FORTHCOMING CHANGE: The government published draft legislation on 13 July 2026 to reform the Cultural Gifts Scheme (GNS scheme) by improving the flexibility and accessibility of the scheme, in order to encourage further donations and help bolster collections of heritage property in UK galleries and museums. The measure amends Schedule 14 of Finance Act 2012 to remove the current restriction on joint ownership of objects for the GNS, so that joint owners will each be able to claim relief on their gift of a share of the object. It will also allow individual donors the opportunity to amend their remaining tax credit allocation once within the five-year limit period. If enacted, the amendments will apply to qualifying gifts where the offer is registered on or after 6 April 2027. See News Analysis: Legislation Day: Draft Finance Bill 2027—Private Client analysis — Heritage property. With the aim of encouraging lifetime philanthropic giving, the government introduced provisions in the Finance Act 2012 (FA 2012), whereby donors who give pre-eminent

Gifts of residue are testamentary gifts of the remainder of a deceased person’s estate after payment of debts, taxes, expenses and all prior legacies or bequests. In wills, they are usually created by a residuary clause leaving “the residue” (or “free estate” in Scots practice) to one or more residuary beneficiaries.The expression is descriptive rather than a statutory term, but is widely used by probate, trusts and succession lawyers across England and Wales, Scotland, Northern Ireland and Ireland, with broadly consistent meaning. In Scotland, residue of the estate is subject to legal rights and prior rights; in the other jurisdictions, residue is determined after satisfying any fixed shares (for example under intestacy rules if the will fails in part).Gifts of residue are central to estate planning and will drafting because they “sweep up” assets not specifically mentioned, deal with after-acquired property, and reduce the risk of partial intestacy. They are commonly structured as absolute gifts or on discretionary or life-interest trusts. Construction issues include class gifts, failure of prior gifts increasing residue, lapse and the operation of anti-lapse provisions, and the effect of variation or disclaimer by residuary beneficiaries.

A shared fibre network architecture that can be used for next generation access.

A measurement of electronic information also referred to as Gb.

a measurement of electronic information. 1 Gigabyte = 1,024 Megabytes

Thousand million Hz (cycles per second). Example: 2.2 GHz = 2,200,000,000 or 2.2 x 109.

Name sometimes given to government bonds issued by the Irish, South-African and UK governments.

The practice of selling gilts and simultaneously entering into an agreement to repurchase them at a fixed time and price.

Investors can buy separately either individual coupons or the ultimate principal repayment due on a specific gilt. These separate elements are referred to as principal or coupon strips and are identified by the payment date. The separation process is achieved by ‘stripping’ the gilt. A key benefit is that the duration of a strip is equal to its term, thus making it easier for pension funds to find securities to match fixed liabilities.

A UK government-issued and guaranteed bond. They are marketable sterling government bonds issued by the Debt Management Office (DMO) on behalf of the UK government as part of its debt management responsibilities.

Where a deadlock situation arises which cannot be resolved between the board (or, where the joint venture parties are part of a corporate group, the shareholders) of the joint venture company, such clause provides that the chair or chief executive officers of each joint venture party meet and attempt to resolve the deadlock in a face-to-face discussion. See also Escalation.

IP analysis: This case involved Marks & Spencer plc (M&S) bringing a claim for design infringement against Aldi Stores Ltd in the Intellectual Property Enterprise Court (IPEC). M&S alleged that the advertising and sale of Aldi’s festive ‘infusionist’ gins first sold in November 2021 infringed M&s’s design rights in its own range of festive gins which were registered in April 2021. His Honour Judge Hacon held in favour of M&S on the basis that M&S’s registered designs and Aldi’s products did not create a different overall impression, despite there being relatively minor differences in detail. Design infringement claims do not often reach the point of judgment. As such, this case provides an important and useful insight into the court’s latest interpretation of UK registered design rights. Written by Philip Partington, head of Intellectual Property and Michael Rimola, trainee solicitor at JMW Solicitors LLP.