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GLOSSARY
Holding over describes the situation where a tenant or occupier remains in possession of premises after the contractual lease or tenancy has expired, without a new lease yet completed. It is a descriptive term used in property and landlord and tenant practice across England and Wales, Scotland, Northern Ireland and Ireland, rather than a technical statutory label.Legally, the consequences of holding over depend on the parties’ conduct, any statutory framework and the terms of the expired lease. Common outcomes include: a statutory continuation tenancy (for example under the Landlord and Tenant Act 1954 in England and Wales, or Irish landlord and tenant legislation), an implied periodic tenancy on the same or similar terms, or the occupier becoming a tenant at sufferance or trespasser liable for mesne profits or damages for use and occupation.Key issues when advising on holding over include: whether rent has been accepted; whether notices to quit, break notices or statutory notices have been served; the impact on security of tenure and renewal rights; and potential dilapidations and liability exposure. Usage and core concepts are broadly consistent across the UK and Ireland, though the detailed statutory regimes differ by jurisdiction.
GLOSSARY
This is the length of time that an investment is held. For example, if Company A invests in Company B in June 1996 and then sells its stake in June 1999, the holding period is three years
PRACTICE NOTES
A limited company may hold, or deal with, shares in itself, if certain conditions set out in the Companies Act 2006 (CA 2006) are met. Those shares are held in treasury and are referred to as the company's treasury shares. In addition to the provisions of CA 2006, there are other rules and guidelines that are relevant to a listed company or an AIM company. In particular, a listed company must have regard to the UK Listing Rules (UKLRs) and the Disclosure Guidance and Transparency Rules (DTRs). An AIM company must have regard to the AIM Rules for Companies (AIM Rules), but these do not specifically refer to share buybacks, so AIM Regulation has confirmed that compliance by an AIM company with the UKLRs in relation to share buybacks would represent best practice in most circumstances. An AIM company is also subject to DTR 5. In addition, both types of company may follow institutional investor guidance. The treasury shares regime is set out in CA 2006, ss 724–732. If a company contravenes any of these provisions (except
GLOSSARY
A relief in respect of chargeable gains which applies to gifts of business assets (ie, assets used in a trading business) or shares in an unquoted trading company.
GLOSSARY
A holdover tenant is a tenant who remains in occupation after the contractual term has expired or a tenancy has been validly terminated, without a new agreement in place. The expression is descriptive (not generally defined in statute) and UK and Irish practitioners more often refer to a “tenant holding over” (England & Wales and Northern Ireland) or “overholding” (Ireland).Legal consequences turn on consent and applicable statutory regimes:- England & Wales: For assured shortholds, section 5 Housing Act 1988 creates a statutory periodic tenancy if the tenant stays on. Business tenancies protected by the Landlord and Tenant Act 1954 continue “holding over” until ended or renewed. If protection does not apply and the tenant remains without consent, they risk being a trespasser and liable for mesne profits/occupation rent; a tenancy at will may arise pending negotiations.- Scotland: If neither party serves effective notice, the lease commonly continues by tacit relocation on the same terms (typically for up to one year). Remaining without such continuation or consent is unauthorised occupation with liability for damages for use.- Ireland: Residential tenancies generally continue under the Residential Tenancies Acts; otherwise an overholding tenant may face possession proceedings and liability for mesne profits.Across all jurisdictions, accepting rent may evidence a continuing tenancy; absent consent, the landlord may seek possession and losses.
PRACTICE NOTES
This Practice Note contains links to materials relating to holiday and holiday pay entitlement, also commonly referred to as a worker’s right to paid annual leave. Paid holiday benefits both employers and workers by allowing workers a period of relaxation and recuperation. The entitlement to paid annual leave can be statutory (ie the minimum requirement of 5.6 weeks arising under the Working Time Regulations 1998 (WTR 1998), SI 1998/1833) or contractual (ie as a result of terms in the contract of employment, which may be in excess of, but cannot be less than, the statutory minimum). Statutory holiday and holiday entitlement under the WTR 1998 Practice Note Summary Statutory paid holiday—the right —Introduces the topic of statutory paid holiday and holiday pay—Outlines the changes that applied from 1 January 2024 and for leave years starting on or after 1 April 2024—Explains the basic entitlement to four weeks of paid annual leave (under WTR 1998, SI 1998/1833, reg 13, implementing Article 7 of Directive 2003/88/EC, the Working Time Directive (WTD)), and the additional
GLOSSARY
The employees' right to holiday leave either in accordance with the contract of employment or the Working Time Regulations 1998.
NEWS
The Insolvency Service has announced that the director of Walsham Chalet Park Limited (t/a the Dream Lodge Group), Simon Moir, has been banned from acting as a director for 14 years. Walsham Chalet Park ran an investment scheme allowing people to invest in part of, or an entire holiday chalet, in return for returns based on the rental income. However, following the company’s insolvency in January 2019, the company owed £19.4m to investors. £14.2m of the investments were owed to 161 investors despite lodges not being built and there being ‘little or no prospect of them being completed’. During Moir’s 14-year ban, he will be disqualified from acting as a director, and from directly or indirectly becoming involved, without the permission of the court, in the promotion, formation or management of a company.
NEWS
Employment analysis: A tribunal must look at the ‘real basis’ of a payment to determine whether it is made genuinely and exclusively to cover costs (ie for expenses and therefore to be excluded from holiday pay calculations) or is a performance payment (ie part of normal pay and to be included). Despite being a Northern Ireland Supreme Court decision, it was agreed that Agnew should be treated as an authoritative statement on the correct interpretation of section 23 of the Employment Rights Act 1996 (ie that the EAT in Bear Scotland was wrong to conclude that a gap of more than three months between deductions necessarily breaks a series). There is no statutory power for the employer to designate which leave days are to be treated as statutory as opposed to contractual but Agnew does not preclude the contract granting such power in a given case. However, the purported exercise of any such power cannot be relied upon to make the worker’s position in relation to a time point less favourable than it would have been had it not been exercised, according to the EAT.
GLOSSARY
A will written entirely in the handwriting of the testator, and signed by him.
NEWS
The House of Commons Home Affairs Committee has examined the government’s plans for digital ID and concluded that the policy had been developed in a rushed and inconsistent manner. The report found that the Prime Minister’s September 2025 announcement, which proposed mandatory digital ID for right to work checks, preceded proper consultation, policy development and stakeholder engagement. Following significant public and political opposition, the government abandoned the mandatory digital ID element but retained plans to require digital right to work checks.
NEWS
The House of Commons Home Affairs Committee has launched a new inquiry to examine the government’s proposals to reform the eligibility criteria for Indefinite Leave to Remain (ILR)—an immigration status that allows immigrants to settle permanently in the UK. Currently, the standard qualifying period for ILR is five years. Under the proposed reforms, the government plans to extend this period to ten years. However, immigrants who make a significant contribution to the UK’s economy and society would qualify for a shorter route to settlement under a new ‘points based system’. Factors under consideration include employment, National Insurance contributions and community involvement, such as volunteering.  Applicants would also be required to demonstrate a higher level of English language proficiency than is currently required. The inquiry will examine the evidence base and potential impacts of the proposed changes, including how they may affect current immigration levels, the economy, integration and migrant households. Written submissions are invited until 2 December 2025.