Value of a site or property in its existing use or based upon an implementable planning consent excluding any hope value.

As per Existing Use Value but with an additional evidence-based premium.

Exit refers to the ways in which the investors exit from the transaction and thereby realise their investment.

An inheritance tax charge which arises when property (or value) ceases to be relevant property, other than on excepted occasions.

Defined by the European Union (Withdrawal) Act 2018 as 31 January 2020 at 11:00 p.m.

This Checklist identifies the different routes to termination or exit from a joint venture (JV) and the considerations which apply depending on the exit path chosen. For guidance on responding to a JV dispute, see Practice Note: Joint venture disputes—how to respond. For further detailed guidance on terminating joint ventures in the context of a specially created or nominated joint venture company (JVC), see Practice Notes: • Termination—corporate joint ventures • Tax implications of operating and terminating a joint venture company • Corporate joint venture dispute—dealing with deadlock: initial considerations • Majority-minority joint venture dispute—a practical illustration Embarking on a JV relationship in the first instance usually involves considerable planning and effort on the part of the JV parties who have decided to partner one another for mutual gain (usually by sharing cost, resource and experience). You will need to consider the full implications of ending or exiting the JV, as to whether there are sufficiently good reasons for being prepared to see that investment lost if the JV is to disband or your client

Trustees have an obligation to act in accordance with the scheme provisions contained in the definitive trust deed and rules, relevant legislation and trust principles. While breach of any of those obligations is something trustees can be held liable for, an exoneration clause in the trust deed may reduce the trustees' liability.

Immigration analysis: The Home Office has published updated sponsor guidance which expands the scope of right to work checks expected of work route sponsors from 8 April 2026. The new requirement is imprecisely drafted and may have significant operational implications. This means that some businesses may not be readily able to comply. In their analysis, Andrew Osborne, Stephen O’Flaherty and Pip Hague of Lewis Silkin examine the implications of these changes for sponsors.

A network topography where the network expands incrementally to un-served areas as they become profitable to communications providers. Newly connected areas can then be used as backbones to more remote areas as they eventually become profitable to providers.

Personal Injury & Clinical Negligence analysis: Emily Wickens, service manager at HM Courts and Tribunals Service (HMCTS), and Darren Rooke, product owner at HMCTS, have confirmed that HMCTS is introducing a new online system for unspecified claims including personal injury claims and breach of contract claims. The new service is expected to be launched in the spring of 2021 and will digitalise qualifying claims from issue to directions questionnaires stage.

The Data (Use and Access) Bill was introduced to Parliament in the House of Lords on 23 October 2024. Sponsored by the Department for Science, Innovation & Technology, the Bill aims to help grow the economy and improve public services, with the hope of bringing an estimated £10bn boost to the UK economy across ten years. Victoria Hordern, partner at Taylor Wessing LLP, Kuan Hon, Of Counsel at Dentons, and Dan Whitehead, Counsel at Hogan Lovells International LLP, share their views on the Bill.

Pensions analysis: The appellant’s withdrawals from his self-invested personal pension (SIPP), paid to him whilehe was resident in Portugal and non-resident in the UK, had been ‘paid in consideration of past employment’ within Article 17 UK-Portugal Double Tax Convention (DTC), and only Portugal (not the UK) was entitled to tax that income. Written by Scott Redpath, barrister at Temple Tax Chambers.