A particular type of non-interest in possession trust, intended to make provision for children and young adults up to the age of 25, and which enjoyed privileged inheritance tax treatment between 1975 and 2006.

ARCHIVED: This Practice Note has been archived and is not maintained. An accumulation and maintenance (A&M) settlement was a particular type of non-interest in possession (IIP) settlement, intended to make provision for children and young adults up to the age of 25. A&M settlements enjoyed privileged inheritance tax (IHT) treatment between 1975 and 2006. This privileged treatment was stopped as part of the widespread changes to the taxation of trusts introduced by Finance Act 2006 (FA 2006) (see Practice Note: Finance Act 2006 changes to trust taxation [Archived]). At the same time, transitional provisions were introduced for pre-22 March 2006 A&M settlements, which allowed for a certain amount of restructuring prior to 6 April 2008. This Practice Note looks at the taxation of A&M trusts, both historically and under the post-22 March 2006 rules. Although new A&M settlements cannot be created, practitioners need to be aware of the rules because they will still deal with trusts which were created before 2006. Typically, an A&M trust had several beneficiaries of different ages. The

The period of time during which the trustees can accumulate trust income by adding it to the trust capital instead of paying it out to the beneficiaries. The rule against excessive accumulations dictated that trustees could not accumulate income beyond one of six permitted accumulation periods. This is now abolished as a result of the Perpetuities and Accumulations Act 2009 (PAA 2009) in relation to trusts which are created on or after 6 April 2010, except for charitable trusts. As regards private trusts it is permissible for settlors to choose to impose their own restrictions should they so wish.

The normal units bought as part of a unit-linked policy.

Duty to achieve best consideration on disposal of land held by principal councils General duty Under section 123(1) of the Local Government Act 1972 (LGA 1972), principal councils are entitled to dispose of land held by them 'in any manner they wish'. This includes selling freehold interests, granting or assigning leases, and granting easements. Principal councils are defined in England as councils elected for a non-metropolitan county, a district or a London borough, and in Wales as a county or county borough (referred to in this note as local authorities (LAs)). However, this general power is limited by the duty in LGA 1972, s 123(2) to achieve the best consideration that can reasonably be obtained when disposing of land, unless consent has been obtained from the Secretary of State for Communities and Local Government/Ministers. A disposal by way of a short tenancy (defined as the grant of a term not exceeding seven years or the assignment of a term which has at the date of the assignment not more than seven years left

Why is greater transparency required? Over time, the Kay Review, the FCA and the House of Commons' Work and Pensions Committee drew the following conclusions in relation to the disclosure of member-borne costs and charges: • the disclosure of costs to retail customers was not comprehensive. In particular, the Kay Review concluded that costs associated with implementing exit, (eg performance fees and costs of portfolio turnover) were not disclosed to pension funds even though they were charged to the funds • disclosure was inconsistent. In its 2014 Thematic Review TR14/7, the FCA found that while some investment firms provided their customers with consistent, combined charge figures across all relevant documents and platforms, there were still examples of investment firms referring to different charge figures across multiple documents, making effective comparisons difficult. Moreover, the opacity of these costs meant that fund managers could pass on costs to customer funds with minimal scrutiny, thus creating a significant conflict of interest • there had been a history of persistent regulatory failure in monitoring costs and charges

To [Insert name of building owner] (‘Building Owner’) Of [insert Building Owner’s main address] The Party Wall etc Act 1996 Acknowledgement of Notice As adjoining owner under The Party Wall etc Act 1996 (‘the Act’) of [insert address of adjoining owner’s building] and having received

To [insert name of building owner] (‘Building Owner’) Of [insert Building Owner’s main address] The Party Wall etc Act 1996 Acknowledgement of Notice As adjoining owner[s] under The Party Wall etc Act 1996 (‘the Act’) of [insert address of adjoining owner’s building]

A court form to be completed by the Respondent to a petition for divorce or dissolution confirming receipt of the petition and specifying whether or not he intends to defend the proceedings.

acknowledgEment From: [name of (first) user of route] [and [name of second user of route]] To: [name of (first) owner of route] [and [name of second owner of route]] [I OR We], [name of (first) user of route] [and [name of second user of route]]

[insert date of letter] This document summarises certain changes to the contractual terms and conditions of employment between [insert name of employee] (you) and [insert name of employing company] (the Company). On [insert date of original letter from company], the Company advised you of arrangements through which, in exchange for a reduction in salary, you could elect to receive [describe

An acknowledgment of service is a formal court document by which a defendant confirms receipt of a claim form, writ, summons or other originating process and indicates an intention to contest, admit or not contest the proceedings. It is primarily a procedural step governing time limits and default judgment, not a substantive response to the claim.In England and Wales and Northern Ireland, “acknowledgment of service” is a defined concept under the Civil Procedure Rules and equivalent rules, with prescribed forms and strict deadlines. Filing an acknowledgment of service usually extends the time for serving a defence or other statement of case and prevents the claimant immediately seeking judgment in default.In Scotland, the closest equivalent is the lodging of a notice of intention to defend (ordinary cause) or response form (simple procedure), which fulfils a similar procedural function even though the terminology differs. In Ireland, the respondent’s entry of an appearance to a summons or other originating document serves an analogous role.Across the UK and Ireland, the key practical significance is preserving a party’s right to be heard while complying with procedural rules and avoiding default judgment or decree.