Each type of listed share is valued separately and Practice Note: IHT—valuation principles and particular types of property explains that the closing price on the day the person died is used. However, if the deceased died on a non-dealing day, such as at a weekend, the personal representatives (PRs) can choose between using the price on the last dealing day before

Under the original version of section 93(1) of the Pension Schemes Act 1993 (PSA 1993), the provisions allowed a member to take a transfer applied to any member of a personal pension scheme (other than a scheme comprised in an annuity contract entered into before 4 January 1988) who had accrued rights to benefit under the scheme. There was no condition that the member should have ceased to accrue rights to benefits. If

If you are serving proceedings issued in England out of the jurisdiction and the entity to be served is a company registered in the Republic of France then, presumably, the intended defendant is going to be accused of having committed an act of infringement in England. You may then issue proceedings in England and serve them abroad. There are two ways of serving documents abroad. The first way is to do it yourself, by post, or hand delivering the proceedings

Full stamp duty relief may be available for the acquiring company in a share-for-share exchange if section 77 of the Finance Act 1986 (FA 1986) applies and the instrument of transfer is adjudicated by HMRC. As outlined in Practice Note: Stamp duty reliefs—intra-group, reconstruction and acquisition reliefs, there are a number of conditions that must be met in order for the relief in FA 1986, s 77 to apply. Even if all of the conditions are met, the stamp duty relief cannot apply unless the instrument of transfer has been adjudicated by HMRC as not being chargeable to stamp duty (FA 1986, s 77(2), STSM022100 and STSM022130). For more information on the procedure for submitting a claim for relief under FA 1986, s 77, see Practice Note: Stamp duty reliefs—intra-group, reconstruction and acquisition reliefs and, in particular, the section on: Procedure for claiming stamp duty

All employees, with certain exceptions, are entitled to receive statutory sick pay (SSP) from their employers, under the Social Security Contributions and Benefits Act 1992 (SSCBA 1992). For information about sick pay, generally, see Practice Note: Sick pay. Statutory sick pay (SSP) qualifying conditions The essential qualifying conditions for SSP to be paid in respect of a particular day of sickness absence are: • the individual must be an employee as defined and not fall within one of the excluded categories • they must be too ill to undertake any work under their contract of employment on any day for which they claim SSP, or deemed to be so • the day in question must

As set out in the Energy Performance of Buildings (England and Wales) Regulations 2012 (EPC Regs 2012), SI 2012/3118, an Energy Performance Certificate (EPC) is required where an existing building is sold or rented out (EPC Regs 2012, SI 2012/3118, reg 6), a building under construction is finished (EPC Regs 2012, SI 2012/3118, reg 7A(1)(a)) or after refurbishment when there are greater or fewer separate parts of the building and the modification includes the provision or extension of fixed heating, air

Under the Transfer of Undertakings (Protection of Employment) Regulations (TUPE), SI 2006/246, reg 10, rights, powers, duties or liabilities which relate 'to an occupational pension scheme within the meaning of the Pension Schemes Act 1993’ do not transfer under TUPE, SI 2006/246. This is known as TUPE’s ‘pension exception’. Traditionally, personal pension schemes (including group personal pension plans (GPPPs)) and stakeholder schemes are not treated as occupational pension schemes for this purpose. In relation to GPPPs, we refer you to Practice Note: TUPE and Beckmann—the pensions exception, in particular the section entitled ‘Limits to the scope of TUPE's pensions exception’. This section explains that, while some commentators have questioned whether a personal pension scheme (including a GPPP) is capable of being an occupational pension scheme, it is generally accepted that this is not the case. This is on the basis that: • the

Whether a legal easement requires registration at HM Land Registry in order to take effect in law depends on how the easement is created and the registration status of the dominant and servient tenements. The only easements which can exist or be created in law are easements for an interest equivalent to an estate in fee simple in possession or for a term of years absolute (section 1(2)(a) of the Law of Property Act 1925 (LPA 1925)). Legal easements include easements created by express grant (for example, an easement granted in a deed of easement, transfer or lease), implied grant (such as an easement of necessity) or presumed grant (also known as prescription). Expressly granted easements We assume that this scenario relates to an easement expressly granted by deed over a registered servient tenement for the benefit of a registered dominant tenement. Section 27(2)(d) of the Land Registration Act 2002 (LRA 2002) provides that, with effect from 13

Like all categories of the Points-Based System, the Tier 1 (Investor) category is met not just by meeting the substantive requirements of the category, but by providing ‘specified evidence’ or ‘specified documents’. ‘Attributes’ for Tier 1 (Investor) migrants are set out at the Immigration Rules, Appendix A, paras 54 to 65-SD. The relevant section is ‘Qualifying Investments’ under the Immigration Rules, Appendix A, paras 65 to 65-SD. The Immigration Rules, Appendix A, para 65-SD sets out the documents which must be provided as evidence of investment. The Immigration Rules, Appendix A, para 65-SD(a)

For information on the typical steps involved in a capital reduction demerger, including the tax implications of the various steps and what, if any reliefs, from stamp duty may be available for those steps, see Practice Note: Capital reduction demergers. In respect of stamp duty group relief, various conditions must be satisfied in order for the relief to apply. As noted in Practice Note: Stamp duty reliefs—intra-group, reconstruction and acquisition reliefs and, in particular, the sections in that Practice Note on: Intra-group relief and Denial of intra-group relief, the key conditions for relief from stamp duty to apply to an instrument transferring stock or marketable securities intra-group are that: • the beneficial interest in the property must be transferred • the transfer must be between two members of a stamp duty group, each of which must be a body corporate (for more information, see

This response deals with the question whether a solicitor can apply under section 73 of the Solicitors Act 1974 (SA 1974) to obtain a charging order in respect of funds received after the company goes into liquidation. SA 1974, s 73(1) provides that: ‘any court in which a solicitor has been employed to prosecute or defend any suit, matter or proceeding may at any time: (a) Declare the solicitor entitled to a charge on any property recovered or preserved through his instrumentality

A reversionary lease is a lease whose term takes effect only when an existing lease expires at a future date. They are usually granted to the existing tenant to take effect when their existing lease come to an end. Their purpose is, therefore, primarily to ensure security of tenure for the tenant and security of income for the landlord, without the need to go through the provisions of Part II of the Landlord and Tenant Act 1954 (LTA 1954), or where the lease is contracted out but the parties agree that a new lease should be granted. The standard of repair that a lease requires will