Net estate refers to the value of a deceased person’s estate after deduction of all liabilities, expenses and other allowable deductions, and is the figure used to calculate what beneficiaries and (where relevant) taxing authorities receive. In practice, it is the gross estate minus debts, funeral and testamentary expenses, administration costs and, in many cases, inheritance tax or capital acquisitions tax reliefs and exemptions.In England and Wales and Northern Ireland, the concept appears in succession and inheritance tax legislation and is central to determining the statutory legacy on intestacy, the quantum of certain family provision claims, and the inheritance tax chargeable estate.In Scotland, a similar concept underpins the calculation of the “free estate” after prior rights, legal rights and debts have been satisfied, although Scots law terminology may differ and reference is often to “net movable” and “net estate” in practice.In Ireland, “net estate” is used in the Succession Act 1965 and tax legislation to determine shares on intestacy, the rights of the surviving spouse or civil partner and children, and the taxable inheritance for capital acquisitions tax. Usage is broadly consistent across the four jurisdictions.

The information ratio after allowing for costs.

The area within a building (taking each floor into account) which can effectively be used and for which rent is normally paid, measured from the inside face of the perimeter walls. Certain areas eg lifts, WCs and service ducts are excluded from the calculation.

STOP PRESS: On 21 January 2026, the Commission published a proposal for a Digital Networks Act that may replace the European Electronic Communications Code and consolidate other existing telecoms instruments including parts of Regulation (EU) 2015/2120 (the Open Internet Regulation) into a single, directly applicable regulation. The Commission has emphasised that the proposed rules will clarify, rather than weaken, existing ‘open internet’ principles, particularly in relation to ‘specialised’ services, see News Analysis: EU 'open internet' principles reaffirmed in debate over telecom rules revamp. This Practice Note reflects the current legislative position and will be updated when the proposal is finalised. To track the progress of the Digital Networks Act through the legislative process, see Practice Notes: EU Media, digital and telecoms—horizon scanner and EU Media, digital and telecoms—key developments tracker. This Practice Note explains how the principle that use of the internet should be kept free from any sort of discrimination, commonly known as ‘net neutrality’, has been implemented into EU legislation. This includes consideration of the provisions

The expression ‘net neutrality’ refers to a principle according to which use of the internet should be kept free from any sort of discrimination—therefore, providing equal opportunities of access to any user. The term was first coined in 2003 by Tim Wu, a media law professor at Columbia University and belongs to a group of principles related to the freedom of use of the internet. Net neutrality is a dynamic response to the needs of the technology sector. It means that the control over what is seen online is retained by the individual, rather than by the broadband provider connecting the individual to the internet. It therefore means an ‘open’ internet, where internet service providers (ISPs) provide equal connection and non-discriminatory treatment to all online content and services, at levels of quality that reflect advances in technology. When considered from a legal perspective, net neutrality is often identified with a prohibition on restrictions and/or

A method used in evaluating investments whereby all future cash flows are first discounted at a given discount rate and then added. An investment is acceptable if the NPV is positive.

Net probate estate describes the value of a deceased person’s estate available for distribution after deducting funeral expenses, debts, taxes and the proper costs of administering the estate under a grant of probate or confirmation. It focuses on assets that actually fall into the estate, excluding non‑probate assets such as jointly owned property passing by survivorship or valid nominations and many pension benefits.The expression is mainly a descriptive term in probate practice and succession planning rather than a consistently defined statutory concept, although related phrases appear in various inheritance tax, succession and family provision statutes across the UK and Ireland. In England and Wales, Northern Ireland and Ireland, it is commonly used when calculating shares under a will or intestacy and when assessing claims under family provision or testators’ family maintenance legislation. In Scotland, the concept broadly corresponds to the free estate available after debts, prior and legal rights have been satisfied, though the terminology of “net movable/immovable estate” or “free estate” is more typical. Across all four jurisdictions, accurately identifying the net probate estate is essential for estate accounts, inheritance tax and capital acquisitions tax computations, and advising beneficiaries and personal representatives.

The amount available for the seller of a property.

Net earnings or net income calculated by taking the figure for revenue (or gross profit) and deducting operating expenses, depreciation and interest. Used in the calculation of earnings per share or EPS.

The total earnings for an individual (including salary, bonuses and value of many benefits in kind for employees and trading profits of the self-employed) for the tax year. This figure is used to calculate the amount of contributions an individual can make to pension arrangements without incurring a tax charge.

This Practice Note provides information on the net stable funding ratio requirements, set out in the Liquidity (CRR) Part of the Prudential Regulation Authority (PRA) Rulebook, which apply to UK banks, building societies and systemically important investment firms. The primary source for UK prudential requirements has been the onshored Capital Requirements Regulation (Assimilated Regulation (EU) 575/2013—UK CRR) and its level 2 measures. The provisions of UK CRR and its level 2 measures are, however, in the process of being revoked and replaced by provisions in the PRA Rulebook and other PRA policy materials. For information, see Practice Note: Introduction to the UK prudential regime for banks, building societies and systemically important investment firms—UK CRR. The Liquidity (CRR) Part includes rules which correspond to, and are identified by reference to, specified Articles of UK CRR as they applied immediately before revocation. Purpose of the net stable funding ratio (NSFR) requirements The NSFR requirements implement the NSFR provisions of the Basel Framework and are intended to ensure banks maintain an amount of stable funding that is adequate to support

Climate change and sustainability are now central issues for the property sector. The built environment is a major source of greenhouse gas (GHG) emissions and clients—whether developers, investors, real estate investment trusts (REITs), pension funds, funders or asset managers—face escalating regulatory obligations and market scrutiny. UK and EU regimes impose mandatory disclosure on GHG emissions, energy efficiency and wider environmental, social and governance (ESG) matters. On top of this, a proliferation of voluntary frameworks and benchmarks has created an ‘alphabet soup’ of standards that investors, occupiers and lenders increasingly expect to see adopted. At the same time, access to sustainable and green finance is linked to sustainability performance. This Practice Note considers the key implications of climate change, net zero and sustainability as well as the mandatory and voluntary reporting regimes with particular focus on those relevant for property in England and Wales. It is a high-level overview for property lawyers aimed at providing an understanding of these issues to enable property lawyers support clients’ objectives in this regard in