An initial consideration is whether any positive balance in relation to the security deposit (in favour of the customer) is in fact the responsibility of any supplier of last resort (SoLR) appointed by the Office of Gas and Electricity Markets (Ofgem)—see Practice Note: Supplier of Last Resort (SoLR)—key features. Under the SoLR regime, any credit balances with the failed supplier become the responsibility of the licensee supplier. This is to protect customers and to ensure that they do not lose out because their supplier has failed, usually as a result of insolvency. The licensee supplier may subsequently be able to recover an amount equal to the credit balances as part of a Last Resort Supply Payment. Ofgem guidance in relation to the SoLR regime refers only to ‘credit balances’ and does not specify whether such balances are to also include any positive balances in relation to security deposits. We are not

A tenant wishing to claim the freehold of their house under the Leasehold Reform Act 1967 (LRA 1967) must serve a claim notice (which must be in prescribed form) on the landlord. The notice may be served on the freeholder or any other person having a superior interest in the premises. By taking that

Unlike applications for leave to remain (Immigration Rules, Part 1, para 34) all applications for entry clearance are not currently subject to any detailed general requirements in the Immigration Rules relating to validity; however new categories (such as Skilled Worker) do have validity requirements which cover applications for entry clearance, and where these are not met the application ‘is invalid and may be rejected and not considered’. In relation to Skilled Worker, for example, these validity requirements include as follows (at Immigration Rules, Appendix Skilled Worker, para SW 1.2): ‘(a) any fee and Immigration Health Charge must have been paid; and (b) the applicant must have provided any required biometrics […]’ For an application for entry clearance for more than six months, the requirement to provide biometrics, and for an application to be valid, derive from the requirement to apply for a

For information on equal pay (equality of terms) claims under the Equality Act 2010 (EqA 2010) generally, see: Equality of terms (equal pay)—overview and Practice Note: Equal pay: how claims work. Under EqA 2010, s 69(1), a sex equality clause in A's terms of work has no effect in relation to a difference between A’s terms and B’s terms if the employer shows that the difference is because of a material factor, reliance on which does not involve treating A less favourably because of A’s sex than the employer treats B, ie, if the material factor is not directly discriminatory. For more information, see: • the section of Practice Note: Equal pay: defences and exceptions entitled ‘Material factor defence’ • Material Factor Defence: Harvey on Industrial Relations and Employment Law: K [501] See also the

This Q&A assumes that the beneficiaries and the personal representatives will dispose of the property following its appropriation. This question is not entirely clear and we refer you to Practice Note: Tax treatment of capital received by beneficiaries under a Will which you may find useful for your purposes. In particular, see sections ‘CGT on transfers by PRs to estate beneficiaries and trustees (legatees)’ and 'CGT on later disposals by legatees'. There are two options as to the question being asked: • the entire property is appropriated

As set out in Practice Note: Personal representatives—powers, duties and remuneration, the Administration of Estates Act 1925 states that personal representatives (PRs) must: • collect and get in the deceased’s estate • administer it according to the law and with due diligence PRs have a common law duty to act prudently and properly in the management of the estate as a whole. In addition, by statute there is a

When the estate of a deceased individual is being administered, the assets will often generate income and sometimes gains will accrue. The period of administration runs from the day after the date of death and ends when the estate is effectively wound up. During that period, income received by the personal representatives (PRs) and gains realised on the sale of estate assets are assessed on the estate as a separate entity. See Practice Note: Income tax and capital gains tax during administration. Tax on estate income is charged at standard rates for all sources of income. Regardless of the level of income, PRs pay income tax at the basic rate. They do not

We refer you to the below related content available on Lexis®PSL Private Client. The Cross-border planning subtopic, in particular the Practice Notes: • Foreign gift and estate

IHT forms required for resealing foreign grant in an excepted estate We refer you to Practice Note: Estates—IHT returns and tax compliance, in particular the section ‘Excepted estates—when to use Form IHT205 or Form IHT207’ and Practice Note: Application for a grant of representation. The requirement for delivery of a formal IHT account is dispensed with if an estate qualifies as an excepted estate. Instead, Form IHT205 must be completed and lodged at the probate registry with the application for the grant. For foreign domiciliaries’ estates, Form IHT207 should be used instead of Form IHT205 where: • the deceased died domiciled outside the UK • the deceased had never been domiciled or deemed domiciled in the UK, and

A deed must be dated with the date on which it actually takes effect. In this scenario, the merger of the term with the reversion under an express surrender can only take effect on the day on which the deed is executed.

As you have noted, IHTM16171—Accrued And Apportioned Income: Accrued Income provides that there is a distinction between accrued income and income arising after death: 'Accrued income is income which is due to the life tenant at the date of death, but had not been paid over prior to death. This may happen, for example, where a dividend on company shares has been declared and is due for payment in the life tenant’s

An indemnity is an agreement by one party to bear the cost of certain losses or liabilities incurred by or claims brought against another party in specified circumstances. Indemnities are used in a contract together with warranties and exclusion and limitation of liability clauses to apportion commercial risk. The impact of an indemnity provision will depend upon its express terms. Practice Note: Contract interpretation—the guiding principles provides a useful starting point for interpretation, as it sets out the five principles of interpretation used by the courts, as formulated by Lord Hoffmann in the leading case of Investors Compensation Scheme v West Bromwich Building Society (ICS). In particular, it provides that the meaning which a document (or any other utterance) would convey to a reasonable man is not the