Deductions made from the Unitary Charge if the facility is not Available.

Deductions made from the Unitary Charge if the facility is not Available.

Private Client analysis: This appeal concerned the availability of Business Property Relief (‘BPR’) for Inheritance Tax (‘IHT’) purposes in respect of an interest in a wedding venue business. Written by Sam Chandler and Carmen Barragan Lopez, barristers at 5 Stone Buildings. Sam Chandler acted for the appellant in the case.

The project meets the criteria and standards set out in the Project Agreement that mean that it is functional and make it useable by the Authority. Availability is usually defined in the payment mechanism to the Project Agreement.

Broadly, for the purposes of the transfer of assets abroad regime any income that has been accumulated in a non-UK trust in the years since its creation that has not been: • used to pay trust expenses • distributed as income, or • allocated in prior distributions to UK residents and charged to tax under sections 731–735 of the Income Tax Act 2007 (ITA 2007)

Restructuring & Insolvency analysis: The English court held that a charge granted by Avanti was properly characterised as a fixed (and not floating) charge. In a helpful decision for creditors taking fixed charge security, the court held that limited permissions for the chargor to deal with the charged assets were not fatal to this characterisation. Critically, Avanti was not permitted under the transaction documents to dispose of the relevant assets in the ordinary course of its business and the relevant assets did not constitute anything resembling ‘fluctuating assets’ or ‘circulating stock in trade’. Written by Kate Stephenson of Kirkland & Ellis LLP.

The court considered whether a purported allotment of shares was valid and if there had been a valid agreement to allot shares.

In (re)insurance, the pro-rating of an indemnity payable under a (re)insurance policy in proportion to the ratio between the sum insured and the actual value of the insured property.

Except for the banned practices which are unfair in all circumstances, whether a commercial practice is unfair will be judged by reference to its effect on the ‘average consumer’. There is therefore no requirement to show evidence of actual consumers being affected by the unfair commercial practice. The relevant ‘average consumer’ against which the practice will be judged is defined in the CPUTR 2008 by reference to the type of consumer the practice reaches or affects. There are three types of ‘average consumer’: • the ordinary average consumer, who is reasonably well informed, reasonably observant and circumspect • the average member of a targeted group of consumers—this is relevant where a commercial practice is directed to a particular group of consumers. Indications that a particular group is targeted may include: ? the placement of advertising ? the language used ? the nature of the product, and ? the context • the average member of a vulnerable group of consumers, where: ? a clearly identifiable group of consumers is particularly vulnerable to the practice or to the underlying product because of their mental or physical infirmity, age or credulity in a way which the trader could reasonably be expected to foresee, and ? the practice is likely to materially distort the economic behaviour of only that group

The length of time on average an investment manager holds an investment. If there is a low holding period then the manager might be suspected of churning the portfolio in order to earn fees, or be charged by HMRC for tax for trading rather than investment (which is tax free for registered pension schemes).

Law360: The average value of a defined contribution retirement savings pot has plunged by 66% in just over a decade, official figures revealed on 16 May 2024, as experts warned there was a risk of employers becoming stingier with pension benefits.

Average revenue per user—usually expressed per month but also per year.