The Tenant Fees Act 2019 (TFA 2019) came into force on 1 June 2019 and prevents the charging of fees by landlords or agents to tenants, other than specific permitted fees. It applies to England only. The fees permitted include rent, a holding deposit of up to one week’s rent, a limited tenancy deposit, and contractual changes capped at £50. A breach of the provisions of TFA 2019 has the effect that any term that amounts to a breach is not binding and the local enforcement authority is able to impose a financial penalty on a person in breach, in a sum of up to £5,000 as well as enabling the recovery of amounts paid in breach of TFA 2019 and interest. It is a criminal offence under TFA 2019, s 12 for a person to have breached the fees provisions,

STOP PRESS: From 6 April 2017, the Insolvency Rules 1986, SI 1986/1925 were revoked and replaced by the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024. The content in this Q&A may have been affected by this change. This Q&A covers the Third Parties (Rights Against Insurers) Act 1930 (TP(RAI)A 1930) (the 1930 Act) and not the Third Parties (Rights Against Insurers) Act 2010 (the 2010 Act) (which is expected to come into force later this year). The section 1(b) of the 1930 Act provides that the trigger for the act applying is 'in the case of the insured being a company, in the event of a winding-up order [. . .] being made, or a resolution for a voluntary winding-up being passed, with respect to the company, [or of the company entering administration,] or of a receiver or

Provided that the overseas company is ‘linked’ to the UK sponsor and certain conditions (listed below) are met, the Tier 2 (ICT) route generally permits a UK sponsor to second an employee from an overseas group company. For further information on the ways in which the ‘entities’ must be linked, see Practice Note: Applying for a Workers and Temporary Workers sponsor licence: showing common ownership and control for Global Business Mobility routes applications. See also paragraph 4.2 of the Tiers 2 and 5: guidance for sponsors (version 02/20). The Immigration Rules relating to Tier 2 (ICT) are set out in the Immigration Rules, Part 6A, paras 245G to 245GF-SD. There are two sub-categories set out at para 245G. These are: • Long-Term staff: for established employees of multi-national companies who are being transferred to a skilled job in the UK which could not be carried out by a new recruit from the resident

A statutory tower crane registration scheme was introduced in April 2010 by the Notification of Conventional Tower Crane Regulations 2010 and imposed a duty on the employer to notify the HSE of the use of conventional tower cranes (not self-erecting tower cranes) on construction sites. The aim of the register was, following several fatal accidents, to

The Transfer of Undertakings (Protection of Employment) Regulations 2006 (TUPE 2006), SI 2006/246 apply to: • business transfers—involving the transfer of an undertaking or business, or part of an undertaking or business situated immediately before the transfer in the United Kingdom (UK) to another person where there is a transfer of an economic entity that retains its identity following the transfer • service provision changes—involving a change in the provider of a service (outsourcing,

Transfer pricing rules in the UK and elsewhere require that transactions between connected parties are recognised for tax purposes by applying the amount of profit that would have arisen if the same transaction had been carried out by unconnected parties. This is referred to as the 'arm's length principle'. The arm's length principle is endorsed by the Organisation for Economic Co-operation and Development (OECD) and enshrined in the Associated Enterprises Article (Article 9) of the OECD Model Tax Convention. See also HMRC Guidance: INTM421010. Most countries (other than the US and some developing countries who take a different approach) enforce transfer pricing laws and guidelines based on the arm's length principle as defined in the OECD's Transfer Pricing Guidelines (the TP Guidelines). The UK transfer pricing legislation is set out in Part 4 of Taxation (International and Other Provisions) Act 2010 (TIOPA

What are GDRs? Global depositary receipts (GDRs) are negotiable certificates issued by depositary banks which represent ownership of a company’s shares and can be listed and traded separately from the underlying shares. A GDR can be listed on either the Main Market via a standard listing or on the LSE's professional securities market (PSM). For further details, see Practice Notes: Listing global depositary receipts (GDRs) and Global Depositary Receipts—key terms and parties [Archived]. Which companies are subject to the Code? Whether the Takeover Code (Code) applies to a particular transaction will depend on the nature of the target company and the type of transaction involving the target

This Q&A focuses on the position of an application programming interface (API)/website owner wishing to include a provision in its terms and conditions to the effect that unilateral changes to its terms and conditions are permitted on the provision of notice. Does UCTA 1977 apply to B2B contracts? The Unfair Contract Terms Act 1977 (UCTA 1977) applies exclusively to business-to-business (B2B) contracts. Before the Consumer Rights Act 2015 came into force, the provisions of UCTA 1977 generally applied to both consumer and B2B contracts but, from 1 October 2015, the application of UCTA 1977 to consumers was excluded. General contract variation principles The general principle is that a variation of a contract (whether the contract is made by way of terms and conditions or otherwise) requires the consent of both parties and is invalid if there is no consideration (see: Varying a contract—overview and Practice Note: When is variation of a contract

In this Q&A, we have assumed that the assets would qualify for business property relief (BPR) at 100% (sections 104–105 of the Inheritance Tax Act 1984 (IHTA 1984)). See Practice Note: IHT—business property relief. Nil rate band gifts These are gifts intended to use up some or all of the testator's nil rate band (NRB) on a non-exempt gift in a Will which is otherwise in favour of the testator's spouse or civil partner. Such gifts of a value determined by a formula to the effect that it is the maximum which can be the subject of a non-exempt gift without any inheritance tax (IHT) being payable and made into a discretionary trust from which the surviving spouse might benefit had, until the Pre-Budget Report of 9 October 2007, become a standard part of tax planning in Wills for spouses or civil partners. This was so as to avoid wastage of

Beneficiaries of a discretionary trust have no entitlement to income, and only receive income at the discretion of the trustees (section 493 of the Income Tax Act 2007 (ITA 2007)). Any income distributed to a beneficiary is deemed to have been paid net of a 45% tax credit. This 45% rate applies irrespective of the income actually received by the trustees. For example, if the trustees' only source of income is UK dividends on which tax is paid at 38.1%, then if that income is subsequently distributed to a beneficiary, it will always carry a 45% tax credit (ITA 2007, s 494). If a discretionary trust makes a distribution to a beneficiary, the distribution and the tax deducted from it is certified on Form R185 (ITA 2007, s 495). Therefore, when a beneficiary receives a distribution of income from a discretionary trust, it is simply certified as ‘trust income’ on Form R185 and

Application of CPR 15 and CPR PD 7B CPR 15 deals with the timings for the filing of the defence. CPR 15.1 excludes the application of CPR 15 to the procedure set out in CPR 8 (alternative procedure for claims) but does not exclude its operation for other parts of the CPR. The application of CPR 15 to the Consumer Credit Act procedure under CPR PD 7B is also not specifically excluded by CPR PD 7B (in contrast to CPR PD

The section 84 and Schedule 4 of the Small Business, Enterprise and Employment Act 2015 (SBEEA 2015) specifically abolish the issue of bearer shares, or ‘share warrants to bearer’. Other forms of equity share warrants are not prohibited by the SBEEA 2015. Bearer shares Bearer shares are issued shares owned by whoever physically holds the title document, which is usually called a share warrant. The issue of bearer shares is governed by sections 779–781 of the Companies Act 2006 (CA 2006). Ownership of bearer shares is transferred by physically handing the relevant warrant certificate from one person to another and there is no record, either in the company’s registers or anywhere