The distinction between trading and investment is key in determining the correct tax treatment of transactions involving land or property. Land, more than most other assets, is capable of being held either as an investment (ie a capital asset) or as trading stock. It is also possible for a taxpayer to acquire a property with one intention but for the taxpayer's intention in relation to that property to change during the course of ownership. This note describes the concept of a supervening trade and sets out the tax consequences of land or property being appropriated to or from trading stock. In this note, CGT means both capital gains tax and corporation tax on chargeable gains. Supervening trade Land acquired as a capital asset or investment may subsequently be developed or dealt with in such a way that it becomes stock of a newly established trade—known as a 'supervening trade'. There is judicial support for the concept of a supervening trade in obiter dicta (eg Megarry J in the High

The requirements when supervising trainees derive from the SRA Codes of Conduct and the SRA’s specific regulatory requirements for authorised training providers providing training contracts. The requirements are slightly different depending on whether the trainee is on a formal training contract or is working towards qualification via the Solicitors Qualifying Examination (SQE). This Practice Note explains what is expected of you when supervising, monitoring and assessing trainees and SQE candidates. It reflects the requirements of: • the SRA Codes of Conduct, which contain the SRA’s core requirements in relation to supervision generally—see section: Supervision—core requirements • the SRA Education, Training and Assessment Provider Regulations—see section: Standard of training • guidance on supervising trainees published on the SRA website Induction and other support It is good practice to provide an induction for all trainees, including SQE candidates who you have employed for the purpose of their gaining qualifying work experience (QWE). The induction should be extended to all, including those who have worked for you before in another capacity. You are free to organise the induction to

An order placing a child under the supervision of a local authority (or a probation officer) and the local authority through a social worker is required to advise, help and befriend the child.

1 Introduction [Insert name of firm] is committed to maintaining an effective system of supervision, which is a vital component in ensuring we deliver good outcomes for clients, staff and third parties, and maintain public confidence in the legal services we provide. We aim to maintain an open and supportive atmosphere where asking for help is a natural part of personal development. [Insert any other statements which set the scene for your approach to supervision. This could include referencing SRA warning notices and guidance which are relevant to your firm’s context.] This policy sets out the following supervision arrangements which apply to all staff, including employees, temporary and agency workers, consultants interns, volunteers and apprentices: 1.1 our supervision structure; 1.2 arrangements for supervising client matters; 1.3 our system of file audits/file reviews; 1.4 reviews of fee earner performance and workloads; 1.5 training and competence; 1.6 [supervision of litigation work;] 1.7 [supervision of trainees;] 1.8 [supervision of Registered Foreign Lawyers (RFLs);] 1.9 [supervision of consultants;] 1.10 [our mentoring arrangements;] 1.11 information on how to get help; 1.12 monitoring and review. 2 Our supervision structure 2.1 [Insert name] has overall responsibility for supervising the work undertaken by [insert firm name]. 2.2 Day-to-day supervision is achieved through our management structure and reporting lines.

1 General information Date of review [Insert date] Person(s) conducting review [Insert name(s)] 2 Review and findings Is your Supervision structure chart up to date? ☐ Yes☐ NoIf no, ensure you set an action point at section 3 Are you satisfied that your Supervision policy accurately reflects supervisor roles and responsibilities within your firm? ☐ Yes☐ NoIf no, ensure you set an action point at section 3 Are you satisfied that your Supervision policy accurately reflects your supervision procedures

This Checklist is designed to help you determine whether you have the systems in place to comply with regulatory requirements that apply to law firms, including SRA requirements, in relation to supervision. It should be read in conjunction with subtopic: Supervision and file reviews. Management and control Requirement Compulsory or recommended Comments (if any) ☐ Ensure your governance arrangements are suitable to operate or control a business providing regulated legal services.See subtopics: SRA authorisation and approval and Governance structures. Compulsory SRA Authorisation of Firms Rules, r 2.2 (Insert any comments you may wish to make regarding your firm’s arrangements) ☐ Ensure you have at least one manager or employee, or procure the services of an individual, who:—is a lawyer within the definition in the SRA Glossary, and has practised as such for a minimum of three years—is not a registered Swiss lawyer (RSL), and—supervises the work undertaken by your firm Compulsory SRA Authorisation of Firms Rules, r 9.4SRA Glossary (Insert any comments you may wish to make regarding your firm’s arrangements) Service

This Practice Note sets out SRA regulatory requirements in relation to supervision. For information on how to apply these requirements and what good supervision looks like in specific situations, see Practice Note: How to supervise effectively—law firms. The SRA's core regulatory requirements in relation to supervision are found in the two Codes of Conduct (the SRA Code of Conduct for Solicitors, RELs, RFLs and RSLs (Code for Solicitors) and the SRA Code of Conduct for Firms (Code for Firms)), which should be read in the context of the SRA Principles. Requirements can also be found in the SRA Authorisation of Firms Rules, SRA Education, Training and Assessment Provider Regulations, SRA Transparency Rules, and SRA Authorisation of Individuals Regulations. SRA and other requirements Cumulatively, SRA and other regulatory requirements in relation to supervision cover the following themes: • management control • service and competence • information requirements • additional Lexcel requirements • file reviews • education and training • supervision of registered foreign lawyers (RFLs), and • supervision of specific activities (see Practice Note: How to supervise effectively—law firms) SRA

The authorised individual who is charged with supervising a voluntary arrangement, whether involving an individual or a company, and the debtor's/company's compliance with his/its obligations under the arrangement.

Restructuring & Insolvency analysis: On appeal, the joint supervisors of a company voluntary arrangement (CVA) that was set aside on the grounds of unfair prejudiced and material irregularities in relation to the approval process, were absolved of joint and several liability for the respondent’s costs of its successful challenge to the arrangement. Written by Bridget Williamson, barrister, Enterprise Chambers.

A key objective of the EU GDPR is to achieve a level of consistency in relation to how data protection is implemented and enforced across the EU. Under Article 51 of the EU GDPR, Member States can provide one or more independent public authorities to be responsible for monitoring the application of the EU GDPR, ie a ‘supervisory authority’. Under UK GDPR, the Information Commissioner is the equivalent authority in the UK but falls outside of the EU GDPR regime.

Ireland—Employment analysis: The Pensions Authority (the Authority) has published a Findings Report (the Report) on its 2024 supervisory activities which will be useful reading for pension scheme trustees and their advisors. This article was written by David Main, Chris Comeford, David Francis and the Pensions Disputes & Investigations Group of A&L Goodbody LLP

Introduction This Practice Note outlines some of the central features of English insurance law, their application to yachts in particular, and the changes following the entry into force of the Insurance Act 2015 (IA 2015). For more information on the key principles that govern any insurance contract, see Practice Note: General principles of insurance contract law. For more on marine insurance in relation to all types of vessel, see Practice Note: Marine insurance—essentials. The relevant legislation The Marine Insurance Act 1906 (MIA 1906) applies to yachting insurance law questions, but this has been amended and supplemented by the Consumer Insurance (Disclosure and Representations) Act 2012 (CI(DR)A 2012) and the IA 2015. Smaller yachts/pleasure craft are typically owned by individuals and are likely to fall within the ambit of CI(DR)A 2012, which aims at protecting consumer insureds by replacing the duty of utmost good faith with an obligation to take 'reasonable care' not to misrepresent the risk. For superyachts owned by bodies corporate, which are not considered to be consumers by virtue of not being individuals, IA