuSEF) Regulation

The European Social Entrepreneurship Funds (EuSEF) Regulation The EuSEF regulatory framework This Practice Note provides an overview of the European Social Entrepreneurship Funds Regulation (EU) 346/2013 (the EuSEF Regulation) as amended by Regulation (EU) 2017/1991, Regulation (EU) 2019/1156 and Regulation (EU) 2023/2869. The EuSEF Regulation is a specialist alternative investment fund (AIF) regime available to alternative investment fund managers (AIFMs) under the Alternative Investment Fund Managers Directive (2011/61/EU) (AIFMD). AIFMs managing qualifying social entrepreneurship funds can elect to use the ‘EuSEF’ designation for these funds to market them to professional, and certain high net-worth, investors throughout the EU under the EuSEF marketing passport. The EuSEF Regulation was introduced alongside Regulation (EU) 345/2013 on European venture capital funds (EuVECA Regulation). The EuVECA Regulation, as amended, is beyond the scope of this Practice Note, but is covered in Practice Note: European Venture Capital Funds (EuVECA) Regulation. On 1 March 2018, Regulation (EU) 2017/1991 amending the EuVECA Regulation and the EuSEF Regulation (the Amending Regulation) took effect. The changes set out in the...

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EMI Agreement

EMI Agreement This Agreement is made on [insert date of execution of the share option agreement] Parties 1 [insert name of Company whose shares are being granted under option] (registered number [insert registered number of company]) whose registered office is at [insert address of registered office of company](Company) 2 [insert name of Option Holder] of [insert address of option holder] (Option Holder) 3 [[insert name of Grantor (if different from Company) (registered number [insert registered number of company]) whose registered office is at [insert address of registered office of company]] (Grantor)] BACKGROUND (A) [The Company has agreed to grant to the Option Holder an Option to acquire Shares on the terms set out in this Agreement and in accordance with the rules of the [insert name of EMI option plan] (Rules). OR The Company and the Grantor intend that the Option Holder be granted an Option to acquire Shares on the terms set out in this Agreement and in accordance with the rules of the...

Claim against an employer on behalf of an employee who was attacked at work by a patient

Claim against an employer on behalf of an employee who was attacked at work by a patient IN THE COUNTY COURT AT [INSERT][OR] IN THE HIGH COURT CLAIM NO: Between [XX] Claimant and [YY] Defendant _____________________________________________________ PARTICULARS OF CLAIM ______________________________________________________ 1 At all material times the Claimant was employed by the Defendant as Healthcare Assistant. 2 On or about [insert date] the Claimant was working at the [insert details] Ward at the Defendant’s hospital which catered for service users with mental health issues. 3 The Claimant commenced his shift at [insert time] and was allocated to work for a particular service user (“[ZZ]”) providing constant observation. 4 During the course of his shift the Claimant asked [ZZ] if he wished to have something to eat or drink whereupon [ZZ] punched the Claimant in the face. As a result of the said attack the Claimant suffered personal injury, loss and damage. 5 The Claimant’s injury loss and damage were caused or contributed to by the negligence of the...

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Does an individual qualify as a person with significant control (PSC) under the first two ownership or control conditions with exactly 25% of the shares or voting rights?

Does an individual qualify as a person with significant control (PSC) under the first two ownership or control conditions with exactly 25% of the shares or voting rights? Schedule 1A to the Companies Act 2006 (as inserted by the Small Business, Enterprise and Employment Act 2015) is specific in its wording as regards the first and second conditions relating to significant control, namely share ownership and voting rights. The wording is that the person holds ‘more than 25% of the shares/voting rights…’ This would therefore indicate that a person with exactly 25% or less is not a person with significant control. This view is further supported by the official wording that must be inserted into a PSC register such as,

Can a community interest company (CIC) have a standard limited company as a wholly-owned subsidiary? Will the subsidiary be subject to any of the restrictions that a CIC needs to comply with in order to retain its CIC status?

Can a community interest company (CIC) have a standard limited company as a wholly-owned subsidiary? Will the subsidiary be subject to any of the restrictions that a CIC needs to comply with in order to retain its CIC status? The community interest company (CIC) is a limited company which operates in order to use its profit and income for the benefit of the community it serves. The fact that it operates for this particular purpose makes such a company subject to additional restrictions which apply specifically to CICs: the ‘community interest test’ and the asset lock. The community interest test requires CICs to conduct their business in such a way that a reasonable person might consider that its activities are carried out for the benefit of its community. The ‘asset lock’ prevents CICs from transferring assets at less than market value unless the transfer falls within a category of permitted transfers, such as to another asset-locked body. If the constitution allows a CIC to pay dividends, these...

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Employment weekly highlights—29 May 2025

This edition of Employment weekly highlights includes: (1) publication by the Business and Trade Committee of the government response to the BTC’s third report on the Employment Rights Bill, (2) a Scottish Employment Tribunal decision finding that exam invigilators for the Scottish Qualifications Authority (SQA) have worker status, (3) the European Council’s adoption of its position on a proposed EU Regulation to establish a single digital declaration portal for posted workers, (4) HMRC company cars advisory fuel rates taking effect from 1 June 2025, (5) the Industrial Relations Law Reports (IRLR) June 2025, (6) dates for your diary, and (7) other news items of interest to employment practitioners.

Competition weekly highlights—29 May 2025

This week's edition of Competition weekly highlights includes, from a UK perspective: (1) the CMA’s decision to accept Vifor’s commitments to end an abuse probe into disparaging treatment in the iron treatment market, (2) the Court Appeal judgment dismissing appeal against the CAT’s judgment on limitation in claim for damages against participants in citalophram ‘pay for delay’ cartel, and (3) the CAT’s rulings on jurisdiction and collateral waive application in abuse of dominance claim against Microsoft. This week’s highlights also includes, from an EU perspective: (1) an AG’s opinion concerning a national reference from Romania on retroactive application of an EU Regulation corrected in a State aid dispute.